China to make Nigeria major manufacturing zone

China on Wednesday agreed to make Nigeria a major manufacturing zone for its key industrial enterprises.The Director, Chongqing Liangjing New Area, China, Mr. Weng Jieming, said the region had five key industries consisting automobiles and motorcycles, petroleum and natural gas, equipment manufacture, new materials and high-tech industry, which had key investments in many nations of the world.He said, apart from encouraging companies in Chongqing to export their goods to Nigeria, the government would also support the companies, especially in the motorcycle and automobile industry, to make direct investments in Nigeria for local production.He said this on Wednesday when the Nigerian Minister of Trade and Investment, Mr. Olusegun Aganga, visited Chongqing, the largest and most important industrial city at the upper reaches of the Yangtze River and Southwest China.The region is where Chinas major Free Trade Zones, which contribute about 20 per cent of the nations Gross Domestic Product, are located.A statement by the Special Adviser (Corporate Communications) to the Minister, Mrs. Yemi Kolapo, quoted Jieming as saying that the largest investments in Ghana were made by companies from Chongqing, adding that fostering such a relationship with Nigeria would be beneficial to both countries.Aganga had said during a meeting with his counterpart at the Chinese Ministry of Commerce, Mr. Fu Ziying, that making Nigeria a major manufacturing zone for most of Chinas products would go a long way in correcting the trade imbalance between the countries and creating jobs for the citizens.He said the availability of raw materials and a ready market in Nigeria for quality Chinese products would make the deal a win-win situation for both countries.He said it was important, in line with President Goodluck Jonathans transformation agenda, for the trade relationship between both countries to be reappraised in favour of job creation, noting that emphasis should not only be placed on export of goods to Nigeria, but on actual production in the country.He urged Chinese companies, through the help of the China Development Bank, to invest in critical infrastructure in Nigeria, noting that local industries in his home country would also benefit from the improved business environment that would result from sound infrastructure.
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