China

Overview

The Nigeria–China Bilateral Trade Agreement refers to a set of trade, investment, and economic cooperation arrangements between Nigeria and the People’s Republic of China. These agreements are designed to strengthen trade relations, promote investment, and enhance economic cooperation between the two countries.

Objectives of the Agreement

The main objectives of the Nigeria–China trade relationship are to expand bilateral trade, support infrastructure development, encourage technology transfer, and promote industrial growth in Nigeria. The agreements also aim to deepen economic ties and facilitate mutually beneficial trade and investment opportunities.

Key Features

Key features of the Nigeria–China trade arrangements include preferential trade terms for selected goods, cooperation in sectors such as manufacturing, energy, agriculture, and telecommunications, and Chinese investment in Nigerian infrastructure projects. The relationship also includes financing agreements, export credit arrangements, and the establishment of industrial parks and free trade zones.

Relationship with WTO Rules

The Nigeria–China bilateral trade agreements operate within the WTO framework and are subject to WTO principles such as non-discrimination and transparency. As bilateral arrangements, they must comply with WTO rules on preferential trade, ensuring that any concessions granted are consistent with WTO obligations.

Significance in Nigeria–China Trade Relations

China is one of Nigeria’s largest trading partners, and the bilateral trade agreements have significantly increased trade volumes between the two countries. These arrangements have contributed to infrastructure development, industrial capacity building, and increased access to Chinese markets, while also raising discussions on trade balance and local industrial competitiveness.