On March 26, on the sidelines of the 14th Ministerial Conference of the World Trade Organization, Minister of Commerce of China Wang Wentao and Minister of Industry, Trade and Investment of Nigeria, Jumoke Oduwole, signed the Framework Agreement on Economic Partnership for Shared Development between the Government of the People’s Republic of China and the Government of the Federal Republic of Nigeria (hereinafter referred to as the “Framework Agreement”). This marks the 34th framework agreement China has signed with African countries.

The Framework Agreement stipulates that the two sides will jointly promote the development of Nigeria’s manufacturing industry, facilitate the transformation and upgrading of its agriculture, enhance its global market competitiveness, and assist its better integration into the global economy. Negotiations will be conducted in areas including the liberalization and facilitation of trade in goods and services, strengthening cooperation on green development, investment, and digital trade. The signing of the Framework Agreement represents a crucial step in implementing the guiding principles of the fourth plenary session of the 20th Central Committee of the Communist Party of China and the outcomes of the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC). It stands as another significant achievement in bilateral economic and trade cooperation between China and Nigeria and will contribute to the establishment of a long-term, stable, and predictable institutional framework for trade and investment between the two countries. (Released on March 27)