EBC Newsletter – March 26, 2025

On 19 March, the European Commission and the High Representative for Foreign Affairs and Security Policy have released the “Joint White Paper for European Defence Readiness 2030” outlining a comprehensive strategy to bolster Europe’s defence readiness by 2030. Recognizing escalating threats and geopolitical shifts, the document emphasizes the necessity for increased investment in defence capabilities, technological advancements, and industrial collaboration among EU Member States. Key proposals include a €150 billion defence fund (Security and Action for Europe – SAFE) aimed at enhancing military capabilities and reducing reliance on non-EU defence suppliers. The White Paper also advocates for the establishment of Defence Projects of Common European Interest to address critical capability gaps in areas such as missile defence, drones, and cyber warfare. This strategic initiative underscores the EU’s commitment to ensuring peace, security, and the ability to independently determine its future in an evolving global landscape.

The latest “Doing Business in Cyprus (Japan Edition)” guide offers key insights into investment opportunities, business regulations, and trade relations between Cyprus and Japan. This comprehensive resource aims to support businesses looking to expand or establish operations in Cyprus.

The guide is available for download

Job Opportunity: Assistant Commercial Counsellor – Cyprus Embassy in Japan

The Embassy of the Republic of Cyprus in Japan is seeking a dynamic professional for the position of Assistant Commercial Counsellor at the Cyprus Trade Centre. This full-time role involves supporting trade promotion activities, organising business events, conducting market research, and liaising with key stakeholders to strengthen Cyprus-Japan economic ties. Candidates must have a relevant university degree, strong communication skills, and proficiency in Japanese and English. Applications are open until 6 April. For more details, contact [email protected].

The EU-Japan Centre for Industrial Cooperation is recruiting a Coordinator for Training Programmes and Business Support.   Interested candidates are invited to submit an application, latest by 09h00 AM on Monday 3 March 2025 by sending CV/ resume with motivation letter in English and Japanese to [email protected] or by post to EU-Japan Centre for Industrial Cooperation, Shirokane-Takanawa Station Bldg. 4F, 1-27-6 Shirokane, Minato-ku, 〒108-0072, Tokyo, Japan.

The Japanese Government Procurement Seminar for Fiscal Year 2025 will be held online on 15 April (Tuesday), in Japanese with simultaneous translation into English. This seminar provides valuable insights into Japan’s government procurement processes and opportunities for foreign businesses. Interested participants are encouraged to register by submitting the required information before 8 April (Tuesday).

Valerie Moschetti
EBC Chief Operating Officer

• The European Union’s plans to relax sustainability reporting rules will spare many Japanese companies doing business in the bloc from the environmental disclosures. The European Commission said Feb. 26 that it would simplify the Corporate Sustainability Reporting Directive (CSRD). The amendments take effect once they attain passage through the European Parliament and the European Council. (Nikkei Asia)
• Ten major Japanese electronics groups including Panasonic Holdings and NEC will create a training organization this year to teach small and midsize suppliers in the industry how to prevent human rights violations in their supply chains. The Sustainable Procurement Partnership will be established within a trade group, the Japan Electronics and Information Technology Industries Association (JEITA). Fujitsu and Mitsubishi Electric are among the other planned participants. (Nikkei Asia)
• Promissory notes and checks, which have been widely used by companies to make payments between themselves, are likely to be discontinued at the end of fiscal 2026, The Yomiuri Shimbun has learned.  This is because the Japanese Bankers Association (JBA) decided to close down its electronic clearing system for promissory notes and checks in April 2027. (The Japan News)

If you are interested in joining a committee meeting, please contact the EBC to confirm the time and meeting place.