On December 29, 2021, Ausmate Group signed a strategic cooperation agreement with Pakrin Investments Ltd of Nigeria to establish a branch of Ausmate Group in Nigeria. This cooperation includes international business resource matching and monetization projects, commodity and agriculture related trade, cultural and tourism related projects and various forms of investment projects. Both parties will jointly participate in the Nigeria Trade Project Cooperation Alliance, jointly develop business in the international and Chinese markets and assist each other in expanding import and export business in the international market. Based on the sharing of business information and opportunities, we will work with the Nigeria government to develop the local market for mutual benefit.
Sino-African business cooperation has a long history. The Department of Commerce of Hunan Province, China, organized the "China-Nigeria Bilateral Trade Chain Model Promotion Conference" in Changsha on March 18, 2021. PAKRIN INVESTMENTS LTD was registered in Abuja, Nigeria on June 5, 2012. This cooperation will further strengthen the credit mechanism between Chinese and African enterprises, reduce logistics costs and time, mitigate trade settlement risks, and create greater profit margins for import and export trade between Chinese and African enterprises.