Japan, ASEAN agree to study expansion of trade pact
MANILA -- Economy ministers from Japan and the Association of Southeast Asian Nations agreed at a meeting in Manila on Sunday to begin a study on expanding the Japan-ASEAN economic partnership agreement, Japan's Ryosei Akazawa said after the meeting.
Trade minister Ryosei Akazawa (C) said participants at a Japan-ASEAN meeting in Manila expressed their interest in strengthening cooperation in energy security, artificial intelligence and supply chains, among other fields. Photo: REUTERS
Participants expressed their interest in strengthening cooperation in fields such as energy security, artificial intelligence and supply chains, according to Akazawa at a press conference.
"We hope to advance discussions to further solidify our strong economic ties built so far," the Japanese minister said.
At the beginning of the meeting, Cristina Roque, secretary of trade and industry of the Philippines, which chaired the meeting, stressed that the significance of Japan-ASEAN cooperation is increasing amid growing global uncertainties.
In a joint statement adopted at the meeting, participants addressed geopolitical tensions and risks to key energy supply routes and vowed to refrain from unilateral measures that could further destabilize the world economy.
Both Japan and ASEAN countries heavily rely on the Middle East for oil but are seeking to secure alternative energy sources.
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