Tuesday 18 December 2018

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

The Japan External Trade Organization (JETRO) has expressed that increasingly Japanese speculators have reported plans to build their cooperation at the Lagos International Trade Fair (LITF) booked to hold one month from now, as a feature 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 of every 2017 in spite of the subsidence. 

"This demonstrates nothing has changed as respects the colossal capability of Nigeria and how emphatically Japanese organizations are anxious to take advantage of this rewarding business sector," he said. 

Nishizawa amid a press instructions in Lagos, yesterday, anyway expressed that Nigeria's import from Japan in 2017 somewhat 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 collect of sesame seeds in Nigeria and powerless interest for a few products. 

He said in spite of the monetary subsidence and the decrease of 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 has faith in the Nigerian economy and would take gigantic preferred standpoint by extending its organizations in the greatest African market. 

He included that JETRO will sort out the Japan structure at the Lagos International Trade Fair 2018 in a joint effort with Embassy of Japan. 

As per 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 advances to Nigerian business authorities and natives speaking to the quality and dependability of Japan for the 10 days occasion. 

"An energizing minute during the current year is incorporating which draws likewise the consideration of wonderful ladies we called "Made in Japan, Made for Women" corner. We are setting up an extraordinary 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 in vogue and helpful things.

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