California & Japan Partner to Bolster Economy & Trade

California and Japan Partner to Bolster Economic Relations and Trade, Tackle Climate Change

Partnership will bring more investments from Japan to California, increase information sharing on critical technology and clean energy priorities, and strengthen trade relations

SACRAMENTO, CA (STL.News) Governor Gavin Newsom met with Japanese Ambassador to the U.S. Koji Tomita to strengthen economic cooperation and investment between California and Japan, and build on previous engagement with a framework for how we can tackle climate change and accelerate the transition to clean transportation together.  The signed Memorandum of Cooperation (MOC) covers climate change, trade and investment, renewable energy, energy storage, business exchange, zero-emission vehicles (ZEVs), high-speed rail (HSR) and other passenger rail services, public transportation, and water conservation and management.

This MOC includes a flexible framework between California and Japan in order to focus on two common objectives – strengthening climate-related activities and promoting renewable, clean energy; and deepening our trade and investment relationship, including providing opportunities for business exchange and exploring investments in clean energy vehicles. This MOC builds on the previous version signed in 2014 by Governor Brown.

“California is a driving force for change in this world and we will continue to foster innovation and partnerships that will help tackle the world’s most pressing challenges,” said Governor Newsom.  “We are strengthening our partnership with Japan to tackle climate change, bolster the clean energy economy, and kickstart new investments and trade opportunities between California and Japanese businesses.”

“Eight years ago I was working in Tokyo when the first Memorandum of Cooperation was signed, and it was my hope that the document would serve as a catalyst to expand our partnership through promoting events and business exchanges. Today, it is my great pleasure to be able to renew this document to further strengthen the partnership between California and Japan on climate change, economic and trade relations,” said Ambassador Tomita.

This MOC will allow California and Japan to cooperate on projects, information sharing, research and development, investments, and more in the following areas:  climate change;  trade and investment;  renewable energy;  energy storage; business exchange;  zero-emission vehicles;  high-speed rail and other public transportation services;  and water conservation and management.

A copy of the Memorandum of Cooperation signed today can be found here.