Nigeria, Japan trade volume hits $320m
The volume of trade between Nigeria and Japan has hit $320m, information from the Japan External Trade Organisation has revealed.
The Trade Commissioner and Managing Director, Japan External Trade Organisation, Shigeyo Nishizawa, said on Wednesday that Nigeria’s import from his country in 2017 slightly decreased by 1.6 per cent to $320.8m, while export to Japan decreased by 7.5 per cent to $783.1m.
He, however, expressed confidence in Africa’s biggest market.
Nishizawa explained that the trade decline between both countries between 2015 and 2017 was due to decreased natural gas imports, slim harvest of sesame seeds in Nigeria and weak demand for some goods.
He added that JETRO would be setting up the Japan pavilion at the Lagos International Trade Fair 2018, in collaboration with the Embassy of Japan.
According to him, 2018 marks the fifth year of Japan’s participation in the trade fair, describing his country’s pavilion as one of the biggest at the fair, where more than 30 Japanese brands will be showcasing their products and technologies.
“An exciting moment for this year is what we call ‘Made in Japan, Made for Women’ corner. We are setting up a special zone at the Japan pavilion featuring a collection of products and services created by Japanese companies for women in Nigeria,” he added.