KUCHING: In 2017 (Jan – Nov), Japan was Malaysia’s fourth largest trading partner with volumns valued at RM126.67 billion, says Assistant Minister of E-Commerce and Entrepreneur and Small, Medium Enterprise (SME) Development, Datuk Mohd Naroden Majais.
He added that Japan was Malaysia’s fourth largest export destination valued at RM68.48 billion and fourth largest source of imports at RM58.19 billion.
“The major export products to Japan included LNG, electrical and electronic products, chemicals and chemical products, wood products as well as optical and scientific equipment.
“Major imports from Japan were electrical and electronic products, machinery, appliances and parts, transport equipment, chemicals and chemical products as well as iron and steel products,” he said during the opening ceremony of ‘Business Opportunities on Halal Industry in Japan’ seminar at Pullman Hotel here yesterday.
Naroden also disclosed that in the same period, the state’s total export to Japan amounted to RM24.79 billion whereas the imports totalled RM1.74 billion.
“The major export products to Japan from Sarawak were LNG, wood products, iron and steel products, manufacture of metals and wood products.
“Meanwhile, major imports from Japan were electrical and electronic products, machinery equipment and parts, and chemical and chemicals products.
“For your information, some of our local SMEs have penetrated Japanese markets for years now through the export of frozen seafood, coconut nectar sugar as well as building materials and timber products,” he pointed out.
Japanese buyers are drawn to premium, high-end goods and services.
“Japan has made a name for itself as a nation of quality and innovation and has staked its future on this value proposition. Along with this comes a strong commitment and loyalty to business partners, once acquired,” he added.
The assistant minister revealed that Japan has been busy preparing itself to host the 2020 Olympics in Tokyo.
“Japan has focused on boosting tourism figures where more than 20 million tourists are expected to land in Japan during the world’s biggest sporting event and over one million of them may be Muslims.
“Tokyo-based Japan Muslim Association (JMA) estimated that the Muslim population in Japan is about 150,000 people, of which 10 per cent is made up of Japanese,” he said.
Other than the demand for technology and logistics in Japan, the Halal food sector is also highly demanded in the country.
“This international event brings ample business opportunities. I hope that Malaysian companies will capitalise on this golden opportunity to export as well as venture into new businesses in Tokyo, especially in the Halal food industry,” stressed Naroden.
