Chinese, Nigeria boost trade as ENL, Sinoma sign deal
Sinoma Cargo International Nigeria Limited has signed an agreement with Nigeria’s leading terminal operator, ENL Consortium Limited, to boost maritime trade between China and Nigeria.
The agreement was signed in Lagos on Wednesday during the 5th China-Nigeria Special Line Platform Supply Chain Conference.
The conference, which takes place every year, was organized by Lianyungang Port Holdings Group Co., Ltd, Sinoma International (Nanjing) Engineering Co., Ltd, NJZC International Construction Nig. Ltd and ENL Consortium Ltd.
In his remarks at the event, the Commercial Consul of the Consulate General of the People’s Republic of China in Lagos, Guo Pengwen, noted that the existing bilateral relationship between Nigeria and China has enormous potential, following the volumes of trade between the two countries.
“China-Nigeria special line logistics are also promising. In international trade, logistics is a very important link, which plays a very important role in the cost, safety, convenience and speed of international trade. The superposition of international geopolitical conflicts, the epidemic of the century and the changes of the century have led to violent fluctuations in the global supply chain, and the cost of international logistics and warehousing has risen sharply.
“To build a new pattern of development of domestic and international dual circulation, it is necessary to fill the gaps in international logistics as soon as possible and create a global supply chain logistics system that works for us,” he said. said the trade consul.
In her presentation, the Executive Vice President/CEO of the ENL Consortium, Princess Vicky Haastrup, recounted how trade relations between Nigeria and China have evolved since the 1970s.
“Given these trade relations, the rise of the Chinese economy has shifted the direction of Nigeria’s trade and investment away from its traditional trade and investment partners such as the United States and Western Europe towards China, India and Brazil.
“The recent increase in Chinese investment in Nigeria provides an alternative source of external financing to Nigeria. This is not unrelated to the agreement signed between the two countries on the establishment of the China Center for Investment Development and Trade Promotion in Nigeria and the Nigeria Trade Office in China.
“The operations of Chinese companies in Nigerian territory, especially in the fields of oil and gas, power, construction, real estate and telecommunications, have further strengthened bilateral cooperation between the two countries” , she said.
Haastrup regretted that Nigeria’s efforts to increase exports to China have been limited by a lack of exportable products, coupled with a poor competitive position.
Also speaking, Chairman of the Nigerian Ports Advisory Board, Otunba Kunle Folarin, expressed his optimism that trade relations between Nigeria and China will continue to grow given the huge economic potentials of the two countries.
The conference brought together representatives of terminal operators, shipping companies, importers, exporters and traders from China and Nigeria.