Michael Olugbode in Abuja
Chinese Ambassador to Nigeria Cui Jianchun said bilateral relations and trade between China and Nigeria will soon reach a new higher level.
He made the revelation in Abuja during a media conversation on the occasion of the Moon Festival or Mid-Autumn Festival in China, one of the most important traditional festivals in the country.
He said: âEarlier this year Nigeria and China co-celebrated the 50th anniversary of their diplomatic ties. As the 14th Chinese Ambassador to Nigeria, I have been here for almost six months and have been deeply impressed that Nigeria is a treasure trove not only of natural resources but also of human resources. How to develop bilateral relations on the basis of the gains obtained has always been a key question in my mind. “
He revealed that: âIn order to usher in an even brighter future for Sino-Nigerian relations, I introduced the 5GIST strategy of Nigeria-China GDP. Changing times require a change of strategy. Solos and duets cannot meet the demand of our bilateral relations. The two countries are to form an orchestra to play a symphony under the Belt and Road Initiative (BRI).
âNigeria-China 5GIST GDP Strategy consists of 4 parts, which are 5G, 5l, 5S and 5T. 5G refers to the 5 objectives of the strategy, which are political consonance, economic cooperation, military and security collaboration, international coordination and popular communication. 5I refers to five words initialed with ‘I’, i.e. infrastructure, ICT, value-added industry, investment (as in agriculture, aquaculture, mining, oil and gas, l (financial integration, etc.) and import and export, these are the priority areas of bilateral cooperation.
â5S designates five words initialed byâ S â, that is to say security, structure, speed, synergy and supervision, which are the conditions of bilateral cooperation. 5T refers to five words initialed with “T”, that is, the exchange of thoughts, the cultivation of talents, the capitalization of treasures, the application of technology and the transcendence of tradition, which are guarantees of our cooperation.
Jianchun, who also used the celebration to present awards to 50 Nigerians working with Chinese companies in the country, said âin nine days we will be celebrating the 72nd anniversary of the People’s Republic of China. Over the past 72 years, China’s productivity and overall national strength have made historic progress.
âChina’s GDP has grown from about $ 10.5 billion in 1952 to $ 15.7 trillion in 2020, an increase of about 189 times in real terms. From 1979 to 2020, China’s GDP grew at an average annual rate of 9.2%, well above the growth rate of the world economy of about 2.7% during the same period, and the speed and duration of economic growth are seldom observed in the world. According to the International Monetary Fund’s World Economic Outlook database, China will account for 17.4% of the world economy in 2020. “