Vietnam's exports account for only 2.7 per cent of total import demand in Japan. Viewing this, authorities from the Ministry of Industry and Trade (MoIT) see room for growth in that particular market.
According to Nguyễn Duy Kiên, from the Department of Markets for Asia and Africa, Vietnam's exports increased sharply in recent years, but they still accounted for a very small proportion of Japan's total imports. Japan is the country's third-largest export market, after China and the US.
According to Kiên’s department, bananas have great opportunities to export to the North Asian country. “Japan needs $1 billion of bananas per year, while Vietnam only exports $3 million there per year. Ninety per cent of imported bananas from Japan are now supplied by the Philippines," Kiên told thestar.com.my. “Vietnam still has a lot of room to promote exports to the Japanese market.”
It has to be remembered, though that, as Japan is a leading developed economy with high incomes, in addition to product quality requirements, the market is increasingly paying more attention to environmental friendliness, safety, rich and diverse designs of the products.