Japan is eyeing Malta as a potential growth area for trade, the chief executive of the country’s external trade corporation has indicated.

Hiroyuki Ishiga highlighted Malta’s geographical location as strategically helpful to reach both Europe and North Africa, and noted that its economic growth in recent years had far exceeded expectations.

Mr Ishiga, who heads the Japan External Trade Corporation, was speaking during a meeting in Tokyo with Prime Minister Joseph Muscat. Dr Muscat is leading a trade delegation in Japan this week.

JETRO is a government-linked organisation set up to promote Japanese trade across the globe as well as to support foreign direct investment into the country. The organisation has 74 overseas offices in 54 countries. 

Trade between Malta and Japan remains limited, with Malta exporting roughly €100m more to Japan than it imports from the Asian nation. The two countries set up a joint chamber of commerce to promote trade opportunities in 2017.

Tuna exports make up the bulk of trade between the two countries, but Dr Muscat used the meeting with JETRO to emphasise that the country had plenty of other opportunities to offer.

Malta’s main export, Dr Muscat said, was micro-chips and the country would soon host the second-largest aircraft leasing company in the world.

He also highlighted recently-passed legislation to introduce a regulatory framework for the blockchain-based sector. Japan is one of the world’s largest cryptocurrency markets in the world.

Foreign Minister Carmelo Abela, MP Stefan Zrinzo Azzopardi and chief of staff Keith Schembri are among the Maltese government officials accompanying Dr Muscat on the trip.