Japan, Vietnam agree to boost cooperation on critical minerals

Japan and Vietnam announced plans to enhance cooperation on critical minerals during Prime Minister Sanae Takaichi's visit to Tokyo on Monday. Prime Minister Takaichi stated that economic security cooperation is a top priority in Japan-Vietnam's bilateral relationship. The meeting aimed to strengthen ties amid growing pressure from China, including restrictions on rare earth exports, while supporting Vietnam's energy supply network development.

Both countries issued a joint statement highlighting the need for deeper cooperation on defense, economic security, and investment. Takaichi highlighted the visit as a significant step forward towards the Comprehensive Strategic Partnership for peace and prosperity in Asia and the world. The two countries also agreed to explore concrete cooperation projects to enhance their critical minerals supply chains.

This news follows Takaichi's previous visit to Vietnam six months ago, where they agreed to make Nghi Son Refinery and Petrochemical Complex the first project under a Tokyo-led financing framework for stable energy supplies for Asian nations. Security-wise, Japan and Vietnam discussed providing Vietnam with equipment for United Nations peacekeeping operations under Japan's Official Security Assistance program.

The leaders emphasized the importance of freedom of navigation in the South China Sea, referencing China's growing assertiveness in the region. Despite territorial disputes in both the East China Sea and South China Sea, Vietnam maintains a balanced foreign policy. During her visit to Japan, Vietnamese President To Lam addressed the House of Representatives, expressing appreciation for Takaichi's updated free and open Indo-Pacific concept, which Vietnam supports as a means to maintain regional peace and promote cooperation and development in the Indo-Pacific according to international law.