• Wednesday, May 29, 2024
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JETRO, LCCI partner to boost trade relations

JETRO reveals success at Lagos fair, promises to introduce African market to Japanese companies

Japan External Trade Organisation (JETRO), a Japanese government-related body that promotes trade and investment between Japan and other nations, and Lagos Chamber of Commerce and Industry (LCCI) have signed a memorandum of understanding (MoU) to promote trade and investment between Nigeria and Japan.

The signing ceremony was held at Tafawa Balewa Square during the just concluded Lagos International Trade Fair 2017.

The MoU covers collaboration and exchange of information on trade and investment, co-hosting seminars, exhibitions and business delegations, and advocating for enabling business environment.

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At the ceremony, JETRO’s executive vice president and head of Africa, Katsumi Hirano, said, “We noticed that the Federal Government of Nigeria wants to achieve a private-sector-driven economy under the leadership of President Muhammadu Buhari.

“The collaboration between JETRO and LCCI is on the same track with what the Nigerian government has been pursuing.

“The MoU aims to bring such a new economy by facilitating the greater business relationship between the two nations. Japan is interested in where the Nigerian economy goes as well as the role of LCCI in the Nigerian economy, driven by the private sector.”

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According to Hirano, the MoU will facilitate the greater business relationship between the two nations, “with encouragement by the Japanese government including through the Tokyo International Conference on African Development (TICAD), Japanese companies are giving more focus on business in Africa, particularly Nigeria, than ever before.”

As one of the collaborations, JETRO has organised Japan Pavilion at the Lagos International Trade Fair since 2014. This year, one of the biggest pavilions at the fair was set up by Japanese firms and their Nigerian distributors brought in a total of 33 Japanese brands to Nigerians already receiving vast visitors.

Speaking during the signing ceremony, Nike Akande, President, LCCI, said the promotion of mutual trade and investment between Nigeria and Japan was needed to ensure the synergy between the two countries was strengthened.

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To her, “Over the last few years, LCCI has emerged the leading voice of the private sector through sustained public policy advocacy, stakeholder engagement, trade promotion activities both locally and internationally.

It is therefore in this regard that both LCCI and JETRO have deemed it worthy to have a formal agreement of collaboration to enhance trade relation and investment, which will add an economic guide to both countries. I believe that this collaboration will further strengthen the synergy between the two organisations as well as Nigeria and Japan.”

Akande thereafter reiterated that LCCI would continue to promote and protect the interest of its members and the business community at large through trade policy advocacy, creation and facilitation of commercial and industrial opportunities, provision of business services and standard business ethics.

David Ibemere