The Shanghai Plutuo Federation of Industry and Commerce has signed a Memorandum of Understanding (MOU) with the Nigeria-China Friendship Association (NICAF).

A NICAF trustee and former Director, Asia and Pacific in the Ministry of Foreign Affairs, Ambassador Adegboyega Ariwo, said the MoU was in furtherance of the Strategic Partnership Agreement signed by Nigeria and China in January 2006.

“It is to translate the Strategic Partnership Agreement into more meaningful, people-to-people interaction.

“So, the business people and the industrialists are using this forum to put into effect the ideas of the Federal Government that there should be deeper economic engagement between Nigeria and China.

“This MoU is part of the people-to-people engagement,” he said.

Leader of the Chinese delegation Huang Haiping said through the MoU, Nigerian and Chinese businessmen can collaborate on areas of investment, such as agriculture and small-scale industries.

“We’ll get more Chinese investors, who have funds to invest, to come to Nigeria. The MoU will further strengthen the economic ties between Nigeria and China,” he said.

NICAF Chairman Jacob Wood said Nigeria needs more investment in food production, adding that more investment in agriculture will create employment.