‘Why FG launched domestic trade house in China’

The Permanent Secretary, Ministry of Industry, Trade and Investment, Dr Evelyn Ngige, has said the federal government recently launched the domestic trade house in China to drive export development in the country and the Asian region.

She stated this yesterday in Abuja at the investment, economic and trade promotion conference, which is a preparatory conference ahead of the upcoming China – Africa Economic and Trade Expo (CAETE), scheduled to be held in Changsha, Hunan, China from June 29th – July 2nd, this year

“Nigeria has continued to be China’s number one trading partner in Africa. The volume of trade between the two nations stood at over $12.03 billion in 2021 representing an increase of 7.1% from 2020.

“The Nigerian Export Promotion Council (NEPC), in collaboration with relevant stakeholders, has launched a Domestic Warehouse Initiative, which is a one-stop facility or terminal, for storage of products, packaging and branding in preparation for ultimate transportation to Ports.”

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Dr Ngige further noted that China was deliberate because through the Export Trading House, the volume of export and feasibility of seeing Nigeria’s products and market share with countries will be enhanced.

The Executive Director of the Nigerian Export Promotion Council, NEPC, Dr Ezra Yakusak, who was represented by the Director of Product Development at NEPC, Mrs Evelyn Obidike, urged Chinese companies to establish factories that will produce value-added products for export to China and the global market.

Deputy Mayor of Changsha Municipal People’s Government and Chairman of Changsha Federation of Industry and Commerce introduces Hunan Province, Kang Zhenlin, noted that the forthcoming Conference will strengthen economic and trade cooperation between China and African countries, on the theme of “Common Development for a Shared Future”.