Miti

MITI is the acronym of the Japanese Ministry of International Trade and Industry.

Miti may also refer to:

See also

Mitic

Mitić is a Serbian surname. Notable people with the surname include:

See also

Ministry of International Trade and Industry

The Ministry of International Trade and Industry (通商産業省 Tsūshō-sangyō-shō or MITI) was one of the most powerful agencies of the Government of Japan. At the height of its influence, it effectively ran much of Japanese industrial policy, funding research and directing investment. In 2001, its role was taken over by the newly created Ministry of Economy, Trade and Industry (METI).

History

MITI was created with the split of the Ministry of Commerce and Industry in May 1949 and given the mission for coordinating international trade policy with other groups, such as the Bank of Japan, the Economic planning Agency, and the various commerce-related cabinet ministries. At the time it was created, Japan was still recovering from the economic disaster of World War II. With inflation rising and productivity failing to keep up, the government sought a better mechanism for reviving the Japanese economy.

MITI has been responsible not only in the areas of exports and imports but also for all domestic industries and businesses not specifically covered by other ministries in the areas of investment in plant and equipment, pollution control, energy and power, some aspects of foreign economic assistance, and consumer complaints. This span has allowed MITI to integrate conflicting policies, such as those on pollution control and export competitiveness, to minimize damage to export industries.