Monday, March 4, 2024

China, Kano business community partner on agric commodities exchange promotion | The Guardian Nigeria News – Nigeria and World News

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The China-African International Economic and Trade Promotion Council and the Kano Business Community have mutually agreed to promote agricultural commodities trade.

The exchange trade partnership is intended to explore the exportation of the local agricultural value chain from Kano to the Republic of China, and the import of sustainable technology solutions to Nigeria.

Addressing a business roundtable yesterday in Kano, the leader of the Chinese trade delegation and Secretary-General of China and African Trade, Ms Liu Yajuan explained that the council is the second largest in China with over ¥166 billion (Chinese Yuan) volume of trade.

Besides, Ms Yajuan said the China-Africa International Trade Promotion Council is holding an agric trade expo slated for June/July 2024 in China where 309 commodities will be opened for export demand with over US$54.7 billion business opportunity for African countries.

The Secretary-general contended that the Chinese council has reached an agreement with the Kano business community under Golden Yabanya Limited to establish an agricultural processing factory in Kano, for value addition to Ginger, Hibiscus, and peanuts before export to China.

To actualize the establishment of the factory, she explained that necessary equipment for the processing factory would be imported and assembled in Kano, thereby creating job opportunities for the youthful population.

According to her, the council requires 180,000 metric tons of Hibiscus flower, 500 metric tons dry Ginger and 50,000 metric tons of peanuts from Africa to meet its annual demand.

Convener of the roundtable trade exchange, Mohammad Kabir Haruna said the plan establishment of processing factory in Kano will not only boost economic viability but also reduce the level of export of raw materials abroad and enhance the country’s Gross Domestic Income GDP.

Haruna, who is also the Chairman of Golden Yabanya Limited Kano was considered for the foreign business trade because of its cooperative advantage in the production of Hibiscus flower, Ginger and Seseme.

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