During the mission, local companies and organizations will promote key San Diego industries, establish business relationships and explore opportunities for local companies to tap into Japan’s expertise in urban planning and life sciences.
“In today’s global economy, San Diego’s success depends on fostering international relationships that bring investment and jobs to our region,” said Peters, who represents the 52nd District. “Japan shares our commitment to life sciences and our startup culture, creating opportunities for collaboration every day. Strengthening our partnership will foster innovation and economic growth in both our regions.”
Japan is the world’s third largest economy, and one of San Diego’s biggest trading partners. Nearly 12,000 San Diegans are employed by Japanese firms such as Sony, Takeda and Kyocera. Over the past three years there was more than $3.4 billion in trade between San Diego and Japan.
“Ever since the launch of Japan Airlines‘ direct service from San Diego, we have seen an influx in foreign investment from the Japanese market,” said Nikia Clarke, executive director of the World Trade Center and vice president of economic development at San Diego Regional Economic Development Corporation. “As the rhetoric around global engagement shifts, now, more than ever, it is essential that we reinforce San Diego’s brand so it is top of mind for investors and companies.”
The 31-member delegation includes representatives from Northrop Grumman, Qualcomm, Takeda California, the Port of San Diego, the San Diego County Regional Airport Authority and local universities.
Peters and the World Trade Center led a trade mission to London in 2017 that resulted in a major expansion by Forge Therapeutics.