Over 50,000 visitors visited the Japan pavilion at the just concluded International Trade Fair in Lagos, the Managing Director and Trade Commissioner, Japan External Trade Organisation (JETRO), Takashi Oku has disclosed.
He also stated that the number of Japanese companies at this year’s fair almost doubled from 19 in 2022 to 33 in 2023.
This is just as the Japanese government reaffirmed its commitment to boost its existing trade relations with Nigeria.
Speaking at the closing of Japan Pavilion, the Trade Commissioner acknowledged that the trade volume between both countries is low, maintaining that plans are ongoing to increase the volume of trade.
According to him, Nigeria and Japan have continued to enjoy smooth bilateral trade relationships, calling on the Nigerian government to address issues of foreign exchange and high inflation rate to attract more Foreign and Direct Investments (FDIs) into the country.
“Foreign companies and Nigerian companies are struggling to get foreign currencies. Investors need to be guaranteed easy access to forex as this would help Nigeria’s economy grow, while also encouraging foreign direct investments,” he said.
On the patronage, he said, “The turnout of Japan participants at the fair has been a gradual recovery since COVID-19 and this year, participants at this year’s fair are almost double of what we had last year and this for us is an achievement.
“We will try to introduce more Japanese products and services to Nigerian people and we also have some companies in collaboration with Nigerian companies.”
Also speaking, the Japanese Ambassador to Nigeria, Matsunaga Kazuyoshi, said Nigeria has an enormous economy, population, natural resources, growing human resources and rich culture, adding that the international community is now paying close attention to the potential of Nigeria more than ever.