The government will deploy market analysts to Japan External Trade Organization (JETRO) overseas offices on a mission to study local trends and best-selling items, aiming to discover markets for high-quality products manufactured by small and midsize Japanese companies.
The government hopes to increase the number of dispatched analysts to 100 or 200, covering about 50 locations as early as next spring.
Small and midsize companies often find it difficult to recognize designs and specifications likely to become popular in other countries, even if they want to sell their products there. Some companies are faced with the sole option of giving up on promoting their products overseas because of costly time-consuming visits to target countries for market research.
Currently, JETRO is providing overseas market information to companies that need it. However, the government believes it is necessary for JETRO to take more initiative in helping small and midsize Japanese firms expand their business overseas, and decided to deploy professionals to JETRO's offices dotted all over Asia and the West. The staff will visit local buyers and retailers, and act on behalf of firms to provide operating activities.
Information gathered from activities will be shared with small and midsize Japanese companies online. If interest is generated, companies can then proceed to negotiations with local buyers through JETRO to eventually sell their products.
Imabari towels from Ehime Prefecture and sake from various regions nationwide are among the Japanese products that have already been highly praised overseas. The government hopes to increase the number of such items by strengthening JETRO's role, and plans to include several hundred million in yen within next year's fiscal budget for operating expenses.
Read more from The Japan News at https://japannews.yomiuri.co.jp/
