China and Nigeria on March 30 vowed to identify new areas of economic cooperation and lay out a blueprint for bilateral relations under new circumstances.

Speaking at the 2016 China-Nigeria Trade and Economic Forum in Abuja, the Nigerian capital, representatives of the two countries said efforts will be made to develop modalities to enhance bilateral relations under the new cooperation plan.

Chinese Ambassador to Nigeria Gu Xiaojie noted that the forum was an opportunity for business people from both countries to identify new areas of cooperation.

“Based on what we have achieved in the past couple of years, both countries will identify new areas like infrastructure, investment, as well as agriculture and mining,” Gu said.

“And this is also because we have taken note of the diversification efforts in this country, and now that the country is facing new challenges amid the declining oil prices, we appreciate the effort by Nigeria to diversify its economy,” he added.

Nigeria’s Minister of State for Industry, Trade and Investment Aisha Abubakar said the West African country will continue to work closely with China to enhance trade and economic cooperation.

According to her, a forum of this nature will further create an opportunity for stakeholders from both countries to expand business links to deepen relations, which will facilitate sustainable development in the two countries.

“This will lead to rapid and sustainable development, wealth generation and reduction in poverty in both countries through the diversification of our trade relations,” she said.