Swiss companies face a golden opportunity to tap into Japan's transforming consumer market, Economics Minister Doris Leuthard said during a visit to the country.Leuthard told swissinfo.ch this week that the environmental, health and pharmaceuticals sectors show the greatest potential for growth when Japan's ailing economy gets back on track.
She also shared her first impressions about the new government that re-painted the Japanese political landscape when it came into power on August 30.
Leuthard was in Japan to promote the free trade accord (FTA) between the two countries that came into force on September 1. She also met for the first time with ministers of the new Japanese government.
swissinfo.ch: What were the main successes of this trip?
Doris Leuthard: Our Swiss Symposium attracted a lot of high ranking people from business, science and culture from both Japan and Switzerland. We wanted people to get in touch, find investors and promote the free trade agreement. We had 700 to 800 visitors, so this was a great success.
swissinfo.ch: What are the growth areas for Swiss exporters to Japan?
D.L.: Japan will be among the countries that will recover quite rapidly. Therefore, we think it will be quite interesting to be present here, especially in the environmental sector.
For example, houses are built in Japan with a life cycle of just 30 years so there is a lot of potential for our construction industry. There is also potential heating systems, solar energy and water supply.
We are also promoting Swiss design. Japanese goods are functional, but consumers also like brands and innovative design. We have some famous architects, engineers and designers who would like to enter this market.
swissinfo.ch: Is there also a profitable market among rapidly ageing Japanese consumers (expected to make up 40 per cent of the population by 2055)?
D.L.: Nestlé have re-focused many of their products because they are aware of the needs of the over-65s. The Japanese are very health conscious and our pharmaceutical, food and nutrition industries are well placed here.
swissinfo.ch: What are you doing to attract Japanese investment to Switzerland?
D.L.: Switzerland currently invests 16 times more in Japan than vice versa. Therefore we tried to inform potential Japanese investors about our shared values of high quality, research and development, a skilled labour force, life quality, stability and safety.
We are trying to attract electronic, pharmaceutical and IT companies heading to European markets because we have a lot of expertise in these areas in Switzerland.
swissinfo.ch: What are your early impressions of the new Japanese government?
D.L.: It was too early to discuss detailed content of their new positions, but I was surprised with the openness of the new ministers. It was not as formal as before - I could hold talks without so much protocol. This new behaviour was a positive surprise how we can talk together.
The new economics minister, , told me that the government will be more open to other FTAs. Opening up markets to others sends a good signal during such a difficult crisis, that a lot of other countries have used to introduce more protectionist measures.
Matthew Allen in Osaka, swissinfo.ch
