Japan launched a project Monday to create an efficient logistics network in Asia centered on the 10-member Association of Southeast Asian Nations, aiming to halve distribution costs and the lead time for cross-border shipments in the region over five to 10 years.
The Ministry of Economy, Trade and Industry and the Land, Infrastructure and Transport Ministry organized a meeting to promote the logistics partnership attended by the leaders of 12 business bodies. The project is also to boost the competitiveness of Japanese firms in Asia.
Compared with the 25-member European Union and the North American Free Trade Agreement consisting of the United States, Canada and Mexico, Asia lags behind in efficient distribution services due mainly to the lack of necessary infrastructure, government officials said.