Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Don’t Overlook Japan’s “Awesome” Buying Power

14 October 2004

Don’t Overlook Japan’s “Awesome” Buying Power – Gibson

The “awesome” buying power of the Japanese consumer “shrieks opportunity” for New Zealand exporters, New Zealand Trade and Enterprise chief executive Tim Gibson said today.

Speaking to the Japan-New Zealand Business Council conference in Queenstown Mr Gibson said that in recent years many in New Zealand had been “bedazzled” by China’s rise from under performer to economic powerhouse.

China is an increasingly important market, however, New Zealanders shouldn’t lose sight of Japan, Mr Gibson said.

“Japan’s so-called troubles over the past decade have been such as most countries would dream of having to endure.

“It’s not just the sheer size of the Japanese economy that shrieks opportunity for New Zealand – although that size is awesome. It is one of the richest and most advanced societies the world has ever seen.”

“We in New Zealand should never forget that Japan remains at the heart of Asia’s prosperity, accounting for more than 60 percent of intra-Asian trade and 70 percent of the region’s GDP,” Mr Gibson said.

He told the conference the Japan-New Zealand trading relationship was characterised by a high degree of complementarity – which he said was not reflected in the present volume of trade.

“Japanese consumers have awesome buying power. They are fastidious. They appreciate, demand and, most importantly, can afford quality.

“New Zealand, most obviously in the area a foodstuffs but increasingly in respect of a raft of other products, is able to supply such products,” Mr Gibson said.

And he said that while “in the meantime” a full free trade agreement between New Zealand and Japan was out of reach, Japan’s world view, as it applied to trading relationships, was undergoing a “dynamic metamorphosis.”

“There is new thinking and there are new possibilities opening up.”

Mr Gibson said New Zealand’s participation in next year’s world exposition at Aichi and the associated leveraging project designed to exploit participation in the event, reflected a “new level of engagement” with Japan.

“Progress in the WTA Doha Round will oblige Japan to open its markets further. Meantime, there are many opportunities available under the existing tariff regime,” Mr Gibson said.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news