2024-03-13 05:16:47
The Japanese Foreign Ministry plans to introduce a position in embassies abroad responsible for developing business relations and providing assistance to Japanese companies trying to enter foreign markets. The head of the department, Yoko Kamikawa, stated this while addressing the Federation of Japanese Business (Keidanren), Day.Az reports with reference to TASS.
“The global economy is experiencing a geopolitical correction, which is opening up new business opportunities for Japanese companies,” the Nikkei newspaper quoted her as saying. “Geopolitical competition is at the forefront of the global economy, and we can no longer view national security and economics in isolation,” she added.
Kamikawa, in this regard, noted the need for closer coordination to help Japanese companies go international. To promote economic foreign policy, the head of the Japanese Foreign Ministry proposes not only to create conditions for business, but also to promote participation from developing countries representing the so-called global South.
“When strengthening ties with the global South, we must take into account the various factors that affect each region and each country, as well as the historical context,” Kamikawa said. The importance of emerging markets for Japanese companies is due, among other things, to the shrinking market in Japan, Nikkei notes.
The Foreign Ministry also surveyed the business community about what support it needs. As noted, companies are showing interest in decarbonization, digital transformation and ensuring economic security. In addition, businesses are asking for government support to enforce intellectual rights related to semiconductors and other advanced technologies, and to help improve the business environment in developing countries.