At the Nigeria-Israel Business Forum (NIBF) 2024, ShareLovv International’s CEO Tobi Lovv shared some helpful insights on how to successfully conduct business with Israel, forecasting that trade between Nigeria and Israel will grow to billions of dollars in revenue over the coming decades.
ABUJA, NIGERIA. On July 17, the NIBF 2024 unfolded in the heart of Abuja at the Embassy of the State of Israel, shining a spotlight on the theme of trade. The discourse around diversifying Israeli imports and trading partners took centre stage.
Leading the charge was H.E. Ambassador Leo Vinovezky, director of economic affairs with Africa at the Israeli Ministry of Foreign Affairs, who gave the keynote address. He was followed by H.E. Ambassador Gabriel Hayon, president of the Israel Diplomatic Institute who delved into a presentation of how Israel is seeking alternatives to imports from Turkey and how Nigeria could provide many of the products.
A Powerful Talk
A brief Q&A session then preceded Ms. Tobi Lovv’s powerful talk about the opportunities opened up to African exporters, and specifically Nigerian agricultural merchants, by this new trajectory taken by Israel. Ms. Lovv emphasized that Israel’s economic landscape, characterized by limited natural resources, necessitates substantial imports from around the globe. By 2023, Nigeria’s exports to Israel had surged to a remarkable USD$552.79 million. This trade trajectory illustrates the burgeoning potential for deeper bilateral trade relations.
Ms. Lovv identified several Nigerian products with strong export potential to Israel, including onions, tomatoes, garlic, cashews and cashew products, biscuits, sesame seeds, coffee, tea, spices, oil seeds (such as canola, peanuts, soybeans), coconut, and shea tree nuts. These products can meet the demands of Israeli markets, creating valuable opportunities for Nigerian exporters.
Do’s & Don’ts
Towards the end of her presentation Ms. Lovv who is Israeli of Nigerian descent shared some helpful do’s and don’ts of doing business with Israelis. The do’s included tips like embracing a casual and informal business culture, preparing to deal with direct and assertive partners and being results driven.
On the other hand she suggested avoiding bringing up Israeli politics and to remain neutral if it arises and just listen. She also suggested not to beat around the bush as Israeli business people trust you more if you are honest and direct. Business or communicating on a Friday and Saturday is also a no-no due to Sabbath observations. Finally, don’t ignore their texts or WhatsApp messages, and if you don’t have an answer for them, politely decline and assure them you are working on it.
Nigeria-Israel Business Forum 2024’s dialogue encompassed a spectrum of high level speakers, from Israel Ambassador in Nigeria H.E. Michael Freeman to Nigerian Ambassador in Tel-Aviv H.E. Agatha Nonyelum Afoekelu, who both set the agenda of the day in motion with weighty remarks that demonstrated the commitment of both countries to increase trade relations.
ShareLovv Consultancy and Business Facilitation Services
Are you an African business looking to do business with Israeli and other international companies? Book Ms. Tobi Lovv for an enriching one-on-one session dubbed the ShareLovv Level Up Workshop today! An enriching, informative and interactive workshop just for you! That’s right, the will be one on with our very own CEO, Tobi Lovv. In this workshop, you will receive six 1:1 sessions with tailored solutions just for you.
Read more: How To ‘Level Up’ Your Africa-Based Business
Are you an international business looking to enter the African market? Don’t miss out on our ShareLovv Prep4Partnership Workshop where you can book Ms. Tobi Lovv for three 1:1 sessions to learn all the tips and tricks of doing business in Africa while getting access to her business, diplomatic and political contacts from across the continent.
Read more: Building a Strong Foundation for Success in the African Market
This coming Thursday, July 25, 2024, dive into the realm of endless possibilities with our upcoming ShareLovvv Webinar: “Creating, Developing and Cultivating Partnerships With Africa“ hosted by Ms. Tobi Lovv. Register here.
