Abuja: Nigeria and China have signed a framework agreement on economic partnership to strengthen cooperation in trade facilitation, digital economy, resilient supply chains, and inclusive growth. This is contained in a statement by Augustina Obilor-Duru, Head, Press and Public Relations, Ministry of Industry, Trade and Investment.
According to News Agency of Nigeria, the agreement was signed by Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, and China’s Minister of Commerce, Mr Wang Wentao, in Yaound©, Cameroon. Oduwole highlighted that the agreement establishes a flexible and non-binding framework to guide future negotiations and economic cooperation between the two countries, focusing on four priority areas: inclusive and green growth, resilient supply chains, and the digital economy.
Specific cooperation modules under the agreement will be implemented based on mutual consent from both countries. Oduwole emphasized that the framework would provide a structured platform for deepening economic cooperation, aligning with Nigeria’s national development priorities, particularly industrialisation, job creation, and export diversification. The partnership is also seen as supporting the Renewed Hope Agenda of President Bola Tinubu.
Dr Oduwole noted that Nigeria is committed to pursuing partnerships that enhance its position in regional and global value chains, ensuring inclusive and sustainable economic growth. The agreement is part of Nigeria’s broader strategy to expand trade and investment partnerships, aiming to enhance competitiveness and position Nigeria as a leading economic hub in Africa. Additionally, the agreement aligns with continental economic initiatives designed to boost intra-African trade and development.