Nuevo León strengthens its commercial relationship with JapanBy Elliot Bullman
Japan continues to identify business opportunities and investment projects in Mexico
Last month, the Japanese foreign trade organization JETRO held its Japan Investment Seminar in Nuevo León. The seminar was designed to strengthen trade and cultural ties with Mexico and identify future investment projects.
Kena Yañez Martínez, Regional Coordinator of ProMexico in the Northeast of Mexico, acknowledged during her presentation the importance of the relationship between the two countries throughout history and emphasised the great value of JETRO and ProMexico in the fields of trade and investment.
JETRO is an autonomous Japanese governmental organization founded in 1958 whose objective is to carry out activities related to the promotion of international trade in Japan. It should be noted that the same year of its foundation, it established an office in Mexico.
The objective of JETRO initially was to promote the expansion of Japanese trade in international markets, however, as the trade balance became a surplus, the prevailing circumstances motivated a shift towards the promotion of imports.
In Nuevo León 76 Japanese companies operate and generate around 20 thousand direct jobs, among which are Denso, Takata, Panasonic and Toto.
In 2014, trade between the two nations amounted to $20 billion USD.Most of the trade is in agricultural products, alcohol and automobile parts. Between 2005 - 2012, Japanese companies invested over $12 billion USD in Mexico, mainly in the automotive sector. Today over 900 Japanese enterprises are established in Mexico.
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