A Chinese trade delegation on a visit to Cross River state has made known its intention to open a truck manufacturing plant within Calabar Free Trade Zone.
Leader of the group and Deputy Mayor of Chang Chun City, China; Mr. Gui Guangli, disclosed this to Governor of Cross River; Liyel Imoke, during a visit to his office in Calabar, the state capital.
Guangli said the team had spent two days in the state exploring possible areas of investments and having found that there are great opportunities, it decided to start with the establishment of a truck plant.
The Deputy Mayor maintained that manufacturing company has eleven outlets across the world including Japan, Germany and United States, adding that from their study, the state is conducive for investments coupled with the airport, seaport and free trade zone.
He remarked that the trucks which will be produced in Calabar will be of high technology and high class and that volume of production will be determined by the economic indices of demand.
Guangli added that the trade mission was also intending to invest in agriculture and pharmaceutical sectors as a result of their further findings, saying that China and Nigeria have an age long commerce relationship.
He commended Mr Imoke for making available necessary infrastructure for the state’s economy to grow.
Fastest growing economy
Responding, the Governor said that Cross River is one of the states with fastest growing economy in Nigeria and its people peaceful and hospitable.
He also disclosed that it is the state’s economy thrust that in order to build a strong economy, those who invest in agriculture should plant, harvest and process the produce in the state in order to create a value chain which will impact greatly on its citizenry, hoping that a partnership in that direction will contribute significantly to the growth of the state and its people.
Imoke explained that the state will collaborate with the mission to explore areas where it has comparative advantage as it was expecting more areas of support and cooperation.
According to him, Cross River has a vast land mass for agriculture with tremendous environment and is partnering the private sector to ensure that conducive environment is available for investment.
The General Manager of Calabar Free Trade Zone, Mr. Sadiq Kassim, said the visit was as a result of collaboration between the state government and the zone to bring investments into the state.
Kassim said Chang Chun City which has a population of over seven million wants to invest in Nigeria through its chambers of commerce, saying that the trade mission intends to build a truck manufacturing company within the Calabar Free Trade Zone.
He explained that the automobile company has the financial capacity and technological know-how to invest in the state having found that the state is conducive for foreign investors and investments.