(Yicai Global) June 29 -- The China International Import Expo (CIIE) plays a vital role in connecting business people around the world and in strengthening global trade ties, a leading Nigerian business community group said.
“The CIIE plays a very important role in connecting business people from all over the world and in the promotion of international trade relations,” the Lagos Chamber of Commerce and Industry (LCCI) said.
The remarks of the business group were given as preparations for the third CIIE are underway, following the effective containment of the novel coronavirus in the country. The expo is slated for November 5 to 10 in Shanghai.
The event fosters business relations between different countries and facilitates the distribution chain from international manufacturers to local consumers, the chamber said.
Temitope Akintunde, the chamber’s assistant director for international and public sector relations, said the Chinese economy remains “very strong and competitive” and the country is a leading exporter to several countries around the world.
Akintunde said the China-Nigeria relationship on both the diplomatic and economic level has been further strengthened despite the COVID-19 pandemic, as China provided great support to Nigeria in curtailing the spread of the virus.
“Nigerian businesses are hopeful for sustained business and economic activities between China and Nigeria,” she said.
The LCCI is a leading private sector group based in Lagos, the largest and most populous city in Nigeria. It has over 2,000 corporate members. In the first and second editions of the CIIE, members of the chamber sealed transactions worth over $100 million.
Akintunde said the event is a first of its kind world-class meeting point for importers and exporters when asked about her impression of the CIIE.
Thanks to the expo, the LCCI members have been able to interact with other business people from different parts of the world and share their experiences together, Akintunde said.
“Our members have been able to get world class products and services from genuine manufacturers, and to increase their scale of doing business,” Akintunde said. “They have been able to also sell their products and services to China and some other countries.”
There have been decades of strong bilateral relations between China and Nigeria. China is currently Nigeria’s largest trading partner.
In 2019, the trade volume between China and Nigeria reached $19.27 billion, and the growth rate was 26.3 percent year-on-year, ranking first among China’s top 40 trading partners, according to data released by the Chinese Embassy in Nigeria. China’s imports from Nigeria increased by 43.1 percent on a yearly basis, the data showed.
With two editions successfully held since 2018, China International Import Expo (CIIE) serves as the platform for international procurement, investment promotion, cultural exchange, as well as opening-up and cooperation. The third edition of CIIE will take place in Shanghai from November 5th to 10th. Thousands of companies, which are leading players in their industries, will gather at the expo to showcase their products and services, and seek business opportunities with global buyers.
At CIIE, participants can both purchase a wide range of products from the world and can also sell their products to the world. CIIE helps drive investment both inward and outward and contributes to maintaining a stable global supply chain.
Starting from June 24, professional visitors around the world can log into the CIIE website (www.ciie.org) and locate Business Exhibition - Buyer - Registration to sign up for the event. CIIE welcomes global buyers to join the upcoming event and to share opportunities presented by China’s further opening up.