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Japanese group lauds Nigeria’s economy at trade fair


LAGOS – The Japanese External Trade Association has described Nigeria’s economy as one of the fastest growing economies in the world.

Mr George Sato, the association’s Trade Commissioner, made the remark in an interview at with the News Agency of Nigeria (NAN) at the ongoing 28th Lagos International Trade Fair.

The fair is taking place at the Tafawa Balewa Square on Lagos Island.

The 10-day fair began on Friday.

“In spite of the security issues in Nigeria, its economy is growing.

“It is one of the emerging markets in the world, and we are proud to associate with it,” he said.

Sato said that the association came with 30 Japanese companies to the fair to explore the numerous business opportunities in Nigeria.

According to him, the contingent is interested in fostering trade partnerships with their Nigeria counterparts.

Sato noted that Japanese had enjoyed mutually beneficial business relationships with Nigerians.

“Japanese entrepreneurs have been doing business in Nigeria for about 60 years.

“Nigerians are familiar with popular brands like Toyota and Sony but we have other firms that manufacture durable goods in Japan.

“We had come to this year’s trade fair to showcase our brands and hopefully develop markets for our products,” he told NAN.

He said that more Japanese entrepreneurs were interested in investing in Nigeria as it had become one of the largest business destinations in the world.

Mr Noraki Saito, International Trade Executive, Juki Corporation, Japan, told NAN that Japanese firms manufactured products to create value for end users.

“We manufacture industrial sewing machines; we are here to exhibit them to create a wider reach of our products in the Nigerian market.

“Japanese products are durable, user-friendly and affordable,” he said.

NAN reports that products ranging from household products, educational materials, electrical appliances, automobile, agro-allied products and security equipment were displayed at the pavilion of the Japanese.(NAN)

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