The Lagos Chamber of Commerce and industry (LCCI) and the Manufacturers Association of Nigeria (MAN) are optimistic that the collaboration with China Foreign Trade Centre will bridge the bilateral trade deficit of about $18 billion through the promotion of manufactured exports.
They expressed their views yesterday during the 137th Canton Fair Lagos Promotion seminar organised by the chamber ahead of the trade event scheduled for April 2025 in China.
President of MAN, Francis Meshioye said the fair represents a symbol of shared commitment to fostering economic cooperation, a testament to the endless opportunities and another milestone in the history of Nigeria-China trade relations.
A cursory look at the China-Nigeria trade relations revealed that the bilateral trade between both nations declined by 11.5 percent from $22.6 billion in 2023 to $20 billion in 2024, Meshioye said.
“I am therefore hopeful that this landmark event and by extension the fair would be repositioned to unlock the numerous untapped potentials of the existing partnership between Nigeria and China.”
He noted that the event will would become a strategic trade collaboration aimed at strengthening cooperation, upscaling innovation and more importantly deepening shared commitment to enhance industrial development in Nigeria.
