Deloitte coaches managers with Romanian companies interested in the Japanese and Korean markets Deloitte implements in Romania the ‘Executive Training Programme (ETP)’, an European Commission-funded initiative that provides European, subsequently Romanian companies with the necessary business, language and cultural training to succeed in the Japanese and Korean markets. The scope of the programme is to strengthen and develop the activity of Romanian companies in the two Asian countries, providing a 45-week training and a scholarship for executives. The programme is structured in yearly cycles until 2015. The application deadline for the first cycle is May 31, 2012. New export opportunities worth 2 billion Euro a year by 2020 could emerge for Romanian companies trading with Japan and Korea, according to a report conducted on behalf of the European Commission by economist Ronan Lyons of Oxford University. The research report highlights opportunities for particular sectors in Japan, such as Electronics, Transport equipment, Constructions, and Healthcare, as well as, Environment, Green Tech, and Healthcare in Korea. According to the IMF’s World Economic Outlook, Japan’s economy is expected to grow by approximately 18% between 2010 and 2020, while Japanese imports of both goods and services are anticipated to grow by 50% between now and 2016. In turn, Korea‘s economic growth is estimated at 53% between 2010 and 2020, while imports of both goods and services are anticipated to grow by 75% by 2016. “The Executive Training Programme is a great opportunity for Romanian companies to better understand business practices in Japan and Korea, two of the largest and fastest-growing markets in the world, to overcome language and cultural barriers to successful trade relations. Executives now have access to a tool that can help them build a network of business contacts overseas, explore new growth opportunities over the coming years, and increase exports to non-EU markets,” explained Alexandru Bernea, consultant with Deloitte Consulting Romania. The ETP involves a three-week intensive training course in the UK, at the School of Oriental and African Studies in London, on the culture, history and civil society of Japan and Korea. This is followed by 30 weeks of business and language training in Japan (at Waseda University in Tokyo) and Korea (at Yonsei University in Seoul) and, finally, 12 weeks of internship with a Japanese or Korean company. Previous internship host companies include Canon, Fujitsu, Honda, Sony and Shiseido in Japan, and GlaxoSmithKline, LG Electronics, Kumho Asiana Airlines and the Samsung Economic Research Institute in Korea. The total duration of the training programme is 45 weeks plus 2 weeks for a final evaluation and graduation ceremony. The next programme cycle begins in November 2012. The European Commission helps Romanian executives by funding the whole training course of 45 weeks and providing a scholarship (2,200 Euro a month for Japan, and 2,000 Euro a month for Korea). Sponsoring companies, meaning employers of selected executives – 45 for ETP in Japan and 15 in Korea – are encouraged to contribute to the living expenses of ETP participants. In order to be selected, both companies and executives must meet the eligibility criteria. They must be citizens of an EU Member State, be employed by a sponsoring company, and have excellent English skills; also, candidates must not have previously participated in the programme and either have an university degree and 3 years of professional experience as an executive or 2 years of higher education and 5 years of professional experience as an executive. Companies must either have exports or investment activities in Japan or Korea; or have plans to develop exports or investments in one of the countries; or provide support to European companies in developing exports or investments there. Also companies have to be EU-headquartered /owned, employ a minimum of 5 people and have an annual turnover of 1 million Euro or more. Moreover, companies must be committed to contributing towards a part of the living expenses of the participant and to maintain the employment link with the participant throughout the programme. The application process has three stages. First, companies need to fill in a form expressing interest, their eligibility thus being evaluated by Deloitte professionals. If they comply with the program’s criteria, they go to the second phase, filling in an application form. The application is evaluated and selected candidates will be invited to an assessment center in Brussels for tests and interviews. The first 2 stages take place online, on www.euetp.eu . Interested companies benefit from Deloitte assistance during the whole application process, as well as for the stages followings the acceptance into the program. The Executive Training Programme (ETP) is a European Commission funded programme that provides European companies with the business, language and cultural training necessary for success in the Japanese and Korean markets. The ETP strengthens the presence of EU companies in Korea and Japan as well as the cultural and business links between those countries and the EU. The way business is done in Japan and Korea is so vastly different to how it is done in Europe that companies and executives doing business there need to be provided with specialist skills and insights necessary to succeed there. Growing the number of EU companies operating in both Japan and Korea is a key strategic imperative for the European Commission. Established in 1979, the ETP is one of the most successful EU programmes in Japan for more than a quarter of a century. Due to the success of the programme in Japan, the European Commission expanded the ETP in 2002 to also cover Korea. In line with the everchanging business environment, the programme curriculum is regularly reviewed and refreshed to ensure the most relevant and beneficial business insights are provided to participants. A number of internationally renowned Universities; School of Oriental and African Studies (SOAS) in London, Waseda University in Tokyo and Yonsei University in Seoul are partners of the programme.