Why Japan? Opportunities for EU Companies
Japan is an extremely important global economic powerhouse, with a GDP valued at 500 trillion yen in 2012. Japan has 47 prefectures, with many of them producing a regional GDP comparable to the national GDP of many European countries.
With a well-educated and long-living population of 127 million Japanese ‘prosumers’ (professional consumers), this gigantic consumption market remains very often an underexplored market for exporting European companies. In particular, authentic and innovative European products and services, with strong Unique Selling Points (USP), are highly appreciated by Japanese consumers.
Japan and the EU have historically been strong business allies. The value of exported goods in 2012 stood at 55.5 billion euros, while imports from Japan stood at 63.8 billion euros that same year. Japan is also the 3rd biggest Foreign Direct Investor in the EU, valued at 9 billion euros in 2012.
At the beginning of 2013, Japan and the EU officially commenced their Free Trade Agreement (FTA) negotiations, to be concluded by 2018. Once concluded, experts estimate that Europe’s economy as a whole will grow by 0.6-0.8% and is expected to create 420,000 new jobs. European exports to Japan should receive a growth boost of 30% once the agreement is rolled out.
It goes without saying that this framework will create exciting business opportunities for EU companies wishing to export or invest in Japan, matters on which we will elaborate in this webinar. More detailed information is available in various EUJCIC online reports.
This webinar was targeted at EU Small and Medium-Sized Enterprises (SMEs) wishing to enter the Japanese market for new business development and/or SMEs in the process of reviewing their existing business strategy for Japan.
During this 1-hour webinar
Participants have learned about:
- The basic business facts and figures of Japan
- The economy liberalisation policies of the Cabinet of Prime Minister Abe
- Basic insights into the EU-Japan FTA negotiations
- Concrete and practical business hints and tips about opportunistic market segments in Japan
- Expert’s Presentation
- Q&A Session
Speaker: Rob VAN NYLEN, Representative Director/CEO, Akoni KK (IT and Business Consulting for Japan) - VAN NYLEN Rob
Organiser: EU-JAPAN CENTRE for Industrial Cooperation – EU-based Office (Brussels)