Chinese Ambassador to Nigeria, Yu Dunhai, says the challenges posed by the tariffs which the U.S. recently imposed on global trade will bolster China-Nigeria economic and trade ties.
Yu, who made this known during a news conference on Friday, in Abuja, said the new development was an opportunity to bolster China-Nigeria partnership amid the challenges it posed.
He emphasised that the U.S. tariff controversy had the potential to engender mutual cooperation between the two countries, describing it as a “crisis with opportunities.”
Freedomonline reports that the news conference was held to address the prevailing China-U.S. economic, trade and tariff issues.
The ambassador underscored the significance of upholding a free and open multilateral trading system, describing it as crucial for driving African countries’ development and revitalisation initiatives.
“African nations are committed to development and revitalisation, which requires a free, open multilateral trading system and a stable, predictable global environment.
“History has shown that China is a reliable partner for Africa, trustworthy, mature, and steadfast.
“China’s development and commitment to high-level openness will bring much-needed stability to an increasingly uncertain world,” he said.
Yu reiterated China’s commitment to expanding market access, particularly for least-developed countries in Africa.
According to him, this is exemplified by the zero-tariff treatment pledge made during the recent Forum for China Africa Cooperation’s (FOCAC) Beijing Summit.
He highlighted the tangible opportunities that had emerged for African nations as a result of China’s market initiatives.
Yu also expressed optimism about the potential for enhanced cooperation between China and Nigeria in various sectors, such as increased exports, investments in key industries, and infrastructure development.
The envoy underscored the positive impact such collaborations could have on the economic growth and modernisation of Nigeria.
He stressed China’s dedication to work closely with Nigeria to realise the outcomes of the FOCAC Summit and promote mutually beneficial partnerships.
Yu highlighted China’s shared commitment to upholding a multilateral trading system, combating protectionism, and fostering a fair international environment for economic progress and global cooperation.
“Together, we will uphold the multilateral trading system, resist protectionism, and foster an open, inclusive, and fair international environment.
“Our shared goal is to advance an equal and orderly multipolar world and a universally beneficial and inclusive economic globalisation, building a community with a shared future for humanity,” he said.
