Romania's Chamber of Commerce and Industry conducting trade mission to Japan

Romania's Chamber of Commerce and Industry (CCIR) is conducting a trade mission to Japan, November 10-17, 2019, to facilitate access to the Japanese market of Romanian companies and to intensify bilateral trade. 

According to a CCIR press statement released on Tuesday, the mission comprises meetings in Osaka and Tokyo with leaders of Japan's Chamber of Commerce, Japan's foreign trade organisation JETRO, as well as the the European Union-Japan Business Development Centre and Industrial Co-operation Centre. 

The first day of the economic mission was dedicated to meetings with the Japan Romania Business Association, an event that took place at the headquarters of the Embassy of Romania in Japan, as well as with the president of the Tokyo/Japan Chamber of Commerce, Akio Mimura. 

The main economic sectors targeted by the CCIR delegation to be promoted on the Japanese market are energy, special transport and infrastructure. Thus, companies that are part of the trade mission can establish business contacts with potential business partners from Japan operating in the same areas. 

"Obviously, Romania needs to establish new business contacts with Japan, as the country is the third largest economy in the world, with a Gross Domestic Product of 4,872 billion US dollars. At the same time, Japan is a member of the G20 states, and one of the main objectives of Romania's Chamber of Commerce and Industry is to develop trade relations with other countries besides those belonging to the European Union, and we must not forget that the trade agreement between Japan and the European Union will enter into force in the spring of 2020, which will mean a market of 127 million consumers, the size of today's Japanese market. The Romanian business environment must be prepared to take advantage of all the opportunities that will emerge," according to CCIR Chairman Mihai Daraban. 

According to information provided by the National Trade Registry Office (ONRC), as of September 2019, Japan ranked 23rd among the top 50 countries of residence of foreign investors in the local share capital. In 2018, bilateral trade between Romania and Japan was almost 600 million euros, and from the beginning of the year to July 2019 commercial exchanges of 340.29 million euros were reported. The total number of companies running on Japanese capital in Romania as of September 2019, was 378, with a total of paid up Japanese share capital of 239.06 million euros.