President Muhammadu Buhari Tuesday
in Beijing appealed to Chinese investors to consider siting industries
in Nigeria instead of seeing the country as a market for dumping goods.
He called on
the Nigerian and Chinese business communities to work harder to reduce
the trade imbalance between both countries which is currently in China’s
favour.
A
statement issued from China by the Special Adviser to the President on
Media and Publicity, Mr Femi Adesina, said Buhari spoke at the opening of a Nigeria-China Business/Investment Forum.
Buhari said that trade and economic
relations between both countries must be mutually-beneficial and
conducted with reciprocated respect and trust.
“Although
the Nigerian and Chinese business communities have recorded tremendous
successes in bilateral trade, there is a large trade imbalance in favour
of China as Chinese exports represent some 80 per cent of the total
bilateral trade volumes. This gap needs to be reduced.
“Therefore, I would like to challenge the business communities in both countries to work together to reduce the trade imbalance.
“You
must also imbibe the spirit of having a mutually beneficial relationship
in your business transactions. You must not see Nigeria as a consumer
market alone, but as an investment destination where goods can be
manufactured and consumed locally,” Buhari told the gathering.
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