Japan, EU Discuss Cooperation in High-Level Economic Dialogue

Brussels, May 7 (Jiji Press)–Japan and the European Union held a ministerial economic dialogue in Brussels on Thursday to discuss enhancing cooperation on economic security and critical minerals. Trade minister Ryosei Akazawa and State Minister for Foreign Affairs Iwao Horii represented Tokyo, while European Commission Executive Vice-President for Prosperity and Industrial Strategy Stephane Sejourne and European Commissioner for Trade and Economic Security Maros Sefcovic participated from the EU. The dialogue is also aimed at confirming progress in cooperation based on the Japan-EU Competitiveness Alliance, an initiative announced during a bilateral summit last July to promote collaboration in areas such as critical minerals, batteries and the defense industry. The two sides will exchange views on reducing reliance on China and enhancing supply chain resilience. Akazawa is expected to urge the EU to treat products made in Japan and the European bloc equally, amid concern among Japanese government officials over the Industrial Accelerator Act, an EU bill proposed in March. At a press conference in Paris on Wednesday, the Japanese trade minister voiced concern that the bill’s mechanism favoring products manufactured in the EU “could undermine Japan-EU industrial cooperation.” END [Copyright The Jiji Press, Ltd.]