Hosted by two international experts specializing in the Japanese market, namely, Fabien Debaecker and Frederik Delsart, from the PMC consulting firm, based in Tokyo, the meeting aimed to discover new countries open to foreign investment and learn more about various opportunities offered by these markets. For this new school year, Japan was in the spotlight.
“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 which at the same time has a great influence on the Asian market, ”said Debaecker.
For his part, Mr. Delsart 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 GDP. big nations like Russia and South Korea.
Another opportunity to be seized for Moroccan exporters and investors: its GDP was, in 2019, 4.5 billion dollars. Which makes it the 3rd largest economic power in the world, just behind the United States and China. It should also be noted that the regular activity and constant growth of the Japanese market has enabled the country to withstand the Covid-19 crisis. By way of comparison, the Japanese GDP fell only by 4.8% while in France, the decrease 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.
The country’s infrastructure is up to the competitiveness of its economy (4th country in terms of exports with surpluses varying between 20 and 25 billion euros). Japan thus has 24,000 kilometers of railway lines which it makes available to all economic players.
Morocco, 2th Japan’s trade partner in Africa
The two Japanese experts noted, moreover, that 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 in the country. The margin is therefore large for exporters wishing to discover new, promising and profitable markets as long as the land of the rising sun notes a need in Agriculture, Fishing, or even leather, ready-to-wear and cosmetics.
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.
Japan, a very demanding market in terms of quality
Another opportunity for Moroccan exporters is ready-to-wear. 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.
Moroccan leather exporters also have opportunities to seize in Japan, since the country is the world’s 11th largest importer of the material (1.6% of the country’s imports). Japan’s need for cosmetic products is 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 tendency 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.