Japan And EU Strengthen Economic Security Ties, Reducing Dependency On China

Japan and the European Union (EU) are set to deepen their cooperation on economic security, particularly focusing on strengthening supply chain resilience for critical materials such as semiconductors, Kyodo News reported.

The leaders of Japan and the 27-nation EU are expected to issue a joint statement promoting the establishment of transparent, resilient, and sustainable supply chains at the upcoming Japan-EU High-level Economic Dialogue.

According to sources, both parties aim to reduce dependency on China in this endeavor.

The move comes as Japan seeks to enhance partnerships with allies and like-minded nations to bolster resilient supply chains amidst geopolitical tensions and economic uncertainties, including Russia's conflict with Ukraine and China's increasing influence.

The leaders of Japan and the 27-nation EU are expected to issue a joint statement promoting the establishment of transparent, resilient, and sustainable supply chains at the upcoming Japan-EU High-level Economic Dialogue scheduled to take place in Paris in early May.

The dialogue will be attended by high-ranking officials from both sides, including Japanese Foreign Minister Yoko Kamikawa and Industry Minister Ken Saito, as well as Valdis Dombrovskis, the Executive Vice President of the European Commission for an Economy that Works for People.