Japan’s Takaichi pledges deeper energy cooperation with Vietnam
Summary
Japan’s Prime Minister Sanae Takaichi met with Vietnam’s counterpart Le Minh Hung in Hanoi to strengthen cooperation, especially in energy and critical minerals. They signed six agreements covering areas like infrastructure, agriculture, and space, and agreed to work together on economic security and peaceful resolution of South China Sea disputes.Key Facts
- Japan and Vietnam signed six new agreements on cooperation in areas including infrastructure, agriculture, and space.
- Both countries agreed to increase coordination on critical minerals to ensure stable supplies and stronger supply chains.
- Economic security was highlighted as a new priority for their bilateral cooperation.
- Vietnam and Japan share concerns about China’s territorial claims in the East and South China Seas.
- Japan is helping Vietnam secure crude oil supplies for its Nghi Son Refinery under a $10 billion regional energy support program called the Power Asia Initiative.
- Japan is one of Vietnam’s largest foreign investors, but new Japanese investment in Vietnam dropped by about 75% in the first quarter despite a 12.3% rise in bilateral trade.
- The two leaders reaffirmed the importance of settling South China Sea disputes peacefully based on international law.
- Prime Minister Takaichi delivered a speech marking 10 years since Japan introduced its “Free and Open Indo-Pacific” strategy.
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