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ECONOMY > Trade

Gov’t to focus on popular wagyu, fish to promote food exports

  • October 21, 2020
  • , Yomiuri , p. 1
  • JMH Translation

The basic outline of the government’s measures to promote exports of agriculture, forestry, fisheries, and food products to be compiled by the year’s end was revealed. The outline focuses on intensively supporting items for which there is strong demand overseas by regarding them as “promising items.” The government wants to achieve its goal of more than quintupling the current export value to five trillion yen in 2030 by putting emphasis on the plan over the next decade.  

 

In the outline, the government aims to increase the country’s overall exports by generously investing in “promising items,” for which Japan can leverage its strengths. Specifically, the government plans to designate items that are very popular abroad such as wagyu beef, apples, and yellowtail for sushi. In France, major items such as wine and cheese account for a large share of export value, making it necessary for Japan to develop an export strategy that takes advantage of its unique characteristics.

 

Also, Japanese producers who want to export their products are facing the following challenges that they do not experience when shipping them domestically: (a) regulations and standards on agrichemicals and hygiene control that vary from country to country and region to region, and (b) differences in languages and business practices. The planned measures will include the government’s support for the areas producing items that can meet the regulations and standards imposed by export destinations. The government will also support trading houses that mediate between producers and foreign buyers, and consider extending the credit line of the Norinchukin Bank. (Abridged)

 

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