Nigeria and China have signed a framework agreement on economic partnership to strengthen cooperation in trade facilitation, digital economy, resilient supply chains and inclusive growth.
This is contained in a statement by Augustina Obilor-Duru, Head, Press and Public Relations, Ministry of Industry, Trade and Investment, on Friday in Abuja.
The agreement was signed by Minister of the ministry, Dr Jumoke Oduwole, and China’s Minister of Commerce, Mr Wang Wentao, in Yaoundé, Cameroon.
Oduwole said that the agreement established a flexible and non-binding framework to guide future negotiations and economic cooperation between the two countries.
She outlined four priority areas of the engagement trade facilitation, such as inclusive and green growth, resilient supply chains and the digital economy.
According to her, specific cooperation modules under the agreement will be implemented based on mutual consent of both countries.
Oduwole said the framework would provide a structured platform for deepening economic cooperation between the two countries.
She said the agreement aligned with Nigeria’s national development priorities, particularly industrialisation, job creation and export diversification.
“Nigeria’s trade engagement is focused on delivering practical economic outcomes for its citizens. The partnership also supports the Renewed Hope Agenda of President Bola Tinubu,” she said.
Oduwole said Nigeria would continue to pursue partnerships that strengthen its position in regional and global value chains.
She added that the Federal Government remained committed to ensuring inclusive and sustainable economic growth.
She said the agreement formed part of Nigeria’s broader strategy to expand trade and investment partnerships, adding that it would also enhance competitiveness and position Nigeria as a leading economic hub in Africa.
“The agreement aligns with continental economic initiatives aimed at boosting intra-African trade and development.
“The signing further reflects efforts by both countries to strengthen bilateral economic cooperation and shared development goals.”
NAN
