In Beijing, China, the third Belt and Road Forum (BRF) for International Cooperation was held from October 17 to 18, under the theme: “High-quality Belt and Road Cooperation: Together for Common Development and Prosperity”. A keynote speech was delivered by Xi Jinping, the Chinese President. President Xi stated that building a new platform for international economic cooperation, creation of new opportunities for global development, and introduction of new impetus into the global economy can be achieved by the Belt and Road Initiative (BRI).
There has been an extension by the Belt and Road cooperation from the Eurasian continent to Latin America and Africa, with more than 30 International organizations and over 150 countries, engaging BRI documents. The 8 major steps that will be taken by China, to encourage joint pursuit of high-quality Belt and Road cooperation, was announced by President Xi. Some of the steps include strengthening institutional building for international BR cooperation, promotion of integrity-based BR cooperation, supporting people-to-people exchanges, advancement in scientific and technological innovation and others.
40 million people were elevated out of poverty through BRI.
The 2023 Conference marked the 10th anniversary of the BRI that was initiated by President Xi. The cooperation under the BRI platform has grown globally over the past ten years. Also, 40 million people were elevated out of poverty, $1 trillion in investments were generated and over 3,000 cooperation projects were constructed under the BRI framework. Historical achievements have been made by the Belt and Road cooperation as over 150 countries have benefited from it; this has also opened up a road of opportunity, prosperity and cooperation leading to common development.
Additionally, the third BRF is another achievement in the procedure of the joint building of the Belt and Road, and is a significant event to celebrate the 10th anniversary. Over 10,000 delegates, 151 countries, and 41 international organizations attended the forum, portraying the global influence and appeal of the China-proposed initiative. As a result of a 458-outcome achievement, the Forum was tagged as a complete success. Apparently, Nigeria is a major partner of BRI. Sen. Kashim Shettima, Vice President, had a meeting with the Xi Jinping, the Chinese President, and Han Zheng, Chinese Vice President.
Chinese gov’t is ready to grow the partnership with Nigeria.
President Xi noted that, in the BR cooperation between Nigeria and China, there have been many highlights. He said that there have been remarkable and completed achievements of projects between them which have enhanced the growth of free trade areas, such as communication backbone networks, power stations, ports, railway and many more. He restated that China is ready to grow the partnership with Nigeria for more successful outcomes, which will then aid agricultural modernization and industrialization in Nigeria. Also, he noted that the country is ready to promote personnel exchanges in Nigeria at all levels.
Also, China was congratulated by Shettima, the Vice President for the hosting of the third BRF. He noted that there has been a cordial relationship between China and Nigeria. He expressed his gratitude for the global cooperative initiatives developed by China to render invaluable assistance for development of Africa and boosting the industrialization process in Nigeria. He highlighted the High-Level Forum on Digital Economy, stating that the instrumentality which existed between Nigeria-China bilateral relations will aid the improvement of the Nigerian tech space.
Nigeria-China bilateral cooperation aids the China-Africa cooperation.
Furthermore, in Beijing, Shettima witnessed the MOU signing between three Chinese partners and the National Agency for Science and Engineering Infrastructure for the initiation of new projects at the cost of $2 billion, with a $4 billion investment between Nigerian and Chinese partners, with a letter of intent. The standard bilateral cooperation between Nigeria and China has played the role of a pace-setter for the China-Africa cooperation, since the establishment of diplomatic ties in 1971 and strategic partnership in 2005. According to report, the Belt and Road cooperation agreement was signed by Nigeria and China in 2018. Completed projects include Lagos-Ibadan train route, Lekki Deep Sea Port and others.
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China-Nigeria Belt and Road cooperation. – Building a new platform for international economic cooperation. – Express your point of view.
I agree with you, the China-Nigeria Belt and Road cooperation is a significant step towards building a new platform for international economic cooperation. This initiative aims to enhance connectivity and promote trade and investment between China and Nigeria, as well as other countries along the Belt and Road route. It involves the development of infrastructure projects such as roads, railways, ports, and energy facilities, which can greatly improve transportation and logistics capabilities.
Through this cooperation, Nigeria can benefit from increased foreign direct investment, technology transfer, and job creation. It can also help diversify the Nigerian economy and reduce its dependence on oil exports. The Belt and Road initiative can open up new markets for Nigerian goods and services, allowing for greater export opportunities.
Additionally, this cooperation can foster cultural exchanges and people-to-people connectivity between China and Nigeria. It can promote mutual understanding, friendship, and cooperation in various fields, including education, tourism, and cultural exchanges.
Overall, I believe that the China-Nigeria Belt and Road cooperation has the potential to bring about positive economic and social impacts for both countries. It can create new opportunities, strengthen bilateral ties, and contribute to the development and prosperity of the global community.
The Belt and Road Initiative will do everything in its power to lift our people out of poverty. They will become much more empowered as a result, and it will advance the growth and development of our country.
The China-Nigeria Belt and Road Cooperation has the potential to significantly boost economic development and infrastructure in Nigeria. It’s crucial for Nigeria to continue fostering this partnership to advance its industrialization and technological growth. Collaborations like this can be instrumental in driving progress and enhancing international cooperation.
The Belt and Road initiative between China and Nigeria offers a stimulating chance to create a new framework for global economic cooperation. It may result in advantages for both parties and develop connections among them.