Japan’s investments in Nigeria have increased by 100% in four years as affiliated companies rose from 21 in 2014 to 42 in 2018. This is quite significant and demonstrates their interest in the Nigerian market.
The Details: Shigeyo Nishizawa, the Trade Commissioner of the Japan External Trade Organisation (JETRO) explained that the growing interest in Nigeria is likened to economic recovery and increase in foreign investments.
To this end, Nishizawa disclosed Japan’s readiness to participate in the Lagos International Trade Fair scheduled for November 1–10. He noted that 37 Japanese firms, as well as their agents and local distributors, are expected to participate at the Fair.
He said that Japanese products to be featured at the fair will range from automobiles and motorbikes to cameras and multifunction printing machine, as well as construction materials. He added that JETRO was planning to hold the sixth edition of the Japan Pavilion at the Lagos International Trade Fair 2019, in collaboration with the Embassy of Japan which is meant to be the biggest pavilions at the event.
The Japan Trade Minister noted that a major side attraction for the fair would include a “Made-in-Japan, Made-for Women” Corner specially designed to attract women.
Nishizawa said, “JETRO is setting up a special zone at the Japan Pavilion featuring a collection of products for women in Nigeria. There is a common slogan in Nigeria that says: ‘looking good is a good business. This zone will introduce Japanese products and services helping to enrich women’s lives with more fashionable and convenient items.
“Series of products like cosmetics, hair wigs, shampoo, sewing machines, headphones, foods and beverages, seasonings, etc., will be exhibiting, including live performance on stage.”
What you should know: JETRO is a Japanese governmental organisation that promotes mutual trade and investment between Japan and the rest of the world.
It started in Nigeria in 1955 and recently, it is focusing on promoting investment and facilitating trade from Japan to Nigeria.