China has pledged to import more Crude Oil from Nigeria.
According to the country’s Deputy Chief of Mission in Nigeria, Mr. Zhang Bin, the Chinese government is interested in Nigeria’s oil and this was discussed when President Goodluck Jonathan visited China in 2013.
Zang said “And I think we are working on this and we hope that the Nigerian side would allow us to import more.
“Actually what we are looking at is improved economic cooperation between the two countries, we are the third largest trade partner with Nigeria”
Zang added that the in 2013, the trade volume between Nigeria and China was $13.5 billion.
He said “In 2013, the trade volume between Nigeria and China was $13.5 billion and then according to our statistics, from January to November 2014, the trade volume already amounted to $16.47 billion.
“So that means that in the first 11 months, the trade volume exceeded that of the year 2013, which indicates an increase of 35 per cent over the previous year.
“We do have this problem of trade imbalance and the Chinese side is going all out to solve it.
“One of the solutions is that we encourage more Chinese enterprises and companies to import more from Nigeria, especially agriculture products and also some of the manufactured products.”
He also revealed that imports into China from Nigeria increased by a large margin last year.
In the first 11 months, there was an increase of 93.7 per cent in China’s imports from Nigeria, adding that the import percentage was almost doubled.