Philippines: Joint venture for exports to Japan

Philippine Aquamarine Resources Inc., a company set up by former congressman Rene Diaz, is leading moves for joint venture arrangements with a consortium of Japanese companies to set up plants for the export of various agricultural products, in General Santos and Davao (for Mindanao).

The products to be processed will be from all over the Philippines and the joint venture arrangements will promote Philippine aquaculture and agricultural products in the international market, and initially in the Japanese market.

According to Philippine Aquamarine Resources, the project will first focus on aquamarine products.

The project will also involve the latest technology in processing, cold storage, cooking, packaging, and shipping.

Fruits such as mangoes, coconut, pineapple, and bananas will be the initial exports. Other agricultural products such as vegetables, fruits, and nuts are also being developed.

The partner institutions in the Japanese consortium are Nisshin Food Material Co. Ltd., Yamato Global Express Co. Ltd., Yamato Web Solutions Co. Ltd., Yamato Transport Co. Ltd., Showa Denko K.K., Showa Denko Gas Products Co. Ltd., North Japan Trade Co. Ltd., Yuasa Trading Co. Ltd., Dai Nippon Printing Co. Ltd., Majend MAKCS Co. Ltd., Hokkaido Ajinomoto Co. Inc., MC Food Specialties Inc., Showa Sangyo Co. Ltd., Yokoyama Foods Co. Ltd., and Tomoechan Co.

Philippine Aquamarine Resources said the distinctive character of these joint ventures is that major buyers and distributors in Japan consisting of supermarket chains and wholesalers are part of the consortium.

The aggregate sales of these Japanese firms amount to about $65 billion per annum. 



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