Business / Economy

China encourages investment in Nigeria's manufacturing sector

(Xinhua) Updated: 2014-05-07 13:57

Trade value between China and Nigeria reached $13.6 billionin 2013, almost five times the figure in 2005, Gao said.

China and Nigeria have achieved remarkable results in cooperation in infrastructure construction. Nigeria is a country where Chinese enterprises undertook most infrastructure projects in Africa, Gao said.

Chinese enterprises have repaired an accumulated length of 4,500 km of railway in Nigeria since 1995, as they currently are building modern railways and metropolitan light rails there, he said.

Chinese enterprises and Nigerian telecommunication operators have cooperated closely to raise Nigeria's mobile phone subscription rate to 91 percent in 2013 from less than 1 percent in 2001.

Chinese enterprises have also actively embarked on cooperation in the construction of power plants, highways, and airport terminals, among others, in Nigeria.

Both China and Nigeria are big developing countries. The two countries each have their own advantages in the fields such as resources, funds, manpower and market, and their economies are highly complementary, Gao said.

In the near future, Gao said, China and Nigeria will continuously deepen their cooperation in trade, investment in the manufacturing industry, agriculture and infrastructure, in order to push forward their economic and trade cooperation to a broader and higher level.

China condemns Nigeria kidnappings

Nigeria, China trade volume hits $13b in 2013

China filled West's void in Africa