Japan, Saudi Arabia to Set Up Energy Security Task Force

Brussels, May 7 (Jiji Press)–Japan and Saudi Arabia agreed Thursday to set up a task force to discuss issues such as stable crude oil supplies amid tensions in the Middle East. The agreement was reached at an online meeting between Japanese Minister of Economy, Trade and Industry Ryosei Akazawa and Saudi Energy Minister Abdulaziz bin Salman Al-Saud. Discussions at the task force are slated to start early next week. The launch of the task force is part of the efforts to beef up energy security cooperation between Japan and Saudi Arabia in the wake of the Middle East crisis. Earlier in the day, Akazawa attended a high-level economic dialogue with the European Union in Brussels. Japan was also represented by State Minister for Foreign Affairs Iwao Horii. From the EU, Stephane Sejourne, European Commission executive vice president for prosperity and industrial strategy, and Maros Sefcovic, a member of the commission in charge of trade and economic security, attended the meeting. The participants discussed the Middle East situation and adopted a joint statement stressing the importance of a stable and highly transparent energy market. They also agreed on the need to secure supply chains including safe ship navigation and the protection of maritime transportation routes and related infrastructure. In addition, they shared concerns over economic coercion and unfair export controls while confirming their intention to further strengthen Japan-EU cooperation in the fields of critical minerals, batteries, defense, space and clean energy. Akazawa also attended an online meeting on critical minerals among the Group of Seven major industrialized nations. This was the first meeting on the topic among the G7 members–Britain, Canada, France, Germany, Italy, Japan and the United States plus the European Union. Akazawa told a press conference that he conveyed to the EU side Japan’s concern over the region’s industrial accelerator act, under which electric vehicles and other goods from Japan may be excluded from the EU’s list of products eligible for public aid. The act, which gives preferential treatment to items produced in the EU, was announced in March. The minister said that Japan and the EU agreed to continue talks to find a solution regarding the issue. END [Copyright The Jiji Press, Ltd.]