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Speech by Acting Consul-General Qiu Jian at Standard Chartered Bank Chinese New Year Party

The Oriental Hotel, Lagos, 17 February 2012


Distinguished Mrs. Bola Adesola,

Dear friends from Chinese enterprises in Nigeria,

Ladies and gentlemen:

Good evening!

It's an honor to be here tonight to speak to standard chartered bank Chinese New Year party. Thank you, Mrs. Bola, and the management and staff of standard chartered bank Nigeria limited for inviting us.

Nigeria and China enjoyed smooth and fruitful bilateral relationship since the establishment of diplomatic relationship on Feb. 10th 1971. with the declaration of setting up strategic partnership by the two governments in Apr. 2005, our relationship matured into an all-new bright phase, not only on the aspect of political relationship, but also including economy, trade, cultural, etc. we are making tangible progresses on every fronts. Here are some statistics: in the year of 2011, our bilateral trade volume has reached 10.8 billion us dollars. China becoming the second largest trading partner to Nigeria, and Nigeria is china's fourth largest marketing country in Africa. When Nigeria's export to china is 1.58 billion, it did enjoy a rapid increase of 48 percent comparing to the previous year. The total direct investment from china to Nigeria amounts to 8.41 billion us dollars. That also explains why so many Chinese enterprises making their presence tonight. It's no harm to admit that the Chinese companies came here aiming commercial gains, which is the incentives for all, not excluding the Chinese ones. But in the meantime, Chinese companies here do bring in investment, technology, training for the local staff and most important, local employment. Allow me to take Huawei Technologies Company Nigeria limited for example, which entered Nigeria market in 1999, and now with a troupe of 400 Chinese engineers together with more than 3000 local engineers and white-collar office clerks. What we can tell today is, when Chinese come, we work together with Nigerian to make progresses in this country, when Chinese investments come, we are enhancing the local employment and local business.

Not only we made great achievements with Nigerian colleagues in the past, I would say bright future with great potential is also awaiting for us. When most of the countries in the world undergoing depression or suffering debt crisis, Nigeria and china are enjoying tangible GDP growth, 7.5 percent with Nigeria and 9.2 percent with china respectively. The robust economic progress of the two economies means great potential and room for bilateral cooperation. I would expect more Chinese enterprises are willing to come here to explore business opportunities and logically more Chinese business opportunities for standard chartered bank Nigeria limited.

Thank you all and wish you a great and prosperous Chinese New Year of Dragon.

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