Asia has designs on the blossoming Dallas-Fort Worth economy, with Japan positioning itself to be the tip of the spear. <\/p>\n
After a seven-year hiatus, the U.S.-Japan Council on Monday unveiled the return of the Japan-Texas Economic Summit, which will take place in Arlington next May 11-13. <\/p>\n
Last held in Houston in 2018,<\/a> the U.S.-Japan Council was designed to unite leaders across business, investment and politics, and to foster closer ties between the U.S. and the world\u2019s fourth-largest economy.<\/a> <\/p>\n \u201cTexas is a very business-friendly environment. When you show up here, the red carpet \u2026 opens up,\u201d Mark Okada, a Dallas-area investor and the council\u2019s vice chair, told The Dallas Morning News in an interview. <\/p>\n Business Briefing<\/p>\n \u201cWe\u2019re reestablishing [the Texas summit] now because I think it\u2019s even more timely and more relevant from an impact standpoint, and just bringing people together is how business is done,\u201d said Okada, who is also the CEO of Sycamore Tree Capital Partners<\/a>.<\/p>\n Economic ties between the Lone Star State and the Land of the Rising Sun are long and deeply entrenched. <\/p>\n Texas Gov. Greg Abbott\u2019s office<\/a> cites Japanese direct investment as the top generator of new jobs in the state, with over $31 billion in trade flowing between Texas and Japan annually. <\/p>\n Auto giant Toyota and tech company NTT Data have major presences in Plano, while other major Japanese brands are heavily invested in the D-FW area. Overall, well over 300 companies have taken up residence across Texas, providing over 75,000 jobs, Japan External Trade Organization data shows<\/a>. <\/p>\n The U.S.-Japan Council announcement coincides with a new U.S.-Japan bilateral trade agreement that is expected to boost Japanese investment and trade flows to America by at least $500 billion<\/a>, according to the White House \u2014 likely deepening the links between Texas and Asia-Pacific, which has a strong and growing regional presence.<\/p>\n Regardless of how the U.S-Japanese deal turns out, \u201cthe boots on the ground are vibrant and active, and they need to organize themselves for a better economic outlook and activity. That is really kind of the goal of all the trade negotiations,\u201d Okada said.<\/p>\n \u201cThis is not about reducing trade and activity with Japan. It\u2019s about increasing it,\u201d he said. \u201cAnd I think Texas is a perfect historical example of that, and will be a great sort of recipient of the growth of that going forward.\u201d<\/p>\n Between both countries, the U.S.-Japan Council\u2019s 1000-plus members are spread out across 12 regions. The planned confab in Arlington \u2014 which will partner with the organization \u2014 is the latest example of Asia-based companies tapping into North Texas\u2019 burgeoning growth.<\/p>\n \u201cWhen I moved here, this is obviously one of the biggest things that I latched on to as a concrete initiative that I felt was the highest priority for our respective communities,\u201d said Steve Sakanashi, a Dallas-based consultant who will chair next year\u2019s summit. <\/p>\n Japan isn\u2019t the only Pacific-region country looking to deepen its D-FW footprint. In a nod to the region\u2019s growing importance and rising demand for travel to Asia, Cathay Pacific announced its first direct flight between DFW International and Hong Kong<\/a>, and Australia-based Qantas has increased daily service<\/a> between DFW and Down Under. <\/p>\n Next up is the Taiwan Expo, the flagship conference sponsored by the Taiwan External Trade Development Council, which will be Aug. 14-16 in Dallas<\/a>. <\/p>\n The development council recently opened its fifth satellite office in Dallas, and Texas created its own operation<\/a> designed to compete for more Taiwanese investment.<\/p>\n As the artificial intelligence boom expands in scope and size, Taiwan is looking to cement its status as a U.S. trade partner and strategic contributor, especially with countless data centers already taking root in the region, James Huang, the development council\u2019s chairman, told The News in a recent interview.<\/p>\n \u201cWe view Taiwan\u2019s role in the Dallas and Texas economy as increasingly strategic, dynamic, and deeply integrated across high-impact sectors,\u201d Huang explained.<\/p>\n