Tokyo, July 11, 2003 - (JCN Newswire) - Representatives of the American Chamber of Commerce in Japan (ACCJ) will visit Washington, D.C., July 15-17 on the Chamber's annual D.C. Doorknock. The delegation of 12 ACCJ members, led by President Lance E. Lee, will meet with key representatives in the Bush administration and Congress to stress the importance of the U.S.-Japan relationship.
This year's D.C. Doorknock will focus on what is sometimes called "Japan passing"-the recent tendency to focus on other "Hot Spot" regions such as the Middle East or China. The ACCJ delegation will emphasize that ignoring Japan is not a viable option. The country still is the world's second-largest economy, America's largest overseas trading partner, a growing investment destination and a vital strategic ally.
The ACCJ delegation will point out to U.S. lawmakers that:
* Japan is the second-largest economy in the world and generates 70 percent of Asia's total GDP
* The country imports $60 billion in U.S. exports
* Americans now own as much as nearly 50% of the shares of Canon, Honda, Sony, Orix, Yamanouchi Pharmaceuticals, and Yamada Denki;
* Billions of dollars have been invested by companies such as AFLAC, AIG, CB Richard Ellis, Citigroup, Daimler Chrysler, Ford, GE/GE Capital, General
Motors, Goldman Sachs, Lehman Brothers, Merrill Lynch, Morgan Stanley, Prudential, Ripplewood, Starwood;
* Retail outlets are flourishing, such as Costco, Office Depot; Starbucks, Toys 'R' Us (the largest in Japan) and GAP,
The ACCJ will also express its support for accelerating economic reform and the Koizumi Cabinet's target of doubling the stock of foreign direct investment into Japan by 2008. The Japanese M&A market is still in its early stages of growth, and U.S. companies view this as a good opportunity to take advantage of Japan's highly educated and hardworking population, recent and on-going market reforms and long term growth potential.
The ACCJ conducts two annual "Doorknocks", one in Tokyo to talk with Japanese Diet members and one in Washington D.C. to talk with U.S. political leaders. While trade issues remain important, this year's theme reflects the commitment of American business to the growth and prosperity of Japan.
About ACCJ
The ACCJ, established in 1948 by representatives of 40 American firms, has worked on behalf of member companies in the Japanese market for the past 55 years. The ACCJ today represents over 3200 individual members and more than 1400 companies in Japan, and has offices in Tokyo, Osaka, and Nagoya, covering Japan's three most important economic regions. The ACCJ promotes commerce between the United States and Japan, supports measures to benefit and protect the interests of U.S. companies, and presents a variety of programs that keep Chamber members abreast of current business practices and trends.
Contact:
ACCJ
Emi Ogawa, Media Relations Officer
eogawa@accj.or.jp
+81-3-3433-6542
July 11, 2003
Source: ACCJ
ACCJ
From the Japan Corporate News Network
http://www.japancorp.net
Topic: General Announcement
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