Tuesday, 25 August 2009
A new report to assist New Zealand businesses with key advice on how to do business in Japan is now available from the Asia New Zealand Foundation.
The report Next Stop Japan: A Guide to Doing Business in Japan explores the factors that ensure success in building business relationships in New Zealand’s fourth largest export market.
The scope of the bilateral trade relationship amounted to NZ$3.613 billion in exports in the year to December 2008 while imports from Japan were valued at NZ$3.955 billion.
But Next Stop Japan states merchandise sales to Japan have grown by only 13 percent and are largely dominated by commodities in the metals, wood and food and beverage sectors. Competition from other exporting nations has had a significant impact on New Zealand’s export revenue from the Japanese market.
So how do New Zealand businesses make further inroads or create new beach heads into what is still one of our most significant markets? The good news is that there are New Zealand companies that are succeeding in the Japanese market.
Based on interviews with representatives from a range of industries as well as government and trade officials from both countries, Next Stop Japan finds that these New Zealand companies have four things in common. They usually have a physical presence, strong partnerships, significant financial size, and a sophisticated market understanding.
The report also describes the Japan-New Zealand trading relationship, key characteristics of Japanese consumers, and Japan’s distribution systems and business culture.
It also provides advice on researching the market, modes of entry, and cost-effective marketing strategies. It highlights some of the challenges of developing commercially viable business relationships in Japan and offers advice on how to build and maintain relationships with Japanese business partners.
Tips for how to run meetings, make presentations and translate company literature are covered, as well as a list of organisations in New Zealand that offer information and advice on doing business with Japan.