6 May (BNS)

Enterprise Estonia and the Innovation and Business Centre of the Tallinn University of Technology will organise a visit by an Estonian economic delegation to Japan to introduce Estonia as a breeding ground for innovative companies and to sign a memorandum of understanding with a Japanese bank.

In the course of the visit Enterprise Estonia will sign a memorandum of understanding with Mitsubishi UFJ Financial Group (MUFG), the world's largest bank, to launch exchanges of investment-related information.

"This is an important step in the development of business between Japan and Estonia," said Kristi Tiivas, director of the investment and trade development division of Enterprise Estonia. "Enterprise Estonia's representative in Tokyo, Kosaku Yamaguchi, has contributed a great deal of effort to reach this meaningful step, which may bring real benefits to both sides," she added.

During the trip from 7-10 May, the delegation is scheduled to have meetings and seminars at Japanese businesses and universities, including Mitsubishi, Expedia, and Tokyo Denki University.

In addition, Enterprise Estonia will hold an IT seminar for local small and medium-sized enterprises to introduce the good business environment of Estonia. Estonian innovation success stories such as Transferwise and GuardTime will participate in the IT seminar.