Extended Romanian-Japanese economic cooperation

Romania and Japan will further develop economic bilateral relations

Leyla Cheamil, 09.03.2023, 13:50

Earlier this week,
Romania’s president Klaus Iohannis signed in Japan the Strategic Partnership
between Romania and Japan. From now on, the two countries are expected to
further develop economic relations and boost cooperation in such fields as
energy, research and investment. The decision to create this partnership was
taken five years ago as part of talks held in Bucharest between president
Iohannis and Japan’s Prime Minister at the time, Shinzo Abe. This is Romania’s
second strategic partnership with an Asian state, after South Korea.

According
to the Presidency, Romania wants to capitalize on Japan’s status as a major
innovative global economy and one of the world’s top investors. There are 397
enterprises with Japanese capital in Romania, currently accounting for over
40,000 jobs. The growth potential is significant, including in fields with a
high degree of innovation such as the development of small modular reactors
(SMRs) jointly with the United States, producing and distributing green
hydrogen, producing high-power optics, state-of-the-art infrastructure or
finalizing the M6 subway line in Bucharest.

Japan is Romania’s biggest
investor from Asia. We also want to see a substantial increase in Japanese
investments in our country. We appreciate the constructive approach of Japanese
companies operating on the Romanian market, with the observation of
sustainability principles, the Romanian president said after signing the
document. Klaus Iohannis also said that the contribution of Japanese companies
to complex infrastructure projects such as the construction of the Danube River
suspension bridge in Brăila, southern Romania, is a good example in this
respect. The bridge is the largest of its kind in Romania and the third-longest
in the EU. We encourage Japan to continue to get involved in connectivity
projects that are relevant not just to Romania, but to neighboring states as
well, president Iohannis added. In turn, Japan’s Prime Minister, Fumio Kishida,
said that Japan is eager to work with Romania as strategic partners to further
cooperation in various fields, including security, economy, science, technology
and culture. As part of his visit to Japan, president Klaus Iohannis also
visited Kyoto, where he met with local authorities. I hope Kyoto will soon be
able to sign a twinning agreement with a town in Romania, in order to
capitalize on the untapped human and economic potential of our communities,
the Romanian official said. (VP)