Remarks of Consul-General Hidenobu Sobashima at “Doing Business in Japan” Seminar on Thursday 6 February 2014
Officials of the Department of State Development, Business and Innovation,
Distinguished Lecturers,
Distinguished Guests,
Ladies and Gentlemen,
Good afternoon.
I appreciate this opportunity to say a few words at this “Doing Business in Japan” Seminar.
At the outset, I should like to express my sincere gratitude to the organizers and participants, for further developing business relations between Japan and Victoria is my top agenda item.
Japan and Australia have a long and important economic relationship, with Victoria playing a significant role.
Japan had been Australia’s largest trading partner for nearly 40 years until 2008 and Japan remains the largest source of Australia’s trade surplus.
Japan is currently the world’s third largest economy in terms of GDP, after the United States and China. That is a flow evaluation.
If you look at the stocks, Japan is the largest net creditor in the world.
I am not rich, but Japan as a whole is rich in that sense.
After suffering from deflation for two decades, the Government of Japan is implementing Abenomics of aggressive monetary policy, flexible fiscal policy and growth strategy to promote investment, to get out of the deflation.
Currently the organizations of workers and company managers are negotiating salary increases in Japan.
Premier Dr Denis Napthine led a Victorian trade mission to Japan in October last year.
His three main focuses were food, infrastructure and retail businesses.
Next month FOODEX Japan 2014 that is the largest food and drinks exhibition in Asia, continuing for nearly 40 years, will be held in Japan.
Therefore, this Seminar is quite timely and important.
So I thank the organizers once again and welcome the participants once again.
Thank you.