As part of its Doing Business webinars, the Moroccan Association of Exporters (ASMEX) has just organized a webinar entitled “ Doing Business in Japan », In partnership with Harvard Consulting.
The meeting, held on September 21, 2021, marks the resumption of the webinar cycle ” Doing Business »Initiated by ASMEX. An opportunity for the members of the Association to discover new countries open to foreign investment and to learn more about the various opportunities offered by these markets.
For this fall, Japan is in the spotlight with the intervention of two international experts specializing in the Japanese market, namely, MM. Fabien Debaecker and Frederik Delsart, of the PMC consultancy firm, based in Tokyo.
” Japan is the third largest economy in the world. It is a very interesting market for those who take the trouble to access it because it is a very demanding market and difficult to access. But very important for exporters given its local and international dimension. It is a growing market and at the same time has a great influence on the Asian market », Began by specifying Mr. Debaecker, quoted in the press release of ASMEX which then underlined the requirements of the Japanese market, however very attractive by its openness and its constant growth.
For his part, Mr. Delsart, also quoted by ASMEX, argued the advantages of Japan and its market by raising an unemployment rate that does not exceed 2.3% while the GDP of some cities like Tokyo and Nagoya are equivalent to the GDPs of large nations like Russia and South Korea.
In 2019, Japan’s GDP was $ 4.5 billion, making the country the world’s 3rd largest economic power just behind the United States and China. In addition, the regular activity and constant growth of the Japanese market has enabled the country to resist the Covid-19 crisis. By comparison, Japanese GDP fell only 4.8% while in France, the decline was estimated at -8.3%. For experts, it is clear that a market that survives the recent health crisis is a reliable market, as long as the Japanese have high purchasing power thanks to their average salary of $ 3,000. ASMEX.
The country’s infrastructure is up to the competitiveness of its economy (4th country in terms of exports with surpluses that vary between 20 and 25 billion euros) raises the same source, noting that Japan thus has 24,000 kilometers of railways that it puts at the service of all economic players.
During their intervention, the specialists who hosted the webinar highlighted the advantages of the Japanese market, which they describe as a profitable market with a good return on investment, but also a market ” trendsetter for the rest of the Asian markets “.
Indeed, Japan is Morocco’s 18th client in terms of exports with around $ 299 million, according to figures from the Moroccan Embassy in Japan. Seen from Japan, this figure makes Morocco the 26th supplier of the country, advances the association of exporters, which estimates that the margin is therefore enormous for exporters wishing to discover new, promising and profitable markets as long as the country of the rising sun notes a need in Agriculture, Fishing, or leather, ready-to-wear and cosmetics.
Moreover, Morocco is Japan’s second largest trading partner in Africa. Trade relations between Morocco and Japan represent 4.5% of trade between Morocco and Asia and 2.7% of trade between Japan and Africa.
In terms of agriculture, Japan’s self-sufficiency is limited (40%) since only 12% of the territory is devoted to agriculture. Ready-to-wear is also a boon for Moroccan exporters. In 2015, the Japanese market amounted to 49.55 billion euros. According to the Yano Research Institute, the market for products of foreign brands of clothing and accessories reached 8.5 billion euros in 2013. The market for internet sales of clothing is prosperous, growing rapidly and exhibiting numerous opportunities indicates ASMEX.
According to the same source, Moroccan leather exporters also have opportunities to seize in Japan, since the country is the 11th world importer of the material (1.6% of the country’s imports), noting that Japan’s need in terms of cosmetic products are characterized by the large consumption of the Japanese (3rd world market, 19.4 billion dollars). Currently, France is the country’s leading supplier (35% of imports) with a trend towards organic products. Here again, the potential is significant for Moroccan exporters.
However, Japan remains a very demanding market in terms of quality. ” Some economic players have seen their goods make the return trip because of a packaging problem such as a scratch or a small scratch, although their product is of very high quality. »Noted Frederik Delsart, who reminds us that Morocco remains Japan’s second largest trading partner in Africa.