Japan, Australia Show Strong Concerns over Export Restrictions

Canberra, May 4 (Jiji Press)–Japanese Prime Minister Sanae Takaichi and her Australian counterpart, Anthony Albanese, on Monday expressed “strong concerns” over export restrictions on key minerals, with China’s economic coercion in mind. “We express our strong concerns over all forms of economic coercion, and the use of nonmarket policies and practices that are leading to harmful overcapacity and market distortions, as well as export restrictions, particularly on critical minerals, that could have a significant negative impact on global supply chains,” the two leaders said in a joint declaration on economic security cooperation. At a meeting with Albanese in the Australian capital of Canberra, Takaichi expressed hope that their countries “will take the lead toward regional peace under the updated free and open Indo-Pacific vision,” which she recently unveiled. Albanese said that it is important for both countries to strive to bring peace, stability and security to the region. In the joint declaration, the two leaders underscored their countries’ commitment to “sharing information and consulting with each other on economic security contingencies.” Describing resilient supply chains as “central to our economic security,” the statement said that the two countries will work together to secure key goods, such as important minerals and food. Japan and Australia also released joint documents on cooperation in such areas as critical minerals, energy security, defense and security, and cybersecurity. In the statement on critical minerals, the two leaders called the resources “a core pillar” of their countries’ economic security relationship, listing six projects that are given priority to diversify supply chains. The statement on energy included their pledge to “support the flow of essential energy goods, including liquefied natural gas, coal and liquid fuels between our two countries.” In the statement on defense, the two leaders confirmed joint development of frigates for the Australian navy based on Japan’s upgraded Mogami-class frigate, as well as stronger collaboration on advanced weapons, emerging technologies and intelligence. Albanese invited Takaichi to Australia, as this year marks the 50th anniversary of the two countries’ signing of a basic treaty of friendship and cooperation. END [Copyright The Jiji Press, Ltd.]