By Kris Huynh, International Research Officer, Market Development Unit
As part of the Market Development Unit's role in the Ministry of Agriculture, market intelligence reports are created to highlight trade opportunities for Saskatchewan companies and producers. The ministry is excited to offer the latest market intelligence report on trade opportunities through Japan into the Association of Southeast Asia Nations (ASEAN) and European Union (EU).
Topics covered in the report include an overview of the Japanese market and trade agreements, Japan's investments into ASEAN countries and the EU through company expansions, as well as an overview of the ASEAN's market. This report reviews trade opportunities available for Saskatchewan companies and products through Canada's trade relationship with Japan, as well as Japan's trade relationships with other countries.
Japan is an established partner of Saskatchewan. As Saskatchewan's third largest export market, trade with Japan was valued at $1.1 billion in 2018. Our top agri-food exports to Japan are canola seed ($703 million), wheat and meslin ($252 million).
Canada and Japan are also signatories of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). With the CPTPP agreement now in effect, there are greater export opportunities for canola, wheat, meat and other products. Canada and Japan have expressed interest in expanding partnerships and capitalize on new trade and investment opportunities.
Japan is considered a gateway into the ASEAN market. While many Japanese companies have significant investment partnerships in North America, there is also significant expansion overseas. New investments in the ASEAN region will continue to grow due to geographical proximity, policy and program development and foreign direct investment toward infrastructure and energy development.
To find out more information about the Japanese market and receive a copy of the market intelligence report on Japan free of charge, please email Kristy Huynh.