The subject symposium was held under the sponsorship of Engineering and Technology Management (E&TM) Group of ASME from November 5 to 8, 2000 at International Mechanical Engineering Congress and Exposition (IMECE) 2000 (with its congress highlight topic "Beyond the Traditional Boundaries") in Orlando, Florida. The symposium included speakers and chairs from Japan, Germany, Holland and Norway, as well as other international participants. The current paper highlights and summarizes key issues discussed at this symposium, and refers to prospective collaboration between ASME and JSME.