The Japan External Trade Organization (JETRO) and the Cool Japan Organization (Cool Japan) announced on March 13 that they had signed a memorandum of understanding regarding a business partnership.

The collaboration between JETRO, which has overseas business support know-how and offices in 37 locations in Japan and 73 overseas, and Cool Japan Organization, which provides risk capital for commercializing Japanese content, fashion, food, and other products, aims to promote effective communication, industrial development, and the development of overseas demand.

The business partnership will enable (1) mutual introductions of the two organizations to businesses and other parties, (2) mutual cooperation in each organization's support activities for Japanese companies and business development, (3) cooperation in research and information gathering, and (4) holding meetings for the two organizations to exchange opinions. JETRO Chairman Ishige Hiroyuki said, "There is a high level of interest overseas in Japanese content and food. In fashion, materials are strong, and fashion itself is also gaining recognition. Each of these is appreciated and there is interest. We would like to cooperate so that the appeal of Japan can be communicated in its entirety." Cool Japan Organization President Ota Nobuyuki said, "We would like to enlist JETRO's help to work on three genres: content, lifestyle including fashion, and food and services, based on the three pillars of platform development, supply chains, and from the regions to the world. We would like to get the whole of Japan involved, regardless of ministry, in order to communicate the great things about Japan to the world. We will likely have opportunities for partnerships in the future. We hope to make an announcement within the next few months regarding the creation of bases such as fashion buildings and malls."