PRESS INFORMATION
During a meeting which took place today, Ştefan-Radu Oprea, Minister of Business Environment, Commerce and Entrepreneurship, and Yasukazu Irino, Executive Vice-President of the Japan External Trade Organization – JETRO, set out details for organizing a Japanese economic mission in Bucharest. The economic mission of Japanese investors is scheduled for November this year.
The two officials stressed the favorable context for bilateral relations, marked by the success of the Romanian economic mission in Japan in May, and by the Japan-EU Economic Partnership Agreement entering into force.
Minister Oprea presented the new form of state aid for major investments in the Romanian economy and underlined the Romanian state’s willingness to attract investors in PPP projects. “We will present concrete projects to the Japanese partners, so that in November we will have business-to-business discussions, “Oprea said.
Yasukazu Irino reported that about 20 major Japanese companies will attend the economic mission in November and the main areas of interest are information technology, smart-city projects, collaboration with digital industry entrepreneurs and the M6 subway artery in Bucharest. Yasukazu Irino also presented the actions of JETRO Romania, which organizes delegations of Japanese companies throughout the country to identify investment opportunities.
Background information
The Japan External Trade Organization is a Japanese governmental organization aimed at promoting trade and mutual investment between Japan and the rest of the world.
2017 bilateral trade amounted to USD 650.40 million, of which Romanian exports USD 262.69 mil. (up by 9.80% as against the previous year) and imports USD 387.71 mil. (up by 5.13%). The trade balance remained unfavorable to Romania, with a deficit of USD 125.02 million in 2017.
The main Romanian products exported to Japan: wood and wood semifinished products, clothing and accessories, electrical machinery and equipment, chemicals, metallurgical products, footwear, glass, ceramics, wines, honey, cosmetics.
Main Japanese products imported to Romania: means of transport, electrical equipment, machinery and equipment, metal products, chemicals, optical and photographic instruments and apparatus.
According to European institutions aggregate data, annual exports from the EU to Japan amount to EUR 86 billion, involving 74,000 companies and 600,000 jobs. Enforcement of the trade agreement with Japan could lead to an increase in exports of 180% for processed foods, 22% for chemicals and 16% for electrical equipment.
Ministry for Business Environment, Commerce and Entrepreneurship
Press Office