Japanese retailer plans to boost PHL product sourcing

JAPANESE retailer AEON Retail Co., Ltd. plans to expand its product sourcing from the Philippines to include coconut products, avocados, chocolates, and pili nuts, according to the Trade department.

In a statement, the Department of Trade and Industry (DTI) said that it met with AEON Retail on Sept. 12 to discuss the firm’s product sourcing expansion and potential investments in the Philippines.

“AEON engages in trade relationships with Philippine suppliers, primarily importing bananas and pineapples,” the department said over the weekend.

“Building on this, AEON Retail Co. seeks to expand its sourcing to include other food products, such as coconut and its by-products, avocados, chocolates, and pili nuts,” it added.

In addition to food products, the DTI said that the Japanese firm is also interested in sourcing Tatak Pinoy and OTOP (One Town, One Product)-compliant items for its retail stores.

“The DTI is committed to facilitating AEON’s sourcing activities and ensuring that Philippine products meet the high-quality import standards of Japan,” the department said.

“Both parties also discussed potential collaboration in trade shows and exhibitions, further strengthening the trade ties between the two nations,” it added.

In a separate release, the DTI stated that Acting Secretary Cristina Aldeguer-Roque also met with officials from MinebeaMitsumi, Inc., who expressed their commitment to further invest in the Philippine semiconductor sector.

“MinebeaMitsumi’s recent approval for a Global South Subsidy from the Japanese government for their semiconductor facility expansion in Cebu underscores their confidence in the Philippines’ potential in this industry,” the DTI said. — Justine Irish D. Tabile