TOKYO, July 29 (Xinhua) -- Joint efforts of China and Japan in the development of third-party markets has promising prospects, said Tatsuo Yasunaga, president and chief executive officer (CEO) of Mitsui & Co., Ltd of Japan.

With continuous strengthening of Japan-China relations, there are more opportunities for cooperation between the two sides, especially in terms of third-party markets development, the conglomerate's president told Xinhua in a recent interview in Tokyo.

Yasunaga said that cooperation between Japanese and Chinese companies in third-party markets can help complement each other's advantages.

Chinese companies have strong competitiveness, especially in the infrastructure sector, while Japanese companies have accumulated a lot of experience in terms of projects and management, Yasunaga said.

Combining the advantages of the two sides can create a very competitive partnership, he said.

Yasunaga said he is looking forward to an increasing number of cooperation projects between Japanese and Chinese enterprises in third-party markets.

Compared to doing business alone, Japan-China cooperation offers more competitive products in terms of price and quality, creating a triple-win for Japan, China and the third-party markets as well, he said.

The entrepreneur also expressed confidence in China's economic prospects. He said that China's economy has a lot of leeway and the mainland area still has a lot of room for development.

Meanwhile, China's personal consumption growth is very strong and the government has handled economic policies properly, he said.

Yasunaga pointed out that many Japanese companies have been doing businesses in China.

In recent years, Chinese consumption has been upgrading continuously and the demand for medium and high-end products has been expanding, he said.

Japanese companies should seriously consider how to take root in the Chinese market and meet the needs of Chinese consumers with better products and services, the CEO said.

Yasunaga became Mitsui's president in 2015. Founded in 1947, the group is one of Japan's largest conglomerates.

Currently, the company has 138 offices in over 60 countries and regions, covering fields including equipment investment, energy, chemicals, food, medical care, finance and logistics.