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Global Assessment of Japan

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Submitted By bobbisworld
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Global Assessment of Japan
Bobbi Rieger, Chelsea Bergman, Sanam Amid-Hozour, Shirabe Yoshida
University of British Columbia Okanagan

In order to expand Webster Incorporated into the global market we have to consider which market would permit Webster Inc. to enter while allowing them room to grow as the competition is fierce within the faux wood industry. Our team believes the most profitable option for a global market in regards to expansion would be Japan. There are many reasons as to why this would be beneficial to Webster Incorporated. Historically, Japan and Canada have had high levels of exchanges, all the while maintaining a stable relationship. Trade between the Japanese-Canadian markets has been approximately equal in terms of importation and exportation. The most important factor of this being that one of Canada's major exports to Japan is lumber. Currently, there is a trade agreement between the two; the “Innovative Japan-Canada Economic Framework” was launched in 2005 to maximize the Japan-Canada economic relations and cooperation (Ministry of Foreign Affairs of Japan, 2011). More recently, in June of 2010 the customs administrations of Japan and Canada have signed the Mutual Recognition Agreement on Authorized Economic Operator programs. This program has allowed simplified and fast-tracked customs proceedings (Ministry of Foreign Affairs of Japan, 2011). These proceedings will contribute to furthering secure and facilitated trade between the two countries. In addition, a free trade agreement is being developed between the two nations to eliminate the barriers of trade; this would essentially lead to substantial growth for the countries markets and businesses (Foreign Affairs and International Trade Canada, 2011). Due to recent occurrences in Japan, including the devastating impact of the tsunami, there is a high demand…...

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