Today's Law As Amended

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AB-475 GO-Biz: trade and investment desk: Japan.(2021-2022)

As Amends the Law Today

 The Legislature finds and declares all of the following:
(a) California continues to be one of the top exporting states to Japan, accounting for over 10.9 percent of total United States exports in 2020.
(b) Japan has remained California’s fourth largest export market since 2010.
(c) California exports to Japan totaled $10,600,000,000 in 2020.
(d) Japan ranks first in all aspects of direct foreign investments to southern California.
(e) California is currently the top importing state in the United States for products from Japan. In addition, California buys more products from Japan than any foreign country besides China and Mexico.
(f) California and Japan signed in 2014, and concurred to renew in 2016, a memorandum of cooperation to coordinate efforts on, among other things, climate change, zero-emission vehicles, and trade and investment.

SEC. 2.

 Section 13996.45 is added to the Government Code, to read:

 (a) No later than January 1, 2024, upon appropriation of sufficient funds for this purpose, the Governor’s Office of Business and Economic Development shall establish under its jurisdiction an international trade and investment desk in Tokyo, Japan. The trade and investment desk shall have those powers and duties prescribed by the director to promote and facilitate the state’s international trade activities.
(b) The Japan trade and investment desk established pursuant to this section shall do all of the following:
(1) Facilitate access to educational exchange programs between California and Japan.
(2) Promote the export of California goods and services into Japan.
(3) Encourage and facilitate capital investment from Japan into California.
(c) The Governor’s Office of Business and Economic Development may contract with the Japan External Trade Organization (JETRO), consistent with subdivision (f) of Section 13996.41, to provide office and meeting space for the Japan trade and investment desk to reduce costs to the state.
(d) The director shall include information regarding the Japan trade and investment desk in the reports prepared and transmitted pursuant to Section 13996.65.