Welsh target Tokyo for exports and investment
“ There has been significant investment from Japan into Wales , with the first such investment back in 1972 ”.
LEAD STORY
Driving the New Dragon Economy
Welsh target Tokyo for exports and investment
By Julian Ryall
• Pharma , biotech , telecoms , jewellery , food
• Warm welcome , near key markets , value
• Brands feature history , heritage , quality
Japanese corporations hold Welsh engineering and technological prowess in high esteem , while consumers in Japan are keen on the high-end , niche products that are increasingly emerging from Welsh firms .
And , judging from the consumption of Welsh ales and ciders at the 12 June British Embassy Tokyo reception , the Japanese have a soft spot for Welsh exports that come in kegs and bottles .
The reception was held at the official residence of British Ambassador Tim Hitchens to mark a visit to Japan both by Edwina Hart , the Welsh government ’ s minister for Business , Enterprise , Technology & Science , and the Wales national rugby union team .
“ There has been significant investment from Japan into Wales , with the first such investment back in 1972 ”, said Ambassador Hitchens . “ And many of those early entrants are present there to this day ”.
According to the ambassador , the three key attractions that draw Japanese to do business in Wales are the very warm Welsh welcome , the easy access to significant markets in the rest of the UK and in Europe , as well as the affordability of investing in Wales compared with other parts of the UK .
Standing beside the Welsh flag , Hart echoed the sentiments and underlined the importance of the “ enduring and excellent relationship that has developed ” between Japan and Wales . Hart and the rest of the Welsh government team were also keen to promote the eight firms that were taking part in the eight-day trade mission .
“ Our aims can be summed up as [ acquiring ] more exports and more exporters ”, Paul James , manager of International Trade Programmes and
“ There has been significant investment from Japan into Wales , with the first such investment back in 1972 ”.
Contracts for the Welsh government , told BCCJ ACUMEN .
“ There seems to be so much talk now about China and opportunities that might exist there , but we ’ re actually really trying to target Japan at the moment ”, said James , who is on his third trade mission to Japan .
“ We see this as a market with fantastic opportunities because there are more than 120mn people [ in Japan ], who are largely affluent and generally have pretty sophisticated tastes . The companies here like our technology and there is a business structure in place that is similar to what we have in the UK ”, he explained .
“ The last point is important because our companies can rest assured that deals and payments are going to be secure , while there is also protection of intellectual property rights in this country ”.
Several of the firms that took part in the mission have experience in exporting to overseas markets in Europe or North America . Having got the hang of relatively straightforward markets that are closer to home , they are looking to stretch their wings in a more distant environment .
For the firms making their first foray into Japan , James ’ team had arranged a series of introductory meetings with potential distributors or clients in their sectors . However , for the firms with some
16 | BCCJ ACUMEN | JULY 2013