Japan and ASEAN seek to boost trade

The trading partners are expected to agree on a digital roadmap in an action plan at the Japan-ASEAN economic ministers meeting in Indonesia later this month. The roadmap will include targets for digitized trade volumes, as well as targets for digitizing customs procedures in each country.

Trade between Japan and ASEAN countries grew 17% to $240.2 billion in 2021, but much of it is still paper- and email-based. Each import-export transaction can involve dozens of documents, including certificates of origin and payment information. The format varies from company to company, making the process cumbersome. Meanwhile, a growing number of private-sector services are helping to streamline trade through digital forms and central data management. The roadmap will seek to promote data links between companies providing such services in Japan and ASEAN. Japan could help countries that do not have such service providers.

The Japan-ASEAN roadmap will also include a partnership on mining and recycling of minerals from discarded products. The move comes as many countries seek a stable supply of lithium, rare earths and other critical minerals from discarded electronic products. Japan has invested in this area and wants to share its technology with ASEAN countries in the roadmap.

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