The variety of Japanese affiliated corporations in Nigeria has doubled within the final 4 years, rising from 21 in 2014 to 42 final 12 months. This exhibits Japan’s sturdy pursuits within the nation’s market.
The Trade Commissioner/Managing Director of Japan External Trade Organisation (JETRO), Mr. Shigeyo Nishizawa, attributed this to Nigeria’s financial restoration, in addition to improve in international investments.
He stated Japanese corporations have, subsequently, taken an enormous benefit of this financial restoration to take a position by increasing their companies in Africa’s greatest market.
Nishizawa spoke at a information convention in Lagos to announce Japan’s readiness to take part within the Lagos International Trade Fair.
He stated 37 Japanese corporations in addition to their brokers and native distributors can be exhibiting on the honest scheduled to carry from November 1 –10.
JETRO is a Japanese governmental organisation that promotes mutual commerce and funding between Japan and the remainder of the world.
It began in Nigeria in 1955 and not too long ago, it’s specializing in selling funding and facilitating commerce from Japan to Nigeria.
Nishizawa stated Japanese merchandise that can function at this 12 months’s honest embrace manufacturers of motorbikes from Honda, Yamaha and motor manufacturers from Mitsubishi, Toyota, Isuzu, Suzuki.
Other merchandise embrace cameras and multifunction printing machine from Canon, Sharp and Brother. There will even be development supplies corresponding to Plascon Paint and Alteco Adhesive, which ensures high quality in housing development.
The Trade Commissioner stated to cater for Japan’s big presence on the honest, JETRO was organising the Japan Pavilion on the Lagos International Trade Fair 2019, in collaboration with the Embassy of Japan.
He famous that this 12 months marks the sixth 12 months of JETRO’s participation on the honest for the reason that organisation began in 2014 with the Japan pavilion, which is among the greatest pavilions on the honest.
Nishizawa added that one of many fascinating moments in Japan Pavilion this 12 months would be the “Made-in-Japan, Made-for Women” Corner.
“JETRO is establishing a particular zone on the Japan Pavilion that includes a set of merchandise for girls in Nigeria. There is a typical slogan in Nigeria that claims: ‘looking good is a good business’.
“This zone will introduce Japanese services serving to to complement ladies’s lives with extra modern and handy objects.
“Series of products like cosmetics, hair wigs, shampoo, sewing machines, headphones, foods and beverages, seasonings, etc., will be exhibiting, including live performance on stage,” he stated.
Trade between Nigeria and Japan has been rising. For occasion, export from Japan to Nigeria final 12 months rose by 2.three per cent, rising to $328 million, from $321 million in 2017.
Similarly, export from Nigeria to Japan final 12 months rose by 17.7 per cent to $922 million, in comparison with $783 million in 2017.
According to Nishizawa, among the merchandise that boosted the commerce valume between each nations embrace autos, which complete export share stood at 20.7 per cent final 12 months; metal merchandise, 16.7 per cent; chemical merchandise, 11.three per cent.
On the opposite hand, Nigeria exported oil and gasoline, which share stood at 77.6 per cent of complete export final 12 months, and non-ferrous metals, 15.four per cent,
The JETRO boss stated the elevated quantity of commerce between each nations and the actions of Japanese corporations in Nigeria are contributing to the nation’s financial development and growth.