HOW THE CHINA-AFRICA TRADE SOLUTION WILL HELP FX PROFITS

The Africa-China Trade Solutions (ACTS) is to increase FX profits for African businesses to explore new markets and broaden their customer bases.

According to a study, Stanbic IBTC Holdings has persisted in bridge to facilitate Nigerian and Chinese importers, promoting global trade.

Beyond removing language obstacles, ACTS seeks to help Nigerian validate high-quality products from the most aggressive and reliable suppliers in China in a safe manner.

The International Trading Supply Chain Company Limited, makes sure Nigerian importers get the best deals in areas like finding the best suppliers for their companies and negotiating the best rates and trade terms for their customers.

On top of that, to handle shipping logistics and delivery to the destination based on the preferences of the clients, validate and guarantee the quality of goods from the suppliers meet the agreed-upon and facilitate trade negotiations and discussions.

Ade Otukomaya, Head of Africa China Banking at Stanbic IBTC Bank, spoke about important industries that require collaboration.

The agricultural industry in Nigeria offers a wide range of prospects. These prospects will promote agricultural growth and increase agricultural export. Overall, agricultural specialists believe that the nation has the ability to generate significant foreign exchange inflows for the country, decreasing trade imbalances in the process.

The Standard Bank-China Trade Desk seeks out capable Nigerian exporters of raw materials and completed goods that are in demand in China as part of the ACTS offers. Chinese organizations that want to buy substantial quantities of agro-related products from Nigeria make requests to the Trade desk.

An Africa-China Trade Solutions (ACTS) presentation and a masterclass were both part of the expo, which had the subject “Synergy for Growth.” The ACTS propositions, designed to enable African businesses to explore new markets, increase their customer base, and develop a mutually beneficial relationship between the two countries, is one of the initiatives through which Stanbic IBTC Bank has been redefining trade relations between Nigeria and China.

The agricultural industry in Nigeria offers a wide range of options, he said. The expansion of agricultural export will spur agricultural development if these prospects can be adequately tapped. Overall, agricultural specialists believe that the nation has the ability to provide significant foreign exchange inflows for the country, decreasing trade deficits.

The desk also matches buyers and suppliers with advantageous costs, terms, and circumstances in accordance with established norms between the two nations.

The bank has partnered with Pacific International Lines, a logistics service provider, to carry items sourced from Nigerian exporters and for export to China in response to the rising demand for Nigerian products on store shelves in China for consumption by the Chinese population.

Additionally, when traveling to China and negotiating supplier agreements, language and cultural barriers are a problem for African importers and exporters.

Despite the expansion of trade, the majority of importers in Nigeria still have a number of difficulties that prevent them from placing large orders from a select group of reliable Chinese vendors.

Additionally, when traveling to China and negotiating supplier agreements, language and cultural barriers are a problem for African importers and exporters.