Economy World News

We are ready to resolve trade issues with US – China

Written by Maritime First

…As Envoy says Nigeria-France Business Investment Forum will boost trade, attract investors***

Global economy may finally be on its way to gathering momentum as the Government of the People’s Republic of China (PRC) on Thursday indicated its preparedness to resolve, through dialogue, its lingering trade disputes with the United States.

The State Council Information Office of the People’s Republic of China said in a statement that China was committed to resolving issues with the U.S. with patience and sincerity.

“It is only natural for China and the U.S., the two largest economies and trading nations in the world, to experience some differences over trade and economic cooperation.

“What truly matters is how to enhance trust, promote cooperation and manage the differences.

“China remains committed to resolving issues through dialogue and consultation, responding to US concerns with the greatest patience and sincerity, properly handling differences, while seeking common

grounds, and overcoming obstacles to practical solutions.

“The Chinese Government believes that economic and trade consultation is an effective way to solving issues. Negotiation will get nowhere if one side tries to coerce the other or if only one party will benefit from the outcomes,’’ it said.

The Chinese Government also said that it would act rationally in the interest of the Chinese people, the American people,and other peoples around the world, adding that China was open to negotiations.

According to it, striking a mutually beneficial and win-win agreement serves the interests of China and the US, as well as meet the expectations of the world.

“As to where the China-US economic and trade consultations are heading, China is looking forward, not backward.

“It is hoped that the US can pull in the same direction with China and, in a spirit of mutual respect, equality and mutual benefit, manage economic and trade differences, strengthen trade and economic cooperation,’’ it said.

US and China will resume trade talks ahead of a meeting between their leaders at a G20 summit next week, US President Donald Trump has said.

Mr Trump said on Twitter he had a “very good” call with Chinese President Xi Jinping and their teams would start talks before they met in Japan.

The US escalated tensions with tariff hikes in May, derailing months of talks between the economic powerhouses. The two countries have been fighting a damaging trade war over the past year.

The Chinese president said he was prepared to meet with Mr Trump at the G20 meeting next week, according to state media Xinhua. Mr Trump said he would have an “extended meeting” with his Chinese counterpart at the summit in Japan.

Meanwhile, the Nigeria Ambassador to France, Modupe Irele, says the Nigerian-France Investment Forum will create a platform to boost trade relationship between both countries and an opportunity for more French investors in Nigeria.

The Ambassador said this during a news briefing to begin the three-day Business and Investment Forum, holding from June 19 to June 21 in Abuja.

She said that the Nigeria-France Business and Investment Forum is an initiative that was established on Oct. 1, 1960, with the aim of strengthening trade relations between both countries.

Irele said that in 2018, both countries recorded business worth of over four billion Euros in bialateral trade, which makes Nigeria a leading trade partner with France in the Sub-Saharan Africa.

According to her, there is already a good economic relationship between both countries, but there is a need to take the relationship further.

“What we have noticed in France is that the country has lots of interest in Nigeria, but it remained at interest.

“So, we want to bring these companies who have shown interest in Nigeria so that they can move from talk to action.

“When we talk about trade between two countries, it is a two-way relationship; it is trade that will benefit them and that will also benefit us.

“The objective of the forum includes facilitating the ease to do business in Nigeria for French countries and investors through engagements with top economic policy makers and regulators in the country.

“It also includes providing a platform for interaction between prospective French investors and Nigeria’s High Level economic policy makers as well as business regulators.

“It will spotlight various business opportunities in various parts of Nigeria and promote the country’s attractiveness as a major investment hub in Africa.

“It also aims to create an enabling environment for business to business networking between French investors and Nigerian businesses seeking foreign partners.

“It will support the Federal Government economic diversification policies and foreign direct investment drive,” Irele said, noting that 25 French companies and business groups from different sectors will be participating in the Business and Investment Forum.




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Maritime First