With a view to recover the hundreds of millions dollars that Australia lost in wool trade in Japan, a new strategy report has been drafted by the Australia-Japan Research Center. The report, which is commissioned by Australian Wool Innovation, proposes a scheme that focuses on trade policy and a bigger presence for the Australian wool industry in Japan.
The trade element of the strategy concentrates on removal of tariff and non-tariff barriers along the international supply chain. The removal of such tariffs would involve activities in the WTO, the Asia Pacific Economic Cooperation forum via free trade
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| agreements. Further recommendations of the report involve setting up of an Australian Wool Circle in Japan to represent Australian wool interests. This association would anticipate new products, understand wool's role in retail trends in Japan and promote contact between processors and suppliers.
Statistics reveal that the value of wool trade with Japan - raw wool and wool tops - fell to a 10th since 1994, from $US422 million to $US40 million in 2001. This decline is said to be the result of big changes in the processing, manufacturing and distribution chain and in consumer demand. Also, the rate of this decline far exceeds the decline in the value of all Australian wool exports. 
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