– What is the role of JETRO?
– JETRO, or the Japan External Trade Organization, is a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world. Originally established in 1958 to promote Japanese exports abroad, JETRO’s core focus in the 21st century has shifted toward promoting foreign direct investment into Japan and helping small to medium size Japanese firms maximize their global export potential.
Backed by a worldwide network comprising JETRO Headquarters Tokyo, JETRO Osaka, IDE, 36 branches throughout Japan and 74 overseas, JETRO is: (1) Promoting foreign direct investment in Japan, assisting foreign companies to enter the Japanese market, such as greater inflows of capital, technologies, know-how and intellectual assets, to stimulate the Japanese economy, increase employment and enable Japan to continue demonstrating leadership in the global economy. (2) Assisting Japanese small and medium-size enterprises in the export of high-quality products, technologies and designs to the global market, as well as supporting their efforts to develop other international business. (3) Assisting Japanese investors to do business in foreign market when they set up their manufacturing factories, sales companies, R&D centers, procuring parts and materials, finding foreign partners, etc.
– Japan has been ranked No. 4 among all the foreign investors in the past 2 years. This is a spectacular achievement, how much is JETRO’s role in this success?
– In Hungary, the above mentioned (3) among JETRO’s roles in general is the most important, because the demand of information and advice on Hungarian investment environment from Japanese companies in Europe and in Japan is still very strong, so JETRO Budapest is helping them to enter the Hungarian market in cooperation with ITDH, although not all Japanese potential investors contact JETRO. JETRO cooperates with ITDH to serving potential Japanese investors in organizing seminars, responding to individual inquiries, welcoming Japanese business missions and assisting Japanese manufacturing companies operating in Europe to procure parts and materials.
– What can we expect in the future?
– JETRO Budapest will continue to strengthen trade and economic relations between two countries, assisting Japanese companies to overcome problems and difficulties they confront when doing business in Hungary, and also assisting Hungarian companies to enter Japanese market offering useful information on Japanese market. JETRO Budapest will promote Hungary as not only manufacturing place, but also sales market, regional center, R&D center, distributing center etc, emphasizing good human resources, infrastructures, etc.
