Japanese traders mull imports hike

Japanese traders mull imports hike | Daily Tribune

Japan’s diversified retail holding company, AEON Retail Co. Ltd., is planning to increase importations of agricultural products from the Philippines, the Department of Trade and Industry said on Monday.

Trade and Industry Acting Secretary Cristina Roque met with executives from AEON last 12 September to discuss the expansion of Philippine product sourcing and potential investments.

Roque encouraged AEON to consider further investments, building upon their trade relationships with local suppliers.

AEON has also expressed interest in diversifying its import portfolio to include a wider range of food and non-food products from the Philippines.

Additionally, AEON is particularly keen on sourcing “Tatak Pinoy” and OTOP-compliant products to feature in their retail stores, demonstrating their commitment to promoting authentic Filipino craftsmanship and supporting local industries.

Roque maintained that the DTI is committed to facilitating AEON’s sourcing activities and ensuring that Philippine products meet the high-quality import standards of Japan.

Both parties also discussed potential collaboration in trade shows and exhibitions, further strengthening the trade ties between the two nations.

Japan craves tropical fruits

AEON is importing primarily agricultural products, especially bananas and pineapples, for sale in their domestic retail stores in Japan.

The DTI said AEON has seen a 125 percent increase in sales of PH products between 2019 and 2023.

Further, AEON plans to increase the import volume of agricultural products from the Philippines, such as bananas, aiming to strengthen the supply with a focus on greater stability and a commitment to high-altitude cultivation.

“AEON is eager to discover various popular products in the Philippines and introduce them to Japanese customers. They would appreciate opportunities to be introduced to producers of processed products, alcoholic beverages, and others beyond agricultural products through the Philippine government,” according to DTI in a statement.

The secretary has informed AEON that the department can assist in introducing them to Filipino MSME suppliers/exporters.

“While the representatives present during the meeting were from AEON’s Food Merchandising Division, the AEON Group covers all sectors. AEON will check with their other business segments for specific sectors they are interested in and will provide feedback to PTIC Tokyo. AEON also holds special events in their shopping malls and retail spaces. PTIC Tokyo has noted that the Department can work with AEON in holding promotional events for Filipino products,” the DTI said.