Unlocking New Horizons: How the Services Trade Fair is Revolutionizing Japan-China Economic Ties – An Exclusive Conversation with Ayumu Kusaba
Exclusive Interview: Japan-China Economic and Trade Cooperation Gains Momentum
Xinhua News Agency, Tokyo, September 11th. Ayumu Kusaba, Deputy Director of the Beijing Representative Office of the Japan External Trade Organization, shared his insights on the growing momentum of Japan-China economic and trade cooperation in an exclusive interview with Xinhua News Agency.
According to Kusaba, a record number of Japanese companies participated in the China International Fair for Trade in Services this year, demonstrating the vast potential for cooperation in trade in services between Japan and China. The Fair is expected to continue injecting momentum into Japan-China economic and trade cooperation.
2024 China International Fair for Trade in Services
The 2024 China International Fair for Trade in Services is scheduled to take place in Beijing from September 12th to 16th, with the theme “Global Services, Mutual Benefit and Sharing.” The event will feature the Global Services Trade Summit, exhibitions, negotiations, promotions, results releases, and supporting activities. Over 80 countries and international organizations will set up exhibitions and hold conferences.
Record Participation from Japanese Companies
This year, more than 50 Japanese companies participated in the exhibition, breaking the historical record. Kusaba attributed this to the positive experiences of Japanese companies in previous years. The Japan External Trade Organization organizes Japanese companies to attend the “Trade in Services Fair” every year, with fruitful results.
Features of the Japan Pavilion
The Japan Pavilion at this year’s CIFTIS will feature a Japan tourism promotion event in the first half and the mascot of the 2025 Osaka World Expo “Maimai” in the second half. Kusaba highlighted the broad prospects for cooperation between Japan and China in the field of service trade, citing the popularity of Japanese anime works and Chinese-designed mobile games.
Global Trade in Services
Global trade in services has developed rapidly over the past decade, with the World Trade Organization predicting that the proportion of trade in services in international trade will increase from 22% to over 33% by 2040. In the first half of this year, China’s trade in services reached a record high, with total imports and exports of services reaching 3.6 trillion yuan, a year-on-year increase of 14%.
Significance of Trade in Services
Kusaba emphasized the significance of trade in services in improving people’s quality of life and stimulating economic vitality. The China International Fair for Trade in Services brings together various forms of trade in services from around the world, promoting exchanges and cooperation in trade in services among countries and contributing to global economic development.