Finance Secretary to Promote Scottish Businesses in Japan and South Korea

Finance Secretary John Swinney will next week visit Japan and South Korea to promote Scottish businesses.

Mr Swinney will visit Tokyo, Osaka, Pusan and Seoul where he will showcase the innovation and skills of Scotland’s energy sector and promote Scotland’s food and drink.

He will use his visit as a chance to meet with representatives from Japanese and Korean businesses and with Government Ministers to stress Scotland’s attractiveness as a place to invest and do business.

Last month, Mr Swinney welcomed a deal between the Orkney based European Marine Energy Centre (EMEC) and the Ocean Energy Association of Japan (OEAJ) to develop Japan’s first marine energy test centre.

Scotland already enjoys successful commercial relationships in the energy sector with major Japanese and Korean firms such as Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Doosan and Samsung.

There are currently 65 Japanese companies that have invested in Scotland resulting in over 4,000 jobs, and four Korean companies, including Samsung Heavy Industries which announced in January that it is to base its first European offshore wind project in Fife in a £100 million inward investment venture expected to create more than 500 new jobs in Scotland.

 Finance Secretary John Swinney said:

 “I am delighted to be visiting Japan and South Korea to promote Scottish businesses in these important markets.

 “Scotland’s international standing and global leadership in fields such as life sciences and marine renewables is already attracting significant investment from Japanese and Korean businesses. We will continue to work closely with current and potential investors to develop further opportunities to secure investment and jobs in Scotland.

 “In recent years, we have seen many excellent examples of Scottish companies, universities and organisations successfully pursuing the development of collaborations in trade, investment and education. Many Scottish companies are already doing business in Japan and Korea and this visit will facilitate useful introductions and business opportunities in this dynamic economic area.

 “It is vital that we sustain and seek to build upon the international opportunities for Scottish businesses. The Scottish Government continues to do all it can, at home and abroad, to encourage economic recovery and to deal effectively with the significant legacy of the global economic downturn.

 “The Scottish Government, Scottish Enterprise and Scottish Development International are working tirelessly to secure new investment opportunities to Scotland and to encourage more of our growing companies to become active exporters.”

 Anne MacColl chief executive, Scottish Development International, said: ” We believe that Japan and Korea offer huge opportunities for Scotland – particularly in renewable energy, life sciences, financial services and food and drink.

 “Over the last two years, we’ve seen a number of high-profile inward investment announcements in Scotland from both major Japanese and Korean companies including Mitsubishi Heavy Industries, Toshiba Medical Systems, Kawasaki Heavy Industries and Samsung Heavy Industries. Just as significantly, Scottish exports to Japan totalled £295 million in 2010 and in 2011 a landmark EU / Korean Free Trade Agreement reduced tariffs on 97 per cent of all goods and services, making South Korea an increasingly appealing market for Scottish companies

 “This creates significant opportunities for ambitious Scottish companies that proactively want to take advantage of the changing patterns of international trade. Scottish Development International is committed to strengthening our relationship with Japan and Korea to make it easier for home-grown companies to trade there and just as importantly, to highlight why Scotland is the ideal place to invest and do business.”

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Offshore WIND staff, April 13, 2012; Image: scotland