2012 Lagos International Trade Show, Nigeria

In 2011, thousands of companies and local Nigerian companies from 17 countries and regions including Benin, Ghana, China, Taiwan, India, Germany, Kenya, Cameroon, the United States, Japan, South Korea, the United Kingdom and Malaysia participated.

China has more than 70 enterprises from Zhejiang, Shandong, Guangdong, Shanghai, Tianjin, Beijing, Jiangsu, Fujian, Chongqing, Hebei, Henan and other provinces and cities, with an exhibition area of ​​2,200 square meters. During the exhibition, the China Pavilion received 30,000 visitors, including nearly 15,000 professional buyers from 19 countries and regions including Nigeria, Ghana, Benin, Kenya, South Africa, Chad and Angola. About 80% of companies have trade deals or find intent customers, and some companies plan to set up branches in Lagos or reach a cooperation intention with local companies.

The Consul General of the Chinese Embassy in Nigeria, the Commercial Consul of the Consulate General in Lagos, the Chairman of the Lagos Chamber of Commerce and Industry, and the Chairman of the Nigerian Chamber of Commerce and other guests visited the booth of the China Pavilion. Xinhua News Agency and many local media reporters attended the conference to publicize the report. The China Pavilion won the “Best Foreign Exhibitor Award” for its meticulous organization and decoration.

“It is expected that Nigeria will become the largest export destination of Chinese goods in Africa in the next five years,” said Rong Yansong, Commercial Counselor of the Chinese Embassy in Nigeria. It has a large population, abundant natural resources, sufficient foreign exchange reserves, and strong market purchasing power. This is Rong Yansong's evaluation of Nigeria's economic and trade development environment.

【Market Introduction】

(1) Nigeria has a large population, abundant resources and huge market potential.

With a population of 154 million, Nigeria is the most populous country in Africa with a huge consumer market. Nigeria is rich in agricultural products, forest products and mineral products. Its oil reserves and production rank first in Africa and sixth in the world. It is one of the member states of the Organization of Petroleum Exporting Countries (OPEC) and has sufficient ability to pay. Nigeria is the second largest economy in Africa, with rapid economic development and an average annual GDP growth rate of 5%-7%. Nigeria is the largest trading partner of China's West Africa region.

(2) Nigeria's infrastructure is relatively backward, the manufacturing base is weak, and import demand is large.

After the independence of Nigeria in 1960, the oil trade was vigorously developed. When a large amount of foreign exchange was obtained, it also led to a single category of domestic economy, and almost all industrial manufactured goods were imported. The Nigerian government plans to improve infrastructure, construction machinery and materials demand is booming, and other machinery and vehicle accessories also have a larger market. The Nigerian government encourages Chinese companies to import Nunon, forestry and mineral products.

(3) Nigeria's economic recovery and economic development speed up

The World Bank and other authoritative economic assessment agencies are optimistic about the economic recovery and development of Nepal. It is time to enter Nigeria. Nigeria welcomes Chinese companies' investment cooperation and contract construction projects.

(4) Port City Lagos

Lagos is the old capital of Nigeria. The largest city in Africa is also Nigeria's economic center, financial center, industrial center and logistics center. 80% of Nigeria's business activities are concentrated in Lagos. Lagos is the best pedal for companies to enter the Nigerian and African markets.