The US-Japan Business Council has turned its attention on the renewable energy sector as members recognize several investment opportunities arising from a sweeping free trade agreement and the Japanese prime minister’s economic stimulus program, known more popularly as Abenomics.
Executive Director Jim Fatheree said: “We have a strong productive partnership with Japan and a number of major industrial areas in both countries. We see great opportunities under Abenomics and the conclusion of the Trans-Pacific Partnership will only strengthen this relationship for the upcoming years.”
Tasked with nurturing economic and business ties between Japan and the United States, the council has also encouraged collaboration in the fields of financial services, technology, manufacturing and health care.
Fatheree said: “Over the years, health care has been something receiving our concentrated effort. And I want to underscore how effective the Japanese government has been in trying to create a policy environment for pharmaceuticals and regenerative medicine.”
As the leading organization promoting economic relations between the two countries, the group brings together some of the largest American companies, all of which collectively account for a significant share of economic activity with Japan.
Based in Washington DC, the group also hosts major Japanese companies and is the only such business organization to have an institutional relationship with a Japanese counterpart – the Japan-US Business Council.
Established in Tokyo in 1967, the Japanese Automobile Manufacturers Association (JAMA) opened a branch office in Washington D.C. in order to coordinate more closely with the U.S. automotive sector and introduce innovations in vehicle and road safety and green technology.
With several Japanese carmakers operating in the United States, JAMA works very closely with the industry as it provides around 1.5 million jobs, directly or indirectly, related to production, marketing and sales, and research and development.
Executive Director Ron Bookbinder said: “I pledge that we will continue to produce vehicles in American plants by American workers. In terms of our economic footprint in 2014, Japanese automakers purchased US$ 66 billion worth of American auto parts, which is a record high figure.”
He added: “The priority remains to educate opinion leaders about economic contributions and to constantly reach out to new people. The second priority is to continue to educate about and lead in environmental technology for vehicles.
With around 80% of the alternative powered vehicles on U.S. roads being Japanese brands and sales seen to steadily grow over the next few years, JAMA realizes the importance of following developments in the country that affect the Japanese automotive companies.
JAMA, which has other branch offices in Beijing, Singapore, Toronto and Brussels, counts among its members many of the world’s largest vehicle manufacturers, including Toyota, Nissan, Honda, Mitsubishi, Mazda and Subaru.