Nigeria seeks trade parity with China

The Federal Government is seeking parity in its existing trade relationship with China.

Minister of Information and Culture, Lai Mohammed, who spoke when the the Vice President, StarTimes Group of China, Ms. Zhao Yueqin visited him in Abuja, said the strategic partnership between the two countries has waxed stronger in various sectors, said the trade volume between the two countries had jumped from $6.9 billion in 2009 to over $14 billion as at last year.

The minister however stressed the need to correct the trade imbalance between the two countries by encouraging Chinese investors to set up factories in labour-intensive sectors in Nigeria and also canvassed for the abolition of the five per cent tax levied on agricultural products entering China from Nigeria.

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