Texas Border Business
AUSTIN – Governor Greg Abbott today met with Chief Cabinet Secretary Yoshimasa Hayashi of Japan while in Tokyo on the fifth day of an economic development mission to Taiwan, South Korea, and Japan.
“As our fifth largest trading partner, I am proud to be in Tokyo today with Chief Cabinet Secretary Hayashi to strengthen our economic relationship with Japan,” said Governor Abbott. “Texas and Japan aspire to drive the future of innovation, and by meeting with Japanese government officials, we ensure Texas and Japan continue to work together to spur economic growth and prosperity for our two peoples. We will ensure our economic ties are bolstered through cooperation and mutual economic development that will empower the next generation of leaders to thrive.”
Governor Abbott kicked off the day by meeting with Central Japan Railway Company (JR Central) Chairman Shin Kaneko and JR Central President Shunsuke Niwa in Nagoya, Japan. The Governor then traveled to Nagoya Station, where he boarded a high-speed bullet train to travel from Nagoya to Tokyo to continue the economic development mission.
Once in Tokyo, Governor Abbott attended a luncheon hosted by the Japan External Trade Organization (JETRO) and delivered remarks to Japanese business leaders. During his remarks, the Governor touted Texas’ booming economy and highlighted how Texas and Japan are critical economic partners, with Texas doing more than $31.2 billion in total trade with Japan in 2023. The Governor also noted the strong partnership Texas has with Japanese companies who have invested in the state, including Mitsubishi, Tokyo Electron, Fujifilm, and Toyota. Following the luncheon, Governor Abbott met with JETRO Chair and CEO Norihiko Ishiguro. The Governor thanked Mr. Ishige for his organization’s ongoing support and promotion of Texas to Japanese companies.
Governor Abbott then met with Chief Cabinet Secretary Hayashi at the office of the Chief Cabinet Secretary in the Prime Minister’s Office, known as the Naikaku Sōri Daijin Kantei. During the meeting, the Governor and Cabinet Secretary explored ways Texas and Japan can continue to strengthen the economic partnership through trade and new foreign direct investments. The Cabinet Secretariat of Japan is a critical agency within the Japanese government, with the Chief Cabinet Secretary coordinating ministries and agencies.
Following the meeting with Chief Cabinet Secretary Hayashi, Governor Abbott met with Japan’s Minister of Foreign Affairs Yoko Kamikawa. The Governor thanked the Minister for the warm welcome to Japan and promoted Texas as the Best State for Business in the United States.
In the evening, the Governor delivered remarks at a special Texas reception hosted by the U.S. Embassy in Tokyo at the Ambassador’s residence. Addressing the crowd of Japanese business leaders and government officials, the Governor noted that Texas and Japan economies are linked by advanced manufacturing industries such as semiconductors, automotive manufacturing, aircraft, and aerospace. Governor Abbott also outlined his productive economic development mission, mentioning how Texas and Japan will continue to increase their economic ties in critical areas, including medicine, life sciences, biotechnology, energy, and innovation.
The Governor was joined at the fifth day of events by First Lady Cecilia Abbott, Secretary of State Jane Nelson, the Governor’s Economic Development & Tourism Office Executive Director Adriana Cruz, Texas Economic Development Corporation Board Secretary Adrian Cannady, Texas Economic Development Corporation President & CEO Aaron Demerson, and the Texas delegation. The goal of the trip is to deepen the already-strong economic and cultural partnerships with Texas, encourage expanded trade in critical industries, and attract new business investments to Texas.
The following events are scheduled for the sixth and final day of the economic development mission in Japan:
- Meeting with Governor Yuriko Koike with the Tokyo Metropolitan Government
- Statement of Mutual Cooperation (SMC) signing with Governor of Aichi Prefecture Hideaki Ohmura
Japan leads all nations for the number of jobs created by foreign direct investment projects in Texas over the last decade. Over the past 10 full years through 2023, companies from Japan have invested $10.87 billion in 129 projects creating more than 20,000 jobs in Texas. In the first five months of 2024, Japanese companies have invested $1.47 billion in six additional projects expected to create more than 520 new jobs in Texas. Texas trade with Japan totaled $31.2 billion in 2023, making Japan the fifth-largest total trade partner with Texas.
The trip is sponsored and paid for by the Texas Economic Development Corporation, an independently funded and operated 501(c)(3) nonprofit organization responsible for marketing and promoting Texas as a premier business location. Along with the Governor’s Economic Development & Tourism Office, these two organizations are the cornerstone of Governor Abbott’s economic development agenda to build a bigger, better Texas.
