Winners, losers and a PM on the brink - what to expect in next week's elections
Next week's elections could reshape the Prime Minister's future as Labour MPs weigh their options.
BBC News1 min read
Japan’s Takaichi pledges deeper energy cooperation with Vietnam
TL;DR
Japan's Prime Minister Sanae Takaichi has pledged to enhance energy cooperation with Vietnam, focusing on critical minerals. Six agreements were signed, emphasizing economic security and peaceful dispute resolution in the South China Sea.
Key points
- Japan's Prime Minister Sanae Takaichi met Vietnam's Le Minh Hung
- Focus on energy and critical minerals cooperation
- Six agreements signed on various cooperation areas
- Economic security identified as a priority
- Importance of peaceful resolution in the South China Sea reaffirmed
Mentioned in this story
Sanae TakaichiLe Minh HungJapanVietnam
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.
Crude oil supplies
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.
Under the $10bn Power Asia Initiative to support Asian countries’ energy self-reliance, Japan will assist in arranging crude oil supplies for Vietnam’s Nghi Son Refinery and Petrochemical Complex, Hung said.
Takaichi was also set to meet President To Lam, who is also the general secretary of the Communist Party of Vietnam, on Saturday afternoon and deliver a keynote speech at Vietnam National University, marking a decade since former Prime Minister Shinzo Abe introduced Japan’s “Free and Open Indo-Pacific” strategy.
Q&A
What agreements were signed between Japan and Vietnam?
Six agreements covering infrastructure, agriculture, space cooperation, and energy were signed during the meeting.
How will Japan and Vietnam strengthen their energy cooperation?
Japan and Vietnam plan to enhance coordination on critical minerals to ensure stable supplies and reinforce supply chains.
What is the significance of economic security in Japan-Vietnam relations?
Economic security has been identified as a new priority area for cooperation, reflecting both countries' focus on stability and mutual interests.
