The Japanese state-owned investment and foreign trade promotion organization JETRO (Japan External Trade Organization) has opened an office in the Bavarian capital Munich. The move underscores the growing relationship between the Asian economic powerhouse and the southern German state.
Japan is Bavaria’s second largest Asian trade partner with a volume well in excess of EUR 7 billion. There are roughly 450 Japanese subsidiaries in Bavaria, and around 8,000 Japanese people living there.
“The high concentration of leading companies, especially from the industrial sector, as well as innovative start-ups makes Bavaria an attractive location,” says JETRO CEO Nobuhiko Sasaki. “With the opening of our third office in Germany, we are now also represented in Munich.”
Japanese-Bavarian business connections have benefited from the Japan-EU Free Trade Agreement (JEFTA), which came into force in 2019 and has lifted nearly all customs duties between the two sides.