JETRO welcomes EU – Japan EPA which can boost bilateral investment and trade between Japan and Romania

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Organizatia Japoneza pentru Comert Exterior – JETRO Bucharest office is a governmental organization and it has been functioning in Romania since 1971 as a non-profit entity. Our mission is mainly to support the mutual investment between Japan and Romania and to promote the export from Japan to Romania. Through our projects and events, such as business meetings & delegations, exhibitions or seminars, we are trying to achieve our missions.

“On 8 December 2017 the European Union and Japan finalized the negotiations for the EU-Japan Economic Partnership Agreement (JEEPA). As a result, we are expecting a great boost in the mutual investment and trade between Japanese and Romanian companies in the near future.”, Mr. Keisuke Mizuno, General Director of JETRO Bucharest office, said.

JETRO strongly supports to promote this agreement through events such as “Parts & Components Procurement Exhibition”, which was organized in February 2017, in Bucharest, by JETRO Bucharest in collaboration with the Chamber of Commerce and Industry of Romania. We are pleased to say that the event was a success, as both the Japan-affiliated manufacturing companies and local suppliers had a chance to discuss and start off new business partnerships. In this respect, JEEPA will activate and boost their trade and investment even more in the near future.

Currently, there are around 246 Japanese companies operating in Romania. This number includes the companies with at least 10% Japanese capital registered in Romania (direct investments) and also Japanese indirect investments, which do not appear in the national statistics. However, we hope that the successful conclusion of the EU-Japan EPA negotiations will help increase the Japanese investments in Romania and also more Romanian companies will start expanding to Japan.

“Regarding Japanese investments in Romania, there are 22 manufacturing subsidiaries with 46 factories, hiring about 40,000 employees. The main sector is automotive, but lately we observed that there are some Japanese investments in other sectors as well, such as IT industry, entertainment and so on. For example, software services and solutions provider NTT DATA Romania announces their plan to expand their number of employees up to 3,500 by 2020. In addition, business process outsourcing company Pole To Win established a new office in Bucharest last year.”, Mr. Mizuno added.

JETRO’s main activities in the present, especially in Europe, is acting as a consultant to support foreign companies interested in expanding their businesses to Japan, through our “Invest Japan” program. Through this program we conduct business development activities to promote and assist overseas companies establish a corporate entity in Japan. The program includes offering support such as research and identification of potential partners and business matching, business delegations to Japan, offering comprehensive business and industry information available through events, business advisors, booklets and website.

JETRO believes that the continuous communication between the private and the public sector is very important for the development of the business environment in Romania. This is why one of JETRO’s initiatives in Romania this year was to organize a round table meeting, where Government officials were invited to participate in a discussion with the representatives of Japanese companies on several issues the private sector is currently facing. We consider that by organizing such meetings we can improve the communication between the Romanian authorities and the private sector, which might lead to better conditions for foreign companies in Romania.

Another good potential contribution from Japanese companies would be in services industry. In August this year JETRO organized a Japanese delegation in Romania for service industry. Japanese companies in retail (healthcare, beauty products, variety goods), cleaning services, corporate protocol services, consulting, restaurant chains, supermarket and so on participated in this delegation.

JETRO is constantly striving to contribute to the development of the relationship between Romania and Japan through projects such as seminars, business delegations, conferences and so on.

JETRO was established in 1958, to promote trade comprehensively and efficiently. Since then, JETRO has not only succeeded in expanding trade between Japan and other countries, but has also pursued a wide variety of activities, such as promoting foreign direct investments and supporting Japanese companies to export from Japan. There are 74 JETRO overseas offices, out of which 14 are in Europe.

JETRO Website: www.jetro.go.jp