LAGOS, Nigeria (VOICE OF NAIJA)- The Japan External Trade Organization (JETRO) has shown interest in forming partnerships with Nigerian startups, with a particular focus on the tech industry.
JETRO’s Managing Director and Trade Commissioner, Takeshi Oku, underscored Japan’s dedication to supporting Africa’s largest economy while speaking at the opening of the Lagos International Trade Fair on November 1, as per a statement.
Oku noted that Japanese businesses aim to expand their footprint in Nigeria, acknowledging the country’s key influence within West Africa.
“Nigeria is the gateway to West Africa, so we concentrate on the Nigerian market as part of our commitment to Africa,” Oku noted.
He characterized trade relations between Nigeria and Japan as strong, emphasizing that
“the balance of trade between Nigeria and Japan is very huge.”
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The 10-day trade fair, which kicked off on November 1, has attracted participation from around 41 Japanese companies under the theme, “Connecting Businesses, Creating Value.”
According to the JETRO chief, LITF 2024 marks the ninth consecutive year of Japanese involvement, reflecting a growing interest in the event.
Additionally, Oku announced that JETRO has introduced a new initiative aimed at promoting partnerships between Japanese and Nigerian businesses, stating that “One of our missions is to see that startups in Nigeria and Japan make beneficial collaborations in areas of technology and others.”
He highlighted Japanese investments in Nigeria’s economy, noting that several Japanese brands have a strong foothold in the country, particularly in the automobile, food, and beverage industries.
Oku referenced Ajinomoto, a food seasoning brand with a local factory, as an example.
He further disclosed that a Japanese beverage company is set to launch operations at a new factory in Ogun State, adding that
“Japanese companies are committed to the Nigerian market.”