Japan, ASEAN trade ministers agree to pursue stronger economic partnership
MANILA (Kyodo) -- Japan and the Association of Southeast Asian Nations agreed on Sept. 20 at a meeting of their industry and trade ministers to work t
Japan and the Association of Southeast Asian Nations (ASEAN) agreed on September 20 to enhance their economic partnership, according to a Japanese government official. The two sides will reassess the existing pact, taking into account potential supply chain risks and the increasing influence of artificial intelligence, the official stated.
During the meeting in Manila, the countries also addressed measures to guarantee oil supplies, acknowledging the Middle East conflict's potential impact on energy deliveries. Japan pledged its commitment to maintaining oil reserves in ASEAN nations.
Prime Minister Ryosei Akazawa of Japan emphasized the significance of collaboration, stating that in an era of escalating global uncertainty, ASEAN and Japan must unite to transform challenges into opportunities. The economic partnership agreement between Japan and ASEAN entered into force in 2008. Subsequently, the two sides revised provisions on trade in services and investment in 2019.
Philippine Trade Secretary Maria Cristina Roque highlighted the growing importance of cooperation. Philippine President Ferdinand Marcos Jr. and Japanese Prime Minister Sanae Takaichi signed a May agreement to consider revisions that could broaden the partnership.
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