JETRO, LCCI sign MoU to foster trade relation

JETRO, LCCI sign MoU to foster trade relation

ON November 11, 2017 8:55 AM / IN Business,
News / BY Ugoh Solomon Chinonso
Stories by Moses Nosike
Japan External Trade Organization (JETRO), a Japanese government-relted body that promotes trade and investment between Japan and other nations, and Lagos Chamber of Commerce and Industry (LCCI) have concluded their Memorandum of Understanding (MoU) on further partnership to promote trade and investment between the two countries.
The signing ceremony was held on Tuesday at Tafawa Balewa Square during the Lagos International Trade Fair 2017. The MoU covers wide range of activities for collaboration such as exchanging information on trade and investment, co-hosting seminars, exhibitions and business delegations, and advocating for enabling business environment.
At the ceremony, JETRO’s Executive Vice President and Head of Africa, Dr. Katsumi Hirano, said “We notice that Federal Government of Nigeria aims at achieving a private-sector-driven economy under the leadership of President Buhari. The collaboration between JETRO and LCCI is on the same track of what the Nigerian government has been pursuing” The MoU aims to bring such a new economy by facilitating greater business relationship between the two nations. Japan is interested
in where Nigerian economy goes as well as the role of LCCI in the Nigerian economy driven by private sector,” Hirano stressed.
As one of the collaborations, JETRO has been organizing Japan Pavilion at Lagos International Trade Fair since 2014. This year, within one of the biggest pavilions at the fair, Japanese firms and their Nigerian distributors have brought in a total of 33 Japanese brands to attract Nigerians. The pavilion, which is open until November 12, already receiving vast visitors.
Speaking during the signing ceremony in Lagos on Wednesday, President, LCCI, Nike Akande, said that the promotion of mutual trade and investment between Nigeria and Japan is needed to ensure the synergy between the two countries is strengthened.
According to her, “Over 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. It is therefore in this regard that both LCCI and JETRO have deemed it worthy to have a formal agreement of collaboration so as 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”, she said.
Akande thereafter reiterated that LCCI will 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.