Trade fair to aid opportunities for JVs, franchise agreements, says LCCI
Over 500,000 visitors, exhibitors expected
Undeterred by the prevailing economic challenges in the country, the Lagos Chamber of Commerce and Industry (LCCI) has stated that this year’s edition of the Lagos International Trade Fair (LITF) would increase opportunities for Nigerian businesses to explore joint ventures and franchise agreements with international exhibitors.
According to the chamber, the fair will not only promote trade, but also aid inflow of investments in the country through partnerships among exhibitors.
Speaking during a courtesy visit to The Guardian, yesterday, the chamber’s Vice-President and Chairman, Trade Promotion Board, Sola Oyetayo, said the chamber will be celebrating the 30th year anniversary since it took over the organisation of the fair from the federal government, adding that scheduled events will aid growth of investments in the economy.
Indeed, Oyetayo stated that the chamber will be presenting a platform for businesses to exhibit their potential to the international community as well as improving engagements with the creative industry through a creative fair.
Themed, “Positioning the Nigerian economy for diversification and sustainable growth”, the chamber emphasised the need to make the country a better business destination, especially Lagos State by consolidating on the achievements of the past and continuously providing value to stakeholders.
“It has been 30 years that we have been hosting the trade fair. This year, we are looking at a new dimension to the event. We will hold the general fair at the Tafawa Balewa Square when it commences on November 4, 2016, while a business-to-business exhibition will hold at the Eko hotel between October 6 to 10.
“Similarly, there will be an investors’ conference schedules for November 7-8, while the chamber for the first time, will be organising an essay competition for secondary school students in Lagos. Already, exhibitors from China and Japan have indicated interests in participating in the fair while others from the European Union, United States and neighbouring African countries have also showed interest in the fair.
“The chamber is also working with the Nigerian High Commission to facilitate ease of passage for exhibitors, while security and logistics concerns have been addressed for crisis-free event”.
On the issue of prevalence of sub-standard goods in the country, Oyetayo explained that China should not be blamed as most goods are being produced to the specification of the owners or host countries, adding that Nigerian importers and businessmen need to request for high quality products.
He however noted that the LCCI is optimistic that the Lagos International Trade Fair Complex may soon be handed over to the chamber once legal issues are addressed.