Donohue Visits Japan to Underscore Support for Citizens, Businesses of World’s 3rd Largest Economy

‘American Companies will Remain Fully Engaged and Confident in Japan’s Recovery,’ U.S. Chamber President to tell Leaders

WASHINGTON, D.C.—U.S. Chamber of Commerce President and CEO Thomas J. Donohue will travel to Japan today to meet with senior American and Japanese business leaders and diplomats – including Secretary of State Hillary Clinton – to hear firsthand reports on the country’s reconstruction efforts and express admiration and confidence in restoring this important country to its full vitality.

“We are here for one reason and one reason only: To stand in solidarity with our friends and economic partners, the people and businesses of Japan,” Donohue will tell business leaders during a breakfast at the American Chamber of Commerce in Japan (ACCJ). “This tremendous tragedy has been a powerful reminder of the strength, resilience, and cooperative spirit of the Japanese people.”

While in Tokyo for two days, Donohue will meet with the Japanese business community and American executives based in Japan to hear about the state of the economy and recovery efforts. During a meeting with Secretary Clinton and Japanese officials, he will explore ways for the governments and private sector to work together on the challenges presented by the recent disaster.

Japan was the 4th largest U.S. trading partner in 2010. American companies have invested more than $100 billion in Japan and directly employ more than 550,000 Japanese. At the same time, Japanese companies directly support more than 650,000 American jobs and many more jobs indirectly. Japan’s economy provides critical components and services to the U.S. and global supply chain.

Sales by the Japanese affiliates of U.S. multinationals have topped $300 billion in recent years — twice the sales by Chinese affiliates of U.S. multinationals. This figure is topped only by Britain, Canada, and Germany.

“We are encouraging American companies to stay fully engaged in the world’s third largest economy and to work with their Japanese partners to restore this important market to its full vitality,” Donohue will say. “The disaster may have damaged infrastructure, and disrupted supply chains, but it has not changed the fundamental strengths of the Japanese economy.”

Donohue will also offer his condolences to Japan for the tragic loss of life and ongoing suffering, and note the strong humanitarian response of American business. Since the earthquake and tsunami first struck, there have been more than $277 million in global business contributions toward the relief and recovery efforts, according to the Chamber’s Business Civic Leadership Center.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

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