(Lagos, Nigeria). The Nigerian Export Promotion Council (NEPC) marked a significant milestone yesterday as it inaugurated an Export Trade House (ETH) in Hunan Province, China. The move, part of a concerted effort to enhance the export of Made-in-Nigeria products to China, signifies a collaborative venture between NEPC and Zeenab Foods Limited under a Public-Private-Partnership agreement.
Dr. Ezra Yakusak, the Executive Director/CEO of NEPC, revealed the objectives behind the ETH initiative. Aimed at strengthening sustainable trade ties between Nigeria and China, the ETH seeks to elevate the presence of Nigerian products in target markets, foster foreign exchange inflows, and boost the national economy.
Dr. Yakusak emphasized the strategic activities lined up to achieve these goals, including B2B meetings, a Business and Investment Forum, engagements with business leaders and government officials, and on-site visits to end-users of Nigerian commodities such as sesame seeds.
In a bid to harness the full potential of the ETH, Dr. Yakusak extended invitations to key financial institutions in Nigeria, including the Central Bank of Nigeria (CBN) and Nigeria Export-Import Bank (NEXIM), among others.
Furthermore, Dr. Yakusak highlighted the NEPC’s appointment as a competent authority in Nigeria for the General Administration of Chinese Customs (GACC). The GACC, a new clearance system introduced by China’s Customs Department, mandates overseas food manufacturers, processors, and storage facilities to register under the system for compliance with Chinese import policies.
To meet these requirements, Dr. Yakusak noted that the NEPC has registered 34 companies and eleven different products, ranging from sorghum/millet to cocoa beans, ensuring adherence to Chinese import regulations.
The Ambassador of Nigeria to China, His Excellency, Baba Ahmad Jidda, underscored the strategic importance of the ETH in diversifying revenue sources amid global shifts towards renewable energy. He lauded the launch as a foundation to strengthen and sustain the bilateral relationship between Nigeria and China.
The opening of the China ETH marks NEPC’s fourth operational ETH, joining locations in Cairo, Egypt, Lome in Togo, and Nairobi in Kenya. Dr. Yakusak revealed that China secured the third position on the list of Nigeria’s top ten export destinations in 2022, with a total export performance of $375.185 million. (GT)
