Home Business Abuja Chamber of Commerce signs economic cooperation MOU with Yantai counterpart in China
Abuja Chamber of Commerce signs economic cooperation MOU with Yantai counterpart in China

Abuja Chamber of Commerce signs economic cooperation MOU with Yantai counterpart in China


In order to deepen economic ties and fast track activities along that line between China and Nigeria, a Memorandum Of Understanding (MOU) between the Abuja Chamber of Commerce and Industry (ACCI) and the China Council for Promotion of International Trade (CCPIT)  Yantai Council has been signed.


The ceremony took place at the Haitian Orient Hotel in the coastal city of Yantai in China during the business event organised by CCPIT as part of activities to marking the 2018 Seminar organized by CCPIT for the Belt and Road Countries.
Abuja Chamber signed the partnership agreement through its Head of Media, Strategy and Agriculture Development, Mr. Lubem Gena while the Yantai side was signed by its President, Mr. Liu Shi Min, the Chairman of the China Chamber of International Commerce Yantai chapter.
According to the terms of the critical agreement, the MOU was signed on the basis of equality and mutual benefit and the parties did so in order to strengthen bilateral ties, investment and international cooperation.
According to Mr. Gena, “the parties are in complete agreement that good cooperative relations should be established, mutual understanding should be deepened and economic communications and development in investment and trade should be promoted.
“The parties also agree that information exchange should be strengthened. The parties will regularly exchange economic and trade information and local business dynamics, publication and digital information on economic and trade will be sent between the parties.
“In the agreement too, good business investigation service will be provided for investors on both sides. Information, business and legal services will be offered upon accepting trust of investors from both sides.
“In order to develop economic and trade exchanges, the parties will organize various economic and trade delegations for business negotiations and visits between each other.
“The parties resolved to provide convenience in trade partner introduction, business forum organization and industry research, besides opportunities of contact between companies of both sides need to be created actively for the development of economic and trade exchange and cooperation”.
Mr. Lubem also stated that the MOU provided encompassed the need for all assistance and convenience for exhibition of business seminars organized by the other party , recommend exhibitions held by the other party and help to invite companies to a trend the corresponding project activities.
The validity of the agreement will be extended automatically unless either of the parties sends the written notice of termination to the other.
Other bodies that signed similar MOU are the Sokoto Chamber of Commerce, Industry, Mines and Agriculture (SOCCIMA), Nnewi Chamber of Commerce and Industry as well as those of Kenya and South Africa.


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