Nigeria and China furthered their economic relations by hosting the 18th China Africa Economic and Trade Exhibition (CAETE) which featured mainly Chinese engineering technology.
The event which commenced in Abuja on Thursday, attracted up to 100 exhibitors from China and some from Nigeria, government officials from both countries pledged to create stronger economic bonds and take their benefits higher.
While addressing attendants at the event during an opening ceremony, Mr. Yu Dunhai, the Chinese Ambassador to Nigeria, assured that China is committed to improving its trade and other economic partnerships with Nigeria.
He noted that his country does not just target trading with Nigeria but intends to aid Nigeria with technology and infrastructure advancement to locally industrialise.
The events of the day started with the officials, including Nigeria’s Minister of Transportation, Mr. Said Alkali, the ambassador, Yu, other Chinese officials including Mr. Lai Mingyong, Vice Chairman of the Hunan Provincial Political Consultative Conference and Mr. Fang Qiuchen launching the African Green Development Index.
The programme is targeted at ensuring that African economic and industrial development is sustainable in encouraging a green profile that does not sacrifice environmental protection on the altar of profit.
Ambassador Yu noted in his speech that Nigeria, a country that plays a pivotal role in the China-Africa cooperation has a lot of environmental and other advantages to be a strong and robust economy. He challenged the country to take advantage of the growing economic ties with China to advance its local economy in many spheres as Africa’s largest contracting market for Chinese operators.
Minister Alkali also assured of the commitment of the Nigerian government to make the infrastructural advancement through Chinese companies an achievable goal that will be as fruitful and robust as the Forum on China-Africa Cooperation (FOCAC)
On the sideline with journalists, Mr Fang, Chairman of China International Contractors Association (CHINCA) explained plans to collaborate with Nigeria on new energy projects, digital smart cities, infrastructure and agriculture.
According to him, the longstanding relationship between China and Nigeria dates back to 1971 and with China’s advanced technology in various sectors, particularly infrastructure, there is a need to share this expertise with Nigerian partners.
He also emphasised the importance of this partnership in addressing Nigeria’s energy challenges and promoting sustainable urban development.
“The collaboration will leverage China’s advanced technologies and Nigeria’s vast resources to create a sustainable energy framework that will benefit both nations,” Fang stated.
He highlighted that the projects would not only enhance energy access in Nigeria but also contribute to the country’s economic growth.
“Both China and Nigeria are actively exploring the use of advanced technologies, such as big data, cloud computing, and Al, to enhance the intelligence and automation of infrastructure.
“The integration of digital technology with new infrastructure, the blue economy, and agricultural modernization has emerged as a focal point for cooperation.
“The Deputy Governor of the China Development Bank is present, indicating a collective effort to finance these projects,” he said.
Furthermore, the Chairman added that the partnership is expected to facilitate investments in solar, wind, and hydroelectric energy, aligning with global trends towards cleaner energy sources.
Additionally, Fang said that the development of smart cities will integrate digital technologies to improve urban management and enhance the quality of life for residents.
