Commerce Secretary Penny Pritzker kicked off a five-day business development mission to Asia in Tokyo this week, her first trade mission since she took the post in June 2013.
In her address to the American Chamber of Commerce of Japan on Tuesday, Pritzker noted the two countriesâ common goal to strengthen business and economic ties.
She also sought to re-iterate the Obama administrationâs commitment to the region and urged businesses to remain supportive of the multi-nation Trans Pacific Partnership.
âAs Americaâs chief commercial advocate, my emphasis is on the economic dimension of [the administrationâs] rebalance⦠[that] involves deepening trade and investment ties with existing partners, especially Japan,â Pritzker said.
âIt also requires working multilaterally to build both the physical and soft infrastructure that is necessary for the growth of Americaâs emerging partners in the 21st century.â
She also outlined the potential economic benefits of the TPP agreement’s conclusion, such as up to billions of dollars in export gains for the two countries and an improved GDP for Japan.
âThe time is now to resolve outstanding issues and reach an ambitious pact that advances our shared vision of more trade, more commerce, and more cooperation throughout the Asia-Pacific,â Pritzker concluded.
The trade mission, which will also take the commerce secretary to Seoul, seeks to increase U.S. exports growth in Japan and South Koreaâs healthcare information technology, regenerative medicine, biotechnology, medical devices and energy sectors.
The delegation includes representatives from 20 American companies with a combined worth of $300 billion in annual sales.