ANNAPOLIS, MD—Governor Larry Hogan on Monday welcomed Japanese Ambassador to the United States Koji Tomita to the State House, where they renewed the Memorandum of Cooperation (MOC) between the State of Maryland and the Government of Japan to further bolster economic and trade relations.

The agreement will bring more Japanese investment to Maryland, and expand collaboration in a range of critical industries—including energy, high-speed rail development and passenger rail services, life sciences and biotechnology, and digital innovation such as quantum and artificial intelligence technologies.

“This is the realization of years of effort by our administration to make Japan one of Maryland’s fastest growing international partners and I want to express my gratitude to Prime Minister Kishida for his leadership which has made the renewal of this agreement possible,” said Governor Hogan. “It has never been more important for allies who support freedom and free markets to stand together shoulder to shoulder to work toward peace and prosperity, and we are so excited for what the future holds for the continued success and prosperity of the Maryland-Japan relationship.”

Monday’s signing ceremony follows the governor’s recent trade mission to Korea and Japan, which paved the way for additional foreign investment in the state—including the addition of the Kanagawa Science Park as a partner in Maryland’s Global Gateway initiative, which connects international businesses with local incubators and accelerators. The governor also joined the governor of Kanagawa Prefecture in celebrating the 40th anniversary of the Sister State relationship between Kanagawa and Maryland.

In Japan, the governor met with a number of business leaders, including the executive chairman of Hitachi, which is building a new $70 million manufacturing plant in Hagerstown to make the next generation of Metro railcars.

Each year, over $4 billion in total commercial transactions take place between Maryland and Japan. Japan is one of Maryland’s top five target markets for investment attraction. Japanese manufacturing companies provide over 5,000 Maryland jobs, and major Japanese companies with operations in the state include A&G Pharmaceuticals, Honda, Toyota, Fuji, and Mitsubishi Heavy Industries.

The renewed Memorandum of Cooperation will continue for four years.