TOKYO (Kyodo) — Japan and the Association of Southeast Asian Nations agreed on Sunday to deepen economic ties in areas such as supply chain resilience ahead of the 50th anniversary of Japan-ASEAN friendship.
At a face-to-face meeting of economic ministers held in Siem Reap, Cambodia, the two sides confirmed their cooperation to establish a system for companies in each country to share information on supply inventories.
Japan’s Minister of Economy, Trade and Industry Yasutoshi Nishimura said, “At a time of economic uncertainty, we reaffirmed that we will overcome challenges together and open up the future through free and fair trade and investment.” He told reporters after the meeting.
ASEAN Group Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam.
Trade between ASEAN and the plus three countries (Japan, China and South Korea) registered a 25.1% increase, reaching a total of $1.1 trillion in 2021.
Nishimura said Japan has proposed efforts to strengthen economic cooperation, including building a network of 100 entrepreneurs from Japan and ASEAN each year and creating 100 business projects each year to tackle social issues. rice field.
Also on Saturday in Cambodia, economic ministers of the Regional Comprehensive Economic Partnership Agreement, which groups ASEAN and the plus three countries, as well as Australia and New Zealand, held their first ministerial meeting since the partnership entered into force in January. .
