Japan’s Prime Minister, Fumio Kishida, announced plans to create measures aimed at supporting the fishing industry, which has been severely impacted by China ban on Japanese seafood. Kishida made this announcement following a visit to Tokyo’s largest fish market. To fund these measures, the government intends to allocate additional funds, estimated to be several tens of billions of yen (equivalent to hundreds of millions of dollars), from the government’s budget reserves for the current fiscal year, as reported by the Nikkei.
Kishida expressed his commitment to devising these measures, taking into account the various viewpoints he had gathered from the fishing industry during his visit. The requested support encompasses assistance for fishing companies in exploring new sales opportunities and engaging in discussions with China.
The ban imposed by China on Japanese seafood products came as a response to Japan’s release of treated radioactive water from the damaged Fukushima nuclear power plant into the Pacific Ocean. This ban has had significant repercussions on Japan’s fishing industry, as China is its largest trading partner.
To alleviate the industry’s challenges, the Tokyo government has established two funds, totaling 80 billion yen (equivalent to US $548 million), with the aim of developing new sales channels and storing surplus fish until demand rebounds, among other initiatives. Earlier, officials had denied the possibility of implementing additional fiscal measures to support the industry.
In 2022, over 700 Japanese companies exported approximately $600 million worth of aquatic products to China, making it the largest market for Japanese exports in this category, with Hong Kong following suit by announcing its ban on seafood imports from ten Japanese regions in response to the Fukushima incident.
Japan’s Fisheries Minister, Tetsuro Nomura, disclosed plans to diversify Japan’s fish exports, particularly for products heavily dependent on the Chinese market, such as scallops. In 2022, more than half of Japan’s scallop exports were directed to China.
Additionally, some Japanese officials have indicated the possibility of diplomatic actions to urge China to lift the ban, asserting that it lacks a scientific basis. This could include filing a complaint with the World Trade Organization (WTO).
