As part of the Asian Trade Initiatives that develops and expands trade and cultural linkages with Asia, the ITC Board of Directors voted to approve a trade mission to Japan and Taiwan. The mission will take place May 24th - June 4th, 2009.

Japan is the 2nd largest world economy, and ranks 4th for total merchandise exports and 5th for imports. Trade with South Florida is over $1.15 billion and ranks 22nd in overall trade with our region. Imports from Japan into Miami totaled $753 million in 2007, and top categories include bulldozers, transmission apparatus for radio telephone, printing machines, prepared, unrecorded media, and sewing machines. Exports from Miami into Japan in 2007 totaled $397 million, and top exports include heterocyclic compounds, medicaments, citrus fruit, turbojets and other turbines, and parts of aircraft, spacecraft and balloons. (Jerry Haar, Ph.D., Country Assessments for the Asian Geographic Region. Florida International University: College of Business Administration, July & August 2008. )

Trade with Taiwan totals over $425 billion and ranks 16th in the world. Top industries for the country include electronics, petroleum refining, armaments, chemicals, textiles, iron and steel, machinery, cement, food processing, vehicles, consumer products, and pharmaceuticals. As Taiwan shifts its focus away from older technologies, they have identified biotechnology, optoelectonics, and nanotechnology as the next priorities. Taiwan ranks 37th for total merchandise trade with Florida, and in 2007 Taiwan was Miami-Dade County's 31st trading partner. Total trade with Taiwan was $532,010,248 with exports of $54,010,737, and imports of $477,999,511. Miami-Dade has enjoyed a Sister City relationship with Taipei County Taiwan since 1989.

After the ITC board voted to approve the country selection, ITC staff met with Japanese and Taiwanese authorities to narrow the focus of the mission and staff selected Osaka City, Japan and Taipei, Taiwan because these cities offered the best prospects for a successful trade mission. Osaka City is the 2nd most populous in Japan behind Tokyo, and its top three economies are commerce, services, and manufacturing. These sectors represent 18.9% of Japan's gross domestic product. In Taipei, traditional industries have given way to new capital-intensive operations, commercial districts, and diversified industrial developments. Most of Taiwan's factories producing textiles and wearing apparel are located in Taipei, as well as the manufacture of electronic products and components, electrical machinery and equipment, printed materials, precision equipment, and foods and beverages. Services related to commerce, transportation, and banking has become increasingly important.

Interested participants for this trade mission should contact Desmond Alufohai, ITC Senior Trade Specialist, at 305-3526 or alufoha@miamidade.gov

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