INTERNATIONAL TRADE


TRAINING & EVENTS MARCH/APRIL


International Trade Operations and Procedures (ITOPS) Venue: Chesterfield Date:


day course) Time:


Export documentation Venue: Nottingham Date: Time:


22 March 9am-4.30pm


Letters of credit Venue: Chesterfield Date: Time:


3 April 9.30am-4.30pm


Export foundations Venue: Nottingham Date: Time:


5 April 9.30am-4.30pm


Understanding commodity coding Venue: Chesterfield Date: Time:


11 April 9.15am-12.30pm


Rules of origin and international trade preferences (NEW)


Starts 6 March (four- 9am-4.30pm


SPOTLIGHT ON: JAPAN


Venue: Chesterfield Date: Time:


11 April 1.15pm-4.30pm


Authorised economic operator (AEO) – Impact on exporters Venue: Leicester Date: Time:


11 April 9.30am-4.30pm


For further information and to book on the above courses and all Chamber International courses across the region, visit bit.ly/EMCInternational


Japan is the world’s third largest economy - bigger than the UK and Germany combined. In 2014 it made up six per cent of world Gross Domestic Product (GDP). Japan is one of the world’s largest exporters, one of the largest overseas investors and remains the high-tech powerhouse economy of Asia. Despite economic issues over the


past 20 years, the Japanese market continues to thrive, making it an attractive prospect to UK businesses. The Japanese government has


worked hard to combat recent low levels of foreign direct investment by implementing economic reforms and policy initiatives to promote growth and entice foreign investors. There is an increasingly globalised outlook and strong intellectual property (IP) protection, making this market one of the most stable to set up a business. Japan’s consumer base is large,


highly educated and hungry for the latest technologies, products and services. The country enjoys a huge open economy with high levels of disposable income.


34 business network February 2018


‘Financial services are the UK’s largest export of services to Japan, valued at £2.6bn in 2013. Transportation and insurance are also significant’


If looking at Japan as a potential


market to do business, a strategic rather than an opportunistic approach is recommended. Quick success is possible, but companies are more likely to get long-term benefits by being patient. In Japan, relationships are extremely important. Be prepared to make a long-term commitment and visit the market regularly to maintain and develop relationships. Japanese remains the official language of business, yet there has been a rise in the number of English-speaking employees and growth in accessible ecommerce platforms offer easy access to foreign companies. In 2012 UK exports to Japan


were worth over £9.4bn, almost evenly split between goods and services. Machinery and mechanical appliances, boilers, nuclear reactors, power generation


equipment and vehicles, also chemicals, including medical and pharmaceutical products, all together account for about £2.5bn. Financial services are the UK’s


largest export of services to Japan, valued at £2.6bn in 2013. Transportation and insurance are also significant, with a combined value of £800m. Other business services include legal, accounting, advertising and R&D. Japan is the second largest


market for the UK in royalty and licensing income, accounting for ten per cent of all earnings of this type. There are multiple opportunities


for Midlands-based businesses in Japan. There is increasing focus on securing sustainable energy sources, in particular low carbon and Smart technologies. Other developing sectors are education and training, human resources and finance.


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