GOVERNOR PHIL BREDESEN CONDUCTS ASIAN TRADE MISSION

October 22 – 31, Governor Phil Bredesen traveled to Japan and Korea for meetings with Asian business and government leaders. The trade mission was a bi-annual trip that has become a cornerstone of the state's international economic development outreach for nearly three decades.

Joining the Governor was more than 50 business executives, local elected officials and community leaders from across the state. Area residents who traveled with the Governor were Birdsong Resort, Marina and Campground and Tennessee River Freshwater Pearl Farm owner, Bob Keast, Camden; Mayor of Nashville Bill Purcell; TVA Chairman Bill Baxter, Knoxville; Jackson-Madison County Chamber of Commerce President Paul Latture, Jackson; West Tennessee Industrial Association (WTIA) Executive Director Mike Philpot, Jackson. Other Administration officials included Matthew Kisber, Commissioner of the State Department of Economic and Community Development (ECD), and Kevin Lavender, Commissioner of the State Department of Financial Institutions.

While in Japan, the Governor met with top executives of Japan's leading corporations, including Bridgestone, Toshiba, Toyota, Brother International and Fuji Photo Film. Bredesen, members of his Administration and business leaders networked with a number of Japanese and U.S. government officials, including Japanese Prime Minister Junichiro Koizumi and U.S. Ambassador Howard Baker.

While there, a number of FAM (familiarization) tours were planned for the group. Keast and others visited the Mikimoto Pearl Island, Toba Bay. Owner of the Tennessee River Freshwater Pearl Farm, Bob Keast, paid a courtesy visit to the like attraction of his business. Mikimoto's pearl farm is the number one attraction in Japan drawing a surplus of 3 million visitors annually.

While in Osaka, the Governor spoke and took part in sessions of the 27th annual Joint Conference of the Japan/U.S. Southeast and the Southeast U.S./Japan Associations. The following is a written statement issued by the SEUS (Southeast United States)-Japan Association regarding forward movement in the relations between the two countries:

The 27th Annual Joint Meeting of the Southeast U.S./Japan Association and the Japan- U.S. Southeast Association was held in Osaka, Japan, at the New Otani Hotel Osaka, from October 26th through October 28th, inclusive. The theme of the meeting was “Moving Forward in Unity”, a sentiment reflected in the friendship and shared resolve that emerged as key elements of the meeting.

The co-chairmen of the meeting were Mr. Taizo Nishimuro, Chairman of Toshiba Corporation and Mullins Riley and Scarborough LLP, Chairman of the SEUS/Japan Association. The meeting was attended by large delegations from both countries: 330 delegates from the seven SEUS states, and 160 Japanese delegates represented business, industry and central and local government.

The meeting was arranged and coordinated by the state of South Carolina on the U.S. side and by Japan's Toshiba Corporation.

The meeting was honored to welcome distinguished guests from the Southeastern states, including The Honorable Mark Sanford, Governor of South Carolina; The Honorable Seth Hammett, Speaker of the House of Alabama; The Honorable Glenda Hood, Secretary of State, Florida; The Honorable Sonny Perdue, Governor of Georgia; The Honorable Jim Fain, Secretary of Commerce for North Carolina; The Honorable Phil Bredesen, Governor of Tennessee; and The Honorable Michael Schewel, Secretary of Commerce and Trade for Virginia.

The meeting also welcomed His Excellency Mr. Shogo Arai, Parliamentary Secretary for Foreign Affairs and Mr. Toshio Dozaki, Deputy Mayor of Osaka City as the guest speakers for the Opening Ceremony.

Plenary Session I was addressed by three keynote speakers. Mr. Yoshihisa Akiyama, Chairman of Kansai Economic Federation and Chairman of Kansai Electric Power Company, introduced Kansai and its economy. Subsequently, Professor Yuji Kishimoto of Clemson University and Professor Motoshige Ito of Tokyo University spoke on different aspects of US-Japanese economic relations.

At the meeting luncheon on Monday, Mr. Alexander Almasov, Consul-General of the United States at Osaka and Kobe, addressed the delegates as the representative of the U.S. government.

The afternoon session of the first day opened with four breakout sessions covering four key topics; (1) Practical Assistance to Existing Japanese Companies; (2) Education, Training and Culture; (3) Trade Opportunities—How to Succeed; and (4) The IT Sectors in Japan and the U.S.: Current Opportunities and Outlook. Participants in each session heard informative speeches before contributing opinions and insights that led to mutual trust and understanding and to ways to reinforce relations between the U.S. and Japan.

The panel session that followed looked at foreign direct investment and such questions as what Japan could learn from the efforts of the seven southeastern states to attract FDI, and how the seven states could continue to attract investment in the future. The first panel session ever to be conducted at the Annual Joint Meeting, was moderated by Mr. Osamu Watanabe, Chairman and CEO of JETRO, and featured four speakers: Mr. Ralph Howard, Chairman, Kleen-Tex Industries, Mr. Minoru Ohnishi, Chairman, Fuji Photo Film Co.,Ltd and Mr. James Roberson, President and CEO, Research Triangle Foundation in North Carolina, Governor Fusae Ohta, Osaka Prefecture and some 35 representatives of Japanese local governments participated in the session.

On October 28th, Plenary Session II featured two distinguished speakers: Mr. Fujio Cho, President of Toyota, who considered “Toyota's U.S. Operation and Challenges.” and The Honorable Hugh K. Leatherman,Sr., the South Carolina State Senate Majority Leader, who spoke on “Managing Globalization” and both speakers drew on personal experience to capture and impress their audiences.

The delegates and participants in the Osaka meeting agreed that mutual understanding and unity on the part of the southeastern U.S. states and Japan continue to be a primary asset for the future success in FDI and business development of both nations. It was also agreed that exchanges like those in this meeting are of great significance in fostering closer, warmer relations between the U.S. and Japan.

The 27th Annual Joint Meeting in Osaka adopted a joint statement and agreed that the 28th Annual Joint Meeting would be held in Atlanta, Georgia on October 10-12th, 2004. The meeting closed on October 28th. 2003.

Following their visit to Japan, the Governor and his Administration officials traveled to Korea where a number of meetings were scheduled with Korean business leaders, trade representatives, and U.S. Ambassador Thomas Hubbard.

Japan is the world's second largest market, with 125 million people. More than 15 percent of the world's economy is in Japan and 25 percent of high tech products are manufactured there.

Japan has been one of the Tennessee's highest export markets, with exports valued at more than $600 million or greater than 5 percent of the state's total exports. Products exported include vehicles, medical instruments, machinery and plastics.

Japan is also a major foreign investor in Tennessee jobs, with more than 150 Japanese operations currently in Tennessee, employing 38,000 Tennesseans through capital investments in excess of $9 billion. Tennessee is the second-highest recipient of jobs from Japan, behind California.

Earlier this year, Governor Bredesen announced a new investment commitment by Toyota of $124 million to build a state-of-the-art plant in Jackson, and a $250 million investment commitment by Nissan to expand production in Smyrna and Decherd creating another 1,500 jobs. Japanese automotive investments in Tennessee over the past 20 years have spurred the growth of automotive-related businesses, which now employ nearly 154,000 Tennesseans, representing 33 percent of the state's manufacturing workforce and 5.7 percent of total state employment. Of the seven southeastern states, Tennessee has accrued 28 percent of Japanese investment and 25 percent of the related jobs for the region.

The Korean Republic was Tennessee's 10th best trading partner with exports valued at more than $230 million or more than 2 percent of the state's total exports.

Tennessee aggressively pursues the re-location of Japanese industry to the state offering more job opportunity to residents. West Tennessee's area goes well represented with known key people to bring the foreign businesses to out volunteer state.

Click HERE for photo highlights