Conclusion of MOC with Hessen Trade and Invest (HTAI)

November 2016

Taking the opportunity of a visit to Japan by Tarek Al-Wazir, Deputy Minister-President and Minister of Economics, Energy, Transport and Regional Development of the State of Hessen, JETRO held the Japan-Hessen Business Seminar and Networking Event in Tokyo on November 1, co-hosted by the HTAI. In order to further expand trade and investment between Hessen and Japan, a memorandum of cooperation was also concluded between the HTAI and JETRO at the seminar. This is the first MOC with a German federal state for JETRO.

While JETRO has been focusing its efforts on facilitating business exchange between Germany and Japan since the signing of an MOC with the German Chamber of Commerce and Industry in Japan in March 2015, the MOC with Hessen was concluded as part of an effort to enhance investment exchange with individual regions amidst a trend in decentralization within Germany.

One of 16 states in Germany, Hessen boasts the 4th largest nominal GDP with 263.4 billion euros and the 5th largest population with six million people. The City of Frankfurt, located within Hessen, is known as a financial hub in Europe and is home to the European Central Bank. It is also known as Europe’s preeminent city for trade fairs, as is seen with “Ambiente,” one of the world’s largest exhibitions of consumer products. The state of Hessen has a high accumulation of excellent medium-sized companies, referred to in Germany as “hidden champions,” accounting for a large global share of companies in niche fields such as precision equipment and automotive parts.

JETRO will utilize the MOC with the HTAI in cooperative efforts such as holding seminars and supporting German and Japanese companies through provision of information, promoting entry into the Japanese market by leading Hessen companies as well as entry into the Hessen market by Japanese SMEs and working to expand business opportunities for companies from both Hessen and Japan.

The Japan-Hessen Business Seminar and Networking Event was joined by 65 Japanese business people. Deputy Minister-President Al-Wazir stated that both Hessen and Japan have great potential to create innovation in the fields of digital technology, development of electric cars and energy efficiency. Rainer Waldschmidt, CEO of Hessen Trade & Invest, spoke on current events regarding Hessen industries and companies involved in the Internet of Things, while the current status of Japanese companies operating in Hessen, and the rest of Germany, was introduced by General Director Watanabe of JETRO Dusseldorf. Representatives from Kawasaki Heavy Industries Germany and Merck Japan also appeared to introduce the business activities of their respective companies and the business environments in Germany and Japan.