The Lagos Chamber of Commerce and Industry (LCCI) and the Japan External Trade Organisation (JETRO), a Japanese government-related body have signed a Memorandum of Understanding (MoU) to promote trade and investment between both countries.
The MoU was signed at the just concluded 2017 Lagos International Trade Fair.
The partnership is expected to cover a wide range of activities for collaboration between both countries such as exchange of information on trade and investment, co-hosting seminars, exhibitions and business delegations, and advocating for enabling business environment.
At the signing ceremony, JETROâ€™s Executive Vice President and Head of Africa, Dr. Katsumi Hirano said: â€œWe notice that the Federal Government of Nigeria aims to achieve a private-sector driven economy under the leadership of President Muhammadu Buhari.â€
He said that the collaboration between JETRO and LCCI, was in line with what the Nigerian government had been pursuing in terms of its bilateral agreement with Japan.
Hirano stated that the MoU would facilitate greater business relationship between the two nations.
â€œAs a major power in Africa, the importance of Nigeria goes without saying. In order to help Japanese companies find the business opportunities in Nigeria, we decided to first participate in the Lagos International Trade fair in 2014,â€ he said.
The trade fair was one of the biggest trade fair in the African region, attracting about 1, 800 domestic and overseas exhibitors as well as 150,000 visitors every year.
On her part, the President, LCCI, Nike Akande, said the promotion of mutual trade and investment between Nigeria and Japan, was needed to ensure the synergy between the two countries is strengthened.
â€œOver the last few years, LCCI has emerged the leading voice of the private sector through a sustained public policy advocacy, stakeholder engagement, trade promotion activities both locally and internationally.
â€œIt is therefore in this regard that both the LCCI and JETRO have deemed it worthy to have a formal agreement of collaboration to enhance trade relation and investment which will add 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,â€ she said.