18 May 2012 04:10 [Source: ICIS news]
KUALA LUMPUR (ICIS)--Reconstruction works in Japan improved the country’s demand, but it will take a while before demand goes back to levels seen before the natural disasters struck in March 2011, a Japanese supplier said on Friday.
“People are buying materials for the reconstruction of damaged areas, but consumer confidence and household spending is very low and it will be a while before people are buying at pre-earthquake levels,” the supplier said on the sidelines of the 34th annual Asia Petrochemical Industry Conference (APIC) in ?xml:namespace>
The supplier said that with production now at normal levels, his company is working hard to export material to the
“Exports are expected to increase as an adjustment of the overvalued Japanese yen takes place and the world economy gradually improves,” Kyohei Takahashi, chairman of the Japan Petrochemical Industry Association said in a speech at APIC.
However, the industry should be aware that there are a number of uncertainties remaining which pose risk to economic growth, Takahashi said.
“The earthquake and tsunami in
“It is important for us to prepare for the unexpected.”
The earthquake and tsunami that wrought havoc in
Takahashi said that companies must develop business continuity plans for alternative means of supply and logistics.
APIC runs from 17-18 May.
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