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Business Times
12 hours ago
- Business
- Business Times
EU-Japan Competitiveness Alliance deepens ties
LAST week saw much media reportage on the chill in relations between China and the European Union that was shown at their Beijing summit. However, less has been said about the warmth of the European-Japanese ties shown in Tokyo only 24 hours earlier. At the 30th EU-Japan summit last Wednesday (Jul 23), attended by European Commission President Ursula von der Leyen and Japanese Prime Minister Shigeru Ishiba, the two powers launched a new Competitiveness Alliance focused on trade, green and digital innovation, plus economic security. Priorities include strengthening supply chains for raw materials and batteries, regulatory cooperation, and joint industrial efforts in hydrogen, liquefied natural gas (LNG), offshore wind and semiconductors. The new initiative stems from the broader deepening of Japan-EU economic ties under the bilateral economic partnership agreement and other forums such as the EU-Japan Green Alliance, the Partnership on Sustainable Connectivity and Quality Infrastructure, as well as the bilateral digital partnership. EU firms already export around 70 billion euros (S$103.8 billion) in goods and 28 billion euros in services to Japan annually, and bilateral trade has increased by about 20 per cent since 2019, according to Dr von der Leyen. There are also hopes of deeper EU trade cooperation with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership trade and investment bloc that Japan is a member of. The Japanese government was one of the strongest supporters of the UK's accession to this economic club of nations in the Americas and Asia-Pacific – which includes Singapore – and Tokyo is keen for closer EU engagement with the bloc too going forward. As part of the new Competitiveness Alliance, Japan and Europe also agreed to intensify their collaboration against 'economic coercion' and 'unfair trade practices'. Dr von der Leyen highlighted growing geoeconomic challenges and geopolitical tensions from Ukraine to the Asia-Pacific. Europe and Japan have, potentially, significant shared weight together on this agenda, with their collective economies accounting for around a fifth of global gross domestic product and a market of about 600 million people. The troubled international relations context also helps explain why Tokyo and Brussels announced the 2026 launch of a Defence Industry Dialogue. This will promote collaboration on advanced and dual-use technologies, with broader cooperation spanning areas including cyber, maritime and space security. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up This Europe-Japan bilateral defence and intelligence alliance is deepening fast, and Ishiba's predecessor, Fumio Kishida, was the first Japanese prime minister to attend a Nato leadership meeting. There is speculation too of Tokyo being invited into Western intelligence forums, such as the Five Eyes alliance of the United States, Canada, United Kingdom, Australia and New Zealand. Yet, important as this deepening defence and security dialogue is, it is economics that has traditionally defined Japan-Europe ties. A key driver of this agenda in recent times is sustainability – where Tokyo and Brussels are both international leaders. Both powers recognise the environmental benefits of this approach. They also want to capitalise on the surge in green investment as the world aims to hit net-zero emissions by 2050. A pragmatic, green-led economic transition The recent summit affirmed new cooperation under the EU-Japan Green Alliance – launched in 2021 – on the circular economy, emissions trading systems and clean technologies. This would accelerate both economies' transition towards becoming climate-neutral and resource-efficient. One key area championed by the partnership is a pragmatic energy transition. The agenda includes the objective of trebling renewable-energy capacity globally, and doubling the global average annual rate of energy-efficiency improvements by 2030. Notably, there will be ambitious joint work on developing next-generation technologies such as perovskite solar cells and utilising hydrogen for decarbonisation. The agreement also acknowledges post-Ukraine energy security realities. The two powers recommitted to dialogues on LNG and agreed to expand their cooperation in strengthening secure, safe and sustainable low-carbon energy supply for both EU member states and Japan. Beyond energy, the two powers also agreed to strengthen cooperation on advancing circularity and a sustainable bioeconomy. A new working group will focus on the circular economy, while both sides reaffirmed commitments to the Kunming-Montreal Global Biodiversity Framework, including specific goals to halt and reverse forest loss and protect marine life under the UN Convention on the Law of the Sea. Taken together, last week's summit underscored that defence is a growing driver of Europe's warming relationship with Japan. Bilateral ties continue to have a very powerful economic foundation. The shared green agenda ensures that the partnership is built for the long term, with Tokyo and Brussels poised to seize larger slices of the global wave of clean energy investment in the coming decades. The writer is an associate at LSE IDEAS at the London School of Economics
Asahi Shimbun
24-07-2025
- Business
- Asahi Shimbun
Japan, EU make ‘competitive alliance,' deepen security ties
Prime Minister Shigeru Ishiba, center, meets with European Commission President Ursula von der Leyen, right, and Antonio Costa, president of the European Council, in Tokyo on July 23. (Takeshi Iwashita) Japan and the European Union have announced the launch of a new Japan-EU Competitiveness Alliance, pledging deeper cooperation on security and economic issues amid shared global challenges. The announcement came during the 30th Japan-EU Summit, held in Tokyo on July 23, where Prime Minister Shigeru Ishiba met with European Commission President Ursula von der Leyen and Antonio Costa, president of the European Council. 'A strong and stable Japan-EU relationship is indispensable for maintaining a free and open international order based on the rule of law,' Ishiba said at a joint news conference. Von der Leyen echoed this sentiment, emphasizing the need for even closer cooperation to confront the realities of the time. Following the first Japan-EU summit in two years, the leaders issued a joint statement calling for a stable and predictable economic order that is rules-based, free and fair. They emphasized the need to strengthen supply chain resilience, particularly for critical minerals such as rare earths. This initiative aims to counter China's dominance in rare earth production and its use of export controls for economic coercion. They plan to collaborate on mining and refining technologies and projects in Africa, sharing investment risks, according to Japanese government officials. The cooperation is particularly important given the crucial role that rare earths play in auto manufacturing, a major sector for both Japan and the EU. Identifying a stronger defense industry base as a shared priority for Japan and the EU, the statement announced plans to launch the Japan-EU Defense Industry Dialogue. Both sides also welcomed the start of formal negotiations on the Japan-EU Security of Information Agreement. Japan and the EU affirmed that the security of Europe and the Indo-Pacific is 'interconnected,' building on last year's Japan-EU Security and Defense Partnership. Both have traditionally depended on the United States for security, but concerns have grown over its shifting stance under President Donald Trump's administration, which has imposed tariffs on allies and expressed skepticism toward multilateralism. In an interview with German media in April, von der Leyen remarked that the West, as it was once known, no longer exists, suggesting that the United States can no longer be regarded as an unshakable ally. Shared concerns over China were also evident. EU foreign policy chief Kaja Kallas told The Asahi Shimbun on July 23 that China is a pivotal country enabling Russia's war in Ukraine, pointing to its purchases of Russian oil that help finance Moscow's aggression. Kallas emphasized the importance of cooperation among like-minded partners such as Japan and the EU. In the joint statement, Japan and the EU underscored the importance of peace and stability across the Taiwan Strait, reaffirming their opposition to any unilateral attempts to change the status quo by force or coercion. With tensions rising in the area, Japan views closer ties with the EU as a strategic message to deter China, particularly given that the EU-China summit was scheduled for the following day in Beijing. (This article was written by Azusa Kato and Chinami Tajika in Tokyo and Azusa Ushio in Brussels.)
Business Times
24-07-2025
- Business
- Business Times
Japan, EU pledge deeper economic, defence ties as US tariffs hit
[TOKYO] Japan and the European Union said they would deepen economic and defence industry cooperation as both parties navigate their relationships with the US and face challenges from China. In a statement released after a meeting between Japanese Prime Minister Shigeru Ishiba, European Commission President Ursula von der Leyen and European Council President Antonio Costa, the two sides said they would launch a 'competitive alliance' to support 'a stable and predictable rules-based fair and free economic order.' While neither side referred to US President Donald Trump's global tariff offensive, the announcement came hours after Tokyo confirmed it had reached a bilateral trade deal with Washington. That agreement eases a major concern for Japan's critical export sector. The outlook is less clear for the EU, which is engaged in intensive talks with the US to avoid a tariff rate of 30 per cent threatened by Trump on most of its exports to America, unless a deal can be reached by Aug 1. The EU-Japan statement highlighted shared interests and values but offered little detail beyond pledges to work closely together in areas such as supply chain resilience, countering economic coercion, cybersecurity and critical mineral supply including rare earth elements. No specific reference to China was made in the statement. The Japan-EU Economic Partnership Agreement, which entered into force in 2019 to lower trade barriers, will remain the cornerstone of bilateral trade relations, the two sides said. In one new initiative, the statement said a 'Japan-EU Defence Industry Dialogue' would be launched to foster cooperation in the defence industry, a field of growing importance as global defence budgets rise. Von der Leyen and Costa are scheduled to visit China on Thursday, where they are scheduled to meet Chinese Premier Li Qiang. BLOOMBERG
Japan Today
23-07-2025
- Business
- Japan Today
EU and Japan agree to work together to promote free trade and economic security
European Commission President Ursula von der Leyen, right, Japanese Prime Minister Shigeru Ishiba, center, and European Council President António Costa, left, join hands prior a meeting at the prime minister's office Wednesday, July 23, 2025, in Tokyo Japan. (David Mareuil/Pool Photo via AP) By MARI YAMAGUCHI Leaders of the European Union and Japan launched an alliance Wednesday aimed at boosting economic cooperation, defending free trade and countering unfair trade practices as the two sides face growing challenges from the United States and China. The agreement followed a meeting among European Commission President Ursula von der Leyen, European Council President António Costa and Japanese Prime Minister Shigeru Ishiba. It comes just as Tokyo and Washington reached a new trade deal, which places 15% tariffs on Japanese cars and other goods imported into the U.S., down from an initial 25%. The leaders agreed to launch 'competitiveness alliance" aimed at stepping up trade, economic security and cooperation in innovation, energy and other areas, according to a joint statement released by the EU. The leaders also supported 'a stable and predictable rules-based free and fair economic order,' and reaffirmed the importance of Japan-EU cooperation to uphold multilateral trading system with the World Trade Organization at its core, as well as with other multilateral cooperation efforts. The EU and Japan also agreed to strengthen defense industry cooperation and to start talks on an information security agreement. Japan and the EU have been stepping up their security and defense cooperation amid growing global tensions and conflicts, including Russia's war on Ukraine, conflicts in the Middle East and increasingly assertive China's military activity in Asia, recognizing that challenges in Europe and Indo-Pacific are inseparable. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Winnipeg Free Press
23-07-2025
- Business
- Winnipeg Free Press
EU and Japan agree to work together to promote free trade and economic security
TOKYO (AP) — Leaders of the European Union and Japan launched an alliance Wednesday aimed at boosting economic cooperation, defending free trade and countering unfair trade practices as the two sides face growing challenges from the United States and China. The agreement followed a meeting among European Commission President Ursula von der Leyen, European Council President António Costa and Japanese Prime Minister Shigeru Ishiba. It comes just as Tokyo and Washington reached a new trade deal, which places 15% tariffs on Japanese cars and other goods imported into the U.S., down from an initial 25%. The leaders agreed to launch 'competitiveness alliance' aimed at stepping up trade, economic security and cooperation in innovation, energy and other areas, according to a joint statement released by the EU. The leaders also supported 'a stable and predictable rules-based free and fair economic order,' and reaffirmed the importance of Japan-EU cooperation to uphold multilateral trading system with the World Trade Organization at its core, as well as with other multilateral cooperation efforts. Monday Mornings The latest local business news and a lookahead to the coming week. The EU and Japan also agreed to strengthen defense industry cooperation and to start talks on an information security agreement. Japan and the EU have been stepping up their security and defense cooperation amid growing global tensions and conflicts, including Russia's war on Ukraine, conflicts in the Middle East and increasingly assertive China's military activity in Asia, recognizing that challenges in Europe and Indo-Pacific are inseparable.
