A new Era in Greek-Japanese relation
Greek-Japanese bilateral relations have been stable for 122 years and are now entering a new era. An era of changes in the global economy, changes opening new paths of cooperation and, at the same time, facilitating the further development of economic diplomacy, as the conditions for attracting foreign investments have been created, and our country’s image on the international stage has changed.
The EU-Japan Economic Partnership Agreement, of which Greece is a direct beneficiary, creates one of the largest free trade deals in the world, covering nearly 30% of global GDP and 40% of global trade. The third largest economy in the world, Japan is now open to foreign competition, welcomes foreign direct investments and supports the internationalisation efforts of Japanese enterprises. The Japanese economy is oriented towards exports, with proven know-how and experience in implementing major infrastructure projects and providing technological solutions and innovative equipment and services throughout the world. Its economy is also distinguished for its access to investment capital, and its enterprises proactively seek investment opportunities throughout the world, committed to excellence in the implementation of their agreements.
Our two countries’ historically good relations and the great interest of the Japanese government and Japanese business giants in seeking investments in specific sectors in Greece started to pick up new momentum following January’s official visit to Tokyo by a Greek government delegation. During this visit, the two countries decided to work on a memorandum of understanding that would result in specific agreements during prime minister Kyriakos Mitsotakis’ visit to the Japanese capital to attend the Olympic Games a few months from now. As maritime superpowers, Greece and Japan attach great importance to the rules governing international shipping and, more specifically, to the UN Convention on the Law of the Sea. Greek suppliers of shipping equipment have a presence in Japan, and Greek shipowners have had their most technologically advanced vessels built in Japanese shipyards.
The meetings and talks of the Greek delegation during their five-day mission in Tokyo were many and productive. Emphasis was put on speeding up the signing of the Agreement on Avoidance of Double Taxation and on cooperation – based on a memorandum – between the Development Bank of Japan (DBJ) and the Hellenic Development Bank. Another key topic of discussion in the delegation’s talks was the request for a direct air link between the two countries. Also discussed was a visit by the Japanese Business Federation (Keidanren) to Greece and the invitation of Japanese companies to our country to cooperate with Greek start-ups. Moreover, major Japanese enterprises – not yet having offices in the wider region – see Greece as a hub for penetrating the Balkans and central Europe.
More specifically, Japan’s Agency for Natural Resources and Energy requested information from Greece on energy investment programmes and asked that a specific proposal be drawn up for cooperation on hydrogen technology issues. In fact, the Olympic flame at this summer’s Tokyo Olympics will, for the first time, be fuelled with hydrogen, in a move symbolic of the new era in which the two countries are strengthening their bilateral cooperation.
“The business of Japan is business.” Japanese business executives used this phrase to set the focus of their intentions regarding the dynamic of the Greek market, which is now on their radar. The future of strengthened Greek-Japanese relations has begun, and the prospects are excellent.
February 9, 2020