On Wednesday, the Texas Governor’s Office of Economic Development and Tourism Division (EDT) signed a Statement of Mutual Cooperation with the Tokyo Metropolitan Government’s (TMG) Bureau of Industrial and Labor Affairs to assist small and medium-sized enterprises in Tokyo looking to expand to Texas.
On behalf of the State of Texas, Executive Director of EDT Adriana Cruz will be signing the statement.
Texas and Japan have maintained a strong economic and cultural relationship through the last two decades.
“The State of Texas is proud to sign the Statement of Mutual Cooperation, further strengthening our already dynamic partnership with Tokyo and opening even more doors to economic expansion here in the Lone Star State,” said Governor Abbott. “Tokyo and Texas may be half a world apart, but we are closing that gap by facilitating more investment and economic development between our two regions. I look forward to our continued work together as we create a more robust partnership and a more prosperous future.”
The Economic Development and Tourism Division has organized eighteen local economic development partners to assist in completing the goals for the program across the state. This would include accessing and sharing information, access to “soft landing” programs, referrals to services, and the facilitation of introductions to local contacts, companies, investors, start-ups, and universities to foster integration in ecosystems locally.
The fruitful relationship between Texas and Japan dates back as early as the early 2000s. Between 2003 and 2021, their collaboration through foreign domestic investments resulted in 165 projects with a capital investment of $1.3 billion and 25,292 jobs.
In 2020, Texas’ sixth largest export destination was Japan, at more than $9.8 billion in organic chemicals, mineral fuel and oil, electric machinery, aircraft and spacecraft parts, and industrial machinery. That same year, Texas imported $20.43 billion worth of goods from Japan.
The Statement of Mutual Cooperation is a direct result of Governor Abbott and Tokyo Governor Yuriko Koike’s planned cooperation with one another.