JICA experts urge businessmen to tap Japanese market

Officials say both countries have potential to enhance cooperation between their SME sectors

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) in collaboration with the Japan International Cooperation Agency (JICA) organised a seminar on ‘Business Guide for Trade with Japan’ to create awareness in the business community about how to promote trade and exports with Japan.

Giving a detailed presentation on the occasion, JICA expert and advisor to Trade Development Authority of Pakistan Masao Otsuka, said that Japan was a strong market of 125 million people with a gross domestic product of $4.66 trillion and Pakistan has a good opportunity to tap this market for trade and exports.

He said that 97% of business entities in Japan were from the small and medium size enterprise (SME) sector and both countries have a good potential to enhance cooperation between their SMEs for mutual benefit.

Otsuka highlighted five important points to promote trade with Japan and stressed that businessmen should first establish Japanese contacts in local network and then in Japan. “Tailoring products to meet the Japanese requirements and specifications is vital to penetrate Japanese market.”

The first meeting with Japanese buyers was a step towards building a relationship and Japanese firms are not likely to make quick decisions, he added.

He said that products must be delivered as promised, on time and in accordance with specifications adding that late delivery, improper packing, missed specifications and delayed response would hurt business relations with Japan.

Also speaking at the occasion, ICCI President Khalid Iqbal Malik said that Pakistan and Japan have great potential to enhance cooperation in multiple fields, but the bilateral trade volume of around $2 billion was not reflective of the true potential of both countries. He stressed that Pakistan and Japan should encourage frequent exchange of trade delegations and holding single country exhibitions on reciprocal basis to explore all untapped areas of mutual cooperation.

He expressed hope that the seminar would create better awareness in the business community for promoting trade with Japan and thanked JICA experts for organizing the event.

Published in The Express Tribune, December 25^th, 2016.

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