The volume of trade between Nigeria and the Peoples Republic of China in 2009 stood at 6.373 billion dollars, Mr. Guo Kun, the Consul-General of the Asian country’s Consulate, said in Lagos.

Guo announced the figure when some members of the Nigeria-China Business Network Group, led by Chief Charles Adebiyi, a real estate consultant, paid him a visit in his office.

He said China’s exports to Nigeria totaled 5.476 billion dollars (N825 billion), observing that the bilateral trade had grown “steadily’’ in the
past few years.

“In 2009, the volume of bilateral trade was $6.373 billion (N960 billion) and exports to Nigeria were $5.476 billion (N825 billion),’’ he said.

According to him, inasmuch as China does not target trade surplus with Nigeria, the Asian country wishes to work with Nigeria to balance the trade.

Guo said the economic structures of the two countries accounted for China’s trade surplus with Nigeria. Manufacturing was an important part of China’s economy, while the oil industry was a prime sector in Nigeria’s economy, he noted.

The consul-general said that currently, Nigeria exported limited crude oil to China, noting that this led to the trade imbalance.

He said the two countries were committed to solving the imbalance through cooperation.

Adebiyi said the visit was to strengthen the business group’s relationship with China after touring five Chinese cities in April. He said the members were seeking the consul-general’s cooperation in smoothing investment opportunities in infrastructure development and real estate.