Officials expect a new pact with a Japanese trade organization will strengthen the growing economic relationship between the Bay State and the Asian industrial giant.
"We've already seen a trend of Japanese life science companies choosing Massachusetts," said Angus McQuilken, a spokesman for the Massachusetts Life Sciences Center. "We expect to see that trend accelerate."
Gov. Deval Patrick yesterday signed an agreement with the Japan External Trade Organization to formalize a partnership "facilitating business and investment opportunities," according to the agreement.
"Japan is important to us," Patrick said. "(This is) an umbrella agreement, we will build out from here."
The state and the trade group began working on the Memorandum of Understanding after Patrick's economic development trade mission to Japan in December.
"Today is a new beginning in the history between Massachusetts and Japan," said Hiroyuki Ishige, chairman of JETRO.
Patrick said there are roughly 130 Japanese companies doing business in Massachusetts, which account for 10,000 jobs.
"That is important economic prosperity for us," Patrick said.
Japanese life sciences companies MBL International and Scivax will open a new lab today in Woburn, McQuilken said. The agreement is expected to have an impact throughout the Bay State business community.
David Brewster, president of energy intelligence software provider EnerNOC, said: "I firmly believe that the MOU that (was) signed will continue to foster collaboration and will bolster innovation between these two economies."
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