Business delegation in East Asia on promotional tour for Saxony

With a delegation of entrepreneurs and scientists, Economics Minister Martin Dulig (SPD) will be going on a promotional tour for Saxony's economy and research in East Asia next week. The appointments in Japan and South Korea will focus on cooperation in the field of microelectronics, alternative drive technologies and batteries, as well as new supply chains to reduce dependencies. In the current geopolitical situation, Saxony needs to work more closely with countries that "share our democratic values and views" and face similar challenges, Dulig said in Dresden, according to a statement Friday. It is a matter of climate change, renewable energies or securing the need for skilled workers and labor.

According to the information, until September 20, the state will advertise in Japan and South Korea with competencies in the field of microelectronics, alternative drive technologies and batteries, as well as for scientific cooperation. Political talks are also planned. "Especially in the Asian region, we must position ourselves more broadly and diversify foreign economic relations," Dulig said.

According to the Saxony Economic Development Corporation, Japanese and South Korean companies are important foreign investors in the Free State. In 2022, goods worth 851 million euros were exported to Japan, a good quarter more than the year before. At 1.16 million euros and an increase of almost a third over the previous year, exports to South Korea were also at a new record level. Products exported were mainly electrical engineering, automotive and mechanical engineering.