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The Lehendakari Urkullu with Japan's ambassador

The Basque Country strengthens relations with Japan / Euskadi fortalece las relaciones con Japón

Posted on July 27, 2022July 27, 2022 by BP

Japan is an attractive market for Basque companies, due to the size of its GDP, its sophisticated demand and its economic and regulatory stability.

Japón es un mercado atractivo para las empresas vascas, por el tamaño de su PIB, su sofisticada demanda y su estabilidad económica y normativa.

New Basque Overseas Network Office in Japan

The Basque Country now has an Overseas Network office in Tokyo. With this new office, Basque companies will find it easier to find business opportunities in Japan. Japan is an attractive market for Basque companies, due to the size of its GDP, its sophisticated demand and its economic and regulatory stability.

It also stands out for its complementarity with the Basque economy and ease of doing business. It is a country that finances foreign investment flows, which will allow access to companies and institutions that invest heavily in Japan and the Asia-Pacific region. For all these reasons, Japan presents a very relevant accessible market volume for Basque companies.

Furthermore, the fact of having a new office facilitates the possibilities of attracting investment in the Basque Country from the Invest in Basque Country area from both Japan and the Asia-Pacific region.

Trade relations with Japan

There are a total of 17 Basque companies established in Japan, of which 12 are commercial and 7 are production companies. The automotive sector stands out, followed by advanced manufacturing technologies.

The trade balance with that country over the last four years indicates that exports of Basque products have been growing from 112 million euros in 2018 to 156 million euros in 2021. For their part, imports have been falling from 203 million euros in 2018 to 189 million last year.

The main products exported to Japan are aluminium and its manufactures, and motor vehicles. Between them, they account for more than 70% of the total. According to ICEX, a total of 376 Basque companies regularly export to Japan.

As for imports, more than 50% are iron and steel castings, mechanical machinery and motor vehicles.

Emerging opportunities in Bio-health and Energy

As a highly industrialised country, Japan has several strategic sectors where there are important opportunities for Basque companies, including the automotive, industrial products and capital goods (especially machine tools), bio-health, energy and agri-food sectors.

In the bio-health and energy sectors, Japan has announced important investments in the short and medium term in order to achieve the established objectives. These are two strategic sectors for the Basque Country that fall within the three transitions and where it is hoped to be able to bring business opportunities to Basque companies.

Japan’s economy has a GDP of €4,432,007 million (2020), which is four times the size of the Spanish economy. With a population of 125.8 million people (2.6 points higher than the Spanish population), its GDP per capita is €35,221, while this same ratio in Spain is €23,673 and €32,727 in the Basque Country.

Industry has a strong weight in the Japanese economy, representing around 29% of its GDP. The most important industries in Japan are the automotive industry, consumer electronics and renewable energy.

Some of the most important sectors of the Japanese economy that may be of interest to the Basque Country are the automotive industry, consumer electronics, renewable energies and machine tools.

Japan has the third largest economy in the world and is a leading exporter of vehicles, machinery, electronics and robotics. However, ageing demographics have hampered expansion, with weak wage growth and inflation weighing on private consumption.

Bridging institutional relations

The Lehendakari Iñigo Urkullu met last March with the Japanese Ambassador Kenji Hiramatsu.

At the meeting, the Lehendakari and the Ambassador gave the green light to the Euskadi-Japan 2023 initiative, a programme that will include various promotional activities of a sectoral nature to be carried out in different parts of Japan and the Basque Country.

This is a pioneering initiative that aims to promote the positioning of the Euskadi Basque Country brand abroad, support all Basque stakeholders with interests in Japan, and bring the country closer to Basque society.

Japan, a priority country in the Euskadi Basque Country Strategy 2025

This meeting between the Lehendakari and the Ambassador of Japan served to confirm the numerous ties that unite the Basque Country and Japan, which is reflected in the intensification of relations between the two parties; it is not in vain that Japan is considered a priority country in the Euskadi Basque Country 2025 Strategy.

Proof of this intensification are the numerous visits and meetings that have taken place in recent years between agents and political leaders from the Basque Country and Japan, which have served to publicise the potential of Basque industry and help Basque companies to open up markets and cooperation channels in different sectors, particularly in the automotive and renewable energies sectors.

Institutional relations between the Basque Country and Japan were significantly strengthened during 2018 and 2019 with the signing of two agreements linked to the fields of energy with Fukushima Prefecture and advanced manufacturing sectors with Mie Prefecture. The Basque Internationalisation Agency’s office in Japan will help to strengthen institutional relations and to position the Basque Country in the sale of its industrial capacities. The office represents a further step in the promotion of the internationalisation of Basque companies, especially in the Asian market, with the presence of a key country for the Basque Country.

Japón es un mercado atractivo para las empresas vascas, por el tamaño de su PIB, su sofisticada demanda y su estabilidad económica y normativa.

Nueva oficina de la Red Exterior en Tokio

Euskadi cuenta ya con una oficina de la Red Exterior en Tokio. Con esta nueva oficina, las empresas vascas verán por una parte facilitada la posibilidad de encontrar oportunidades de negocio en el país nipón. Japón es un mercado atractivo para la empresa vasca, por el tamaño de su PIB, una demanda sofisticada, y una estabilidad económica y regulatoria.

Asimismo, destaca por su complementariedad con la economía vasca y la facilidad para los negocios. Se trata de un país financiador de flujos de inversión extrajera, lo que permitirá tener acceso a empresas e instituciones altamente inversoras en Japón y en la región Asia Pacífico. Por todo ello, Japón presenta un volumen de mercado accesible muy relevante para las empresas vascas.

Además, el  hecho de contar con una nueva oficina facilita las posibilidades de atracción de inversiones en Euskadi desde el área Invest in Basque Country provenientes tanto de Japón, como de la región de Asia Pacífico.

Relaciones comerciales con Japón

En Japón hay un total de 17 empresas vascas implantadas, de las que 12 son comerciales y 7 productivas. Destaca el sector de automoción, seguido de tecnologías de fabricación avanzada.

El balance comercial con aquel país durante los cuatro últimos años indica que las exportaciones de productos vascos han ido creciendo desde los 112 millones de euros en 2018 a los 156 de 2021. Por su parte, las importaciones han ido descendiendo de los 203 millones de euros de 2018 a los 189 del año pasado.

Los principales productos exportados a Japón son el aluminio y sus manufacturas, y vehículos automóviles. Entre ambas más del 70% del total.  Según el ICEX, un total de 376 empresas vascas exportan regularmente a Japón.

En cuanto a las importaciones, más de 50% son fundición de hierro y acero, maquinaria mecánica y vehículos automóviles.

Oportunidades nacientes en Biosalud y Energía

Como país altamente industrializado, Japón cuenta con varios sectores estratégicos donde existen importantes oportunidades para las empresas vascas, pudiendo destacar automoción, productos industriales y bienes de equipo (en especial, máquina de herramienta), biosalud, energía y sector agroalimentario.

En los sectores de biosalud y energía Japón ha anunciado importantes inversiones en el corto y medio plazo para alcanzar los objetivos establecidos. Son dos sectores estratégicos para Euskadi englobados dentro de las tres transiciones y donde se espera poder acercar oportunidades de negocio a la empresa vasca.

La economía de Japón muestra un PIB de 4.432.007 millones de € (2020), que es cuatro veces el tamaño de la economía española. Con una población de 125,8 millones de personas (2,6 puntos superior a la población española), su PIB per cápita es de 35.221€, mientras que este mismo ratio en España es de 23.673€ y de 32.727€ en el País Vasco.

La industria tiene un fuerte peso en la economía japonesa, representando en torno al 29% de su PIB. Las industrias más importantes en Japón son la industria automotriz, la electrónica de consumo y la energía renovable.

Algunos de los sectores más importantes de la economía japonesa que pueden ser de interés para Euskadi son la automoción, la electrónica de consumo, las energías renovables y la máquina herramienta.

Japón tiene la tercera economía más grande del mundo y es un exportador líder de vehículos, maquinaria, electrónica y robótica. Sin embargo, el envejecimiento demográfico ha obstaculizado la expansión, con un débil crecimiento de los salarios y una inflación que pesa sobre el consumo privado.

Puente de relaciones institucionales

El Lehendakari Iñigo Urkullu se reunió el pasado mes de marzo con el Embajador de Japón Kenji Hiramatsu-

En el encuentro, el Lehendakari y el Embajador dieron luz verde a la iniciativa Euskadi-Japón 2023, un programa que incluirá diversas actuaciones promocionales de carácter sectorial a desarrollar en distintos lugares de Japón y Euskadi.

Se trata de una iniciativa pionera que pretende impulsar el posicionamiento de la marca Euskadi Basque Country en el exterior, dar apoyo a todos aquellos actores vascos con intereses en Japón, así como acercar el país nipón a la sociedad vasca.  

Japón, país prioritario en la Estrategia Euskadi Basque Country 2025

Dicho encuentro entre el Lehendakari y el Embajador de Japón sirvió para constatar los numerosos lazos que unen a Euskadi y Japón que se traduce en la intensificación de las relaciones entre ambas partes; no en vano Japón es considerado país prioritario en la Estrategia Euskadi Basque Country 2025.

Muestra de esta intensificación son las numerosas visitas y encuentros que se están produciendo en los últimos años entre agentes y responsables políticos de Euskadi y Japón, que han servido para dar a conocer el potencial de la industria vasca, y facilitar a las empresas vascas la apertura de mercados y canales de cooperación en diferentes sectores, y en particular, en la automoción y las energías renovables

Las relaciones institucionales entre Euskadi y Japón se reforzaron de manera importante durante el 2018 y 2019 dando lugar a la firma de dos convenios ligados a los ámbitos de la energía con Prefectura de Fukushima y a los sectores ligados a la fabricación avanzada con la Prefectura de Mie. La oficina de la Agencia Vasca de Internacionalización en Japón ayudara en potenciar las relaciones institucionales y a posicionar a Euskadi en la venta de sus capacidades industriales. La oficina supone un paso más en el impulso en la internacionalización de la empresa vasca y en especial en el mercado asiático con la presencia de un país clave para Euskadi.

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