Japan’s Prime Minister Sanae Takaichi says the country will boost ties with Vietnam, with a focus on energy and critical minerals.
Takaichi met her Vietnamese counterpart, Le Minh Hung, on Saturday in Hanoi, where they signed six agreements on issues ranging from infrastructure to agriculture to space cooperation.
“The two sides identified economic security as a new priority area for bilateral cooperation,” Takaichi told reporters after the meeting.
“With regard to critical minerals … both sides agreed to strengthen close coordination to ensure stable supplies and reinforce supply chains,” she added.
Hung said the two leaders also “reaffirmed the importance of resolving disputes in the South China Sea through peaceful means based on international law”.
Japan and Vietnam share concerns about China’s territorial claims in the East and South China Seas, and both have sought to hedge against United States-driven trade disruptions by broadening economic and security ties.The push for deeper cooperation between the two states comes after new investment in Vietnam from Japan, one of its largest foreign investors, fell about 75 percent year-on-year to $233m in the first quarter, even as bilateral trade rose 12.3 percent to $13.7bn over the same period, according to Vietnamese government and customs data.
Vietnam has been seeking support from Japan and other countries for oil supplies as conflict in the Middle East drives prices higher and disrupts supply chains.
