Chairman's Messages

Chairman's Speeches


Chairman
KOBAYASHI Ken
(Chairman, Mitsubishi Corporation)

The world today stands at a turning point. The rapid progress of digital technology continues to bring huge changes not only to business models, but to people’s daily lives and the frameworks of society itself. At the same time, concern continues to mount across society regarding issues such as the Sustainable Development Goals (SDGs), environmental, social, and governance (ESG) management, work style reforms, and diversity, to name a few. It is fair to say that we stand on the threshold of a new and unknown era.

We have always pursued our economic activities in the belief that global economic cooperation promotes development, leading to world peace and prosperity. Recently, however, trade frictions between the United States and China have sparked a growing trend toward protectionism and economic nationalism, and there have been calls for WTO reforms to make the organization competent to tackle the challenges of the 21st Century. The impact of these factors goes beyond the economy, and is starting to cause major changes in the existing patterns of international relations.

It is against this background that the novel coronavirus crisis has arisen. The economic impact of the pandemic has already exacerbated protectionist trade policies, and there is a risk that it could accelerate fragmentation and lead to wider divides in the international community. The crisis has already sharpened tensions between the United States and China, frayed solidarity among EU member states and has brought about a global economic crisis, coupled with historically low oil prices. In the face of such challenges the need for international cooperation and coordinated action has never been greater, and I believe that Japan will have a more important role to play than ever before.

In addition to promoting and expanding investment and trade as we have done to date, the Shosha sector needs to come up with bold new approaches that go beyond conventional thinking, including by creating new businesses that make full use of the digital transformation. Reestablishing close connections in a fracturing world, reinvigorating the stagnant economy, and working to bring about a more prosperous world: these too are part of our mission. As an industry association representing the Japanese Shosha sector, the Japan Foreign Trade Council, Inc. (JFTC) will work to fulfill its role in helping to pioneer the full potential of this new era, working in close cooperation with the Japanese government and with trade bodies worldwide to make increasingly proactive policy proposals. Our continuing mandate will be to maintain and develop the free trade system and to work toward putting in place comprehensive systems and a business environment conducive to free corporate activities.

JFTC will move to a brand new office in January 2021. I hope you will give us your continued support as we work to develop the potential of the coming era from our new home.