Buhari seeks reduction in Nigeria, China’s high trade imbalance
President Muhammadu Buhari on Tuesday in Beijing called on the Nigerian and Chinese business communities to work harder to reduce the trade imbalance between both countries which is currently in China’s favour. He spoke at the opening of a Nigeria-China Business/Investment Forum in China. According to a statement by the Special Adviser on Media and Publicity, Femi Adesina, the President said that trade and economic relations between both countries must be mutually-beneficial and conducted with reciprocated respect and trust. He said: “Although the Nigerian and Chinese business communities have recorded tremendous successes in bilateral trade, there is a large trade imbalance in favour of China as Chinese exports represent some 80 per cent of the total bilateral trade volumes. This gap needs to be reduced. “Therefore, I would like to challenge the business communities in both countries to work together to reduce the trade imbalance. “You must also imbibe the spi...