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Japan, interested in developing IT, automotive businesses in Romania
Romania and Japan have agreed to launch several joint programs in the IT and automotive fields, one of which is the production of specialized automotive components needed by Toyota Motors plants in the Czech Republic, reads a press release from the Ministry for the Business Environment, Trade and Entrepreneurship (MMACA), sent on Friday.
The implementation of a new Japanese investment in Romania, as well as the development of joint initiatives in the start-up, IT and the automotive industry fields, were two of the conclusions of the discussions held by the Romanian delegation led by Secretary of State Paula Pirvanescu with the Japanese business community during the official visit to Japan carried out July 19 to 26.
According to the cited source, the representatives of Japan's JTEKT Corporation have shown the Japanese investor's interest in expanding operations and production facilities from Koyo Seiko Romania (former Alexandria Bearing Company) in order to be able to produce specialized automotive components needed by Toyota Motors plants in the Czech Republic. The value of the investment announced in the Alexandria unit is 125 million euro. Moreover, Japanese car manufacturers are taking into account the relocation of some activities in Eastern Europe, including an industrial auto park in Romania, the ministry notes.
At the discussions between the Romanian and Japanese officials within the two business seminars in Osaka and Tokyo, organized with the support of JETRO (Japan External Trade Organization), the Romanian official agreed with the representatives of the Kyoto Chamber of Commerce and JETRO to sign this autumn, a partnership in IT and start-ups field, along with the launch of several joint IT and automotive programmes.
In 2018 bilateral trade amounted to 709.7 million US dollars, out of which Romanian exports worth 296.1 million US dollars and imports of 413.6 million.
The main Romanian products exported to Japan are: wood and semi-wooden products, clothing and accessories, electrical machinery and equipment, chemicals, metal products, footwear, glass, ceramics, wines, honey and cosmetics.
At the same time, Romania imports from Japan means of transport, electrical equipment, machinery and equipment, metal products, chemicals, optical and photographic instruments and appliances.