Nigeria: Japan to Leverage LITF for Improved Trade Ties With Nigeria

The Japan External Trade Organization (JETRO) has expressed that progressively Japanese financial specialists have reported plans to expand their cooperation at the Lagos International Trade Fair (LITF) planned to hold one month from now, as a major aspect of moves to enhance exchange relations with Nigeria. 


The Trade Commissioner and Managing Director, JETRO, Shigeyo Nishizawa, clarified that the move was an impression of the conviction and responsibility Japanese organizations have in Africa's greatest market. 

The Trade Commissioner said the quantity of the Japanese partnered organizations in Nigeria expanded by four of every 2016 and by one out of 2017 regardless of the retreat. 

"This demonstrates nothing has changed as respects the colossal capability of Nigeria and how unequivocally Japanese organizations are anxious to take advantage of this worthwhile market," he said. 

Nishizawa amid a press preparation in Lagos, yesterday, anyway expressed that Nigeria's import from Japan in 2017 marginally diminished by 1.6 percent to USD 320.8 million while fare to Japan diminished by 7.5 percent to USD 783.1 million. 

He clarified that the exchange decay between the two nations from 2015 to 2017 was because of diminished gaseous petrol import, thin reap of sesame seeds in Nigeria and frail interest for a few products. 

He said regardless of the monetary subsidence and the decrease in the volume of exchange between the two nations, the quantity of Japanese organizations with solid enthusiasm for Nigerian market has expanded. 

He called attention to that in 2016, Nigeria crashed into a subsidence that recorded low remote speculations, saying that Japanese organizations still puts stock in the Nigerian economy and would take enormous preferred standpoint by growing its organizations in the greatest African market. 

He included that JETRO will compose the Japan structure at the Lagos International Trade Fair 2018 as a team with Embassy of Japan. 

As indicated by him, 2018 imprints the fifth year of investment, including that the structure is one of the greatest at the reasonable. 

He clarified that in excess of 30 Japanese brands will be exhibiting their items and innovations to Nigerian business authorities and nationals speaking to the quality and dependability of Japan for the 10 days occasion. 

"An energizing minute during the current year is including which draws likewise the consideration of lovely ladies we called "Made in Japan, Made for Women" corner. We are setting up a unique zone at the Japan structure highlighting a gathering of items and administrations made by Japanese organizations for ladies in Nigeria," he included. 

He expressed that the zone will present Japanese items and administrations improving ladies' lives with progressively chic and advantageous things.