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China and Nigeria have agreed to put in place measures to tackle importation of substandard products into the country.
China and Nigeria Chamber of Commerce (CCCN) President, Ye Shuijin, stated this yesterday, while addressing reporters in Abuja. He insisted that most of the imported fake products were not made in China.
He said the Chamber and Standards Organisation of Nigeria (SON) have some agreements to check influx of substandard products into the country.
“Most of the substandard products that came to Nigeria are not from China because the Chinese government has well structured standards in place for its products.
“China products are of high quality, nonetheless the Chinese government is already cooperating with Nigeria to promote importation of quality products to Nigeria,” he said.
The quality of imported products, such as iron rods, bulbs, sockets, cables and fittings have always been allegedly traced to China.
SON raised an alarm last year that 40 per cent of electrical and electronic appliances imported into Nigeria “are substandard and have caused disasters with destruction to lives and property.”
It was also observed that all manner of uncertified food items are dumped in the country.
The National Bureau of Statistics (NBS), also said Nigeria spent N212.73 billion to import agricultural products in the last quarter of last year.
The Chamber chief therefor stressed the need to guide importers to do the right thing and not to import substandard products to Nigeria.
Shuijin urged the importers and the consumers to be vigilant and reject any noticed substandard products for the development of the economy.
The president said the chamber and the Chinese government always encourage investors from China to invest in the manufacturing sector and help in the development of the economy.
He said Nigeria, because of its population, has the market which he said was an added advantage to attract investors into the country.
Shuijin assured that more Chinese investors would be willing to invest in Nigeria.
Source: The Nation, 24th August 2017
The cooperation took place to to strengthen the market position and to provide African partners with essential goods especially tools for craftsmen.
The company Elementaro is a well known provider for craftsmen tools and craftsmen clothing.
The CEO of Dusira UG Michael Patotschka tells that this will be the next important step to give assistance in establishing independent companies in Africa and to empower SME’s and startups.
First, increased investment in Africa’s infrastructure is critically needed. The substantial an rapidly increasing amount of capital being allocated to this sector provides a great growth opportunity.
Second, there are compelling opportunities across the continent for consumer goods and services, particularly given limited growth opportunities in much of the developed world. This opportunity for investment in consumer growth across Africa is underprimed by three trends: a growing population, rapid urbanisation and an emerging middle class.
However, it’s important not to discount commodities, which will remain the most obvious opportunity. Africa holds a large proportion of the world’s mineral reserves, and the continent’s significant reserves of oil and gas make it well poised to play a key role in the supply of the world’s energy needs, particularly as other emerging economies grow and the demand for precious metals follow suit.
Free movement of people and goods will also be a major driver of growth in Africa in the coming years.
Source: African Businees, May 2017