China has said it seeks more crude
oil exports from Nigeria in spite of the recent changes in oil prices.
Mr Zao LingXiang, Economic and Commercial Counsellor of the
Chinese Embassy in Nigeria, said this in an interview with the News Agency of
Nigeria (NAN) in Abuja.
``But the total amount of export to China was only about one
million barrels in 2015 that was just 1.3 per cent of Nigerian annual oil
export.
``In my opinion, it really doesn’t matter whether Iran comes
back or not; Chinese companies want to import more crude oil from Nigeria,” he
said.
He said that current trade volume between both countries stood
at 14.94 billion U.S. dollars in 2014 making Nigeria third largest trade
partner of China in Africa.
The economic counsellor added that Nigeria’s trade figure was
8.3 per cent of China’s total trade volume with Africa and 42 per cent of the
total trade volume between China and Africa.
He said that China also sought to explore other areas of
cooperation with Nigeria which he noted would be of benefit to both parties.
``China is the largest developing country in the world and
Nigeria is the largest developing country in Africa and both countries have
complementary advantages in natural and human resources, funds and markets.
``Right now, the Nigerian Government is trying to diversify its
economy which is fully in line with the 10 China-Africa cooperation plans
announced at the summit on China-Africa trade in Johannesburg in 2015.
``There are great potential for cooperation between China and
Nigeria in the fields of industrialisation, agricultural modernisation,
infrastructure construction, financial services, trade and investment
facilitation, among others.”
He, however, added that both countries had made “remarkable
achievements” in the areas of infrastructure cooperation.
He said that the coming visit of President Muhammad Buhari to
China in April would facilitate the implementation of agreements reached at the
2015 China-African summit in Johannesburg.
The economic counsellor further added that the president’s visit
would also deepen cooperation between both countries.
LinXiang explained that the total investment volume between
China and Africa exceeded 100 billion U.S dollars in 2015 in spite of the
decline in imports from Africa.
He also assured that Africa remained China’s largest trade
partner despite recent changes in that country’s economy.
``The amount in import from Africa to China declined but did not
decline remarkably.
``Moreover, the economic and trade cooperation between China and
Africa is not only about trade but technical cooperation as well.
``China’s total investment volume in Africa last year increased
by 100 times more in a short span of 10 years, which shows that cooperation
between both parties is moving to a new level,” he said. (NAN)
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