THE PEOPLE’S REPUBLIC OF CHINA (PRC)-NIGERIA PARTNERSHIPS: THE IMPLEMENTATION OF FORUM ON CHINA-AFRICA COOPERATION (2014-2016)

Abstract

The rising of the People’s Republic of China (PRC) as a new superpower country with the fastest economic growth has led its interest to Africa continent. The existence of Nigeria as one of the biggest countries in Africa cannot be neglected as Nigeria is rich by its natural resources. To strengthen the bilateral trade between PRC and African country including Nigeria, both side of PRC and Africa agreed to established Forum on China-Africa Cooperation (FOCAC) as a place to exchange dialogues and create partnership plans in order to seek the mutual development between PRC and the African country. Both of states having trade bilateral relations which are increased every year, however, there is the imbalance trade which is giving favor to PRC. Nigeria as an under-developed country needs the budget and plan to renovate and improve their countries and increase its import, meanwhile, PRC as the biggest industrial country needs energy supply for keeping the industries going and a new market to export their products. Under the FOCAC, both of countries could plan and implement the programs in order to achieve the mutual development. This study will describe and analyze by obtained the data through journals, book, and website regarding about PRC and Nigeria partnerships under FOCAC in order to strengthening the bilateral trade and implement the programs of reducing the trade imbalance between Nigeria and PRC during 2014-2016.