Blog

April 10, 2023

On Monday, April 10, Mr. Nishimura Yasutoshi, Minister of Economy, Trade and Industry, paid a courtesy call on His Majesty King Abdullah II Ibn Al Hussein, King of the Hashemite Kingdom of Jordan.

Minister Nishimura paid a courtesy call on His Majesty King Abdullah II, who is visiting Japan, and they exchanged views on further development of economic relations between Japan and Jordan. They discussed the strengthening of bilateral economic relations, the regional situation, and future initiatives.

April 7, 2023

The Ministry of Economy, Trade and Industry (METI) has decided to extend the ban on all exports destined for North Korea, and all imports originating in or shipped from North Korea, in line with the “Measures against North Korea Pursuant to the Foreign Exchange and Foreign Trade Act” (decided by the Cabinet on April 7, 2023).

Outline of the measures

1. The ban on all exports of goods destined for North Korea will be extended by imposing the requirement that exporters obtain export approval from the Minister of Economy, Trade and Industry (related article: Article 48, Paragraph 3 of the Foreign Exchange and Foreign Trade Act; hereinafter referred to as the “Act”).
2. The ban on all imports of goods originating in or shipped from North Korea will be extended by imposing the requirement that importers obtain import approval from the Minister of Economy, Trade and Industry (related article: Article 52 of the Act).
3. To ensure the enforcement of these restrictions, the following transactions shall be banned:i. Transactions involving buying/selling, loaning/borrowing, or giving of goods that involve the movement of the goods between North Korea and third countries (intermediate trade) (related article: Article 25, Paragraph 6 of the Act); andii. Payments of import bills for goods originating in or shipped from North Korea which are imported without import approval (related article: Article 16, Paragraph 5 of the Act).
4. Goods exported for humanitarian purposes are exempt from the above restrictions.

Effective period

These restrictions will enter into effect from April 14, 2023, to April 13, 2025.

April 3, 2023

On April 3, the Japan-Malaysia Public-Private Industrial Policy Dialogue was held in Malaysia to discuss methods of promoting initiatives by the public and private sectors of Japan and Malaysia, building on the concept of the Asia-Japan Investing for the Future Initiative  (AJIF).

This dialogue was established following the meeting between the Minister of Economy, Trade and Industry of Japan and the Minister of International Trade and Industry of Malaysia in May 2022.

As part of efforts to materialize the AJIF, which was announced in January 2022, at this meeting, supply chain resilience, utilization of digital technology in specific industrial fields (healthcare, agriculture, etc.), and avenues of cooperation between the two countries to promote start-ups were discussed. In addition, there was a report on the progress of the two countries’ efforts under the MOC on cooperation in the aircraft industry.

As a result of the discussions, both sides agreed to strengthen their efforts toward supply chain resilience, collaboration between companies of both countries utilizing digital technology, and promotion of startups.

Participants

Japanese side

• Mr. Kiriyama Nobuo, Deputy Director-General for Trade Policy, Trade Policy Bureau, Ministry of Economy, Trade and Industry (Co-Chair)

Japan External Trade Organization (JETRO), The Japanese Chamber of Trade and Industry, Malaysia (JACTIM), Resonac Corporation, KONICA MINOLTA, INC., Sumitomo Corporation, Olympus Corporation, Polar Star Space Co., Ltd., funlead corp., SmartDrive Inc., Liberaware Co.,Ltd., and others.

Malaysia side

• Datuk Hanafi Sakri, Deputy Secretary General (Industry), Ministry of International Trade and Industry (Co-Chair)

Federation of Malaysian Manufacturers (FMM), Association of Private Hospitals Malaysia (APHM), National Aerospace Industry Coordinating Office (NAICO), STMicroelectronics, REDtone Group’s REDtone IoT & REDtone Smart Farming Business, Malaysia Digital Economy Corporation (MDEC) Sdn. Bhd., Sunway, and others.

March 28, 2023

To further promote the Joint Crediting Mechanism (JCM), the Ministry of Economy, Trade and Industry (METI), the Ministry of the Environment (MOE), and the Ministry of Foreign Affairs (MOFA) are going to release a document titled “Guidance for the Development of Private-Sector JCM Projects,” aimed at private companies.

Outline

1. Japan establishes and implements the Joint Crediting Mechanism (JCM) in order both to appropriately evaluate contributions from Japan to GHG emission reductions or removals in a quantitative manner achieved through diffusion of decarbonizing technologies, products, systems, services, and infrastructure as well as implementation of mitigation actions in developing and other countries, and to use them to achieve Japan’s emission reduction target.
2. More than 200 projects have been implemented with financial support from the Japanese government. However, in addition to projects that are funded this way, the JCM can now be expected to expand even further by also developing more private-sector JCM projects—i.e., ones that will be mainly funded by the private sector, rather than being premised on government funding.
3. In order to promote the development of private-sector JCM projects with increasing the business foreseeability, the government reviewed the guidance summarizing the new processes to be introduced and matters that require particular care in FY2022. It then compiled the results into a document titled “Guidance for the Development of Private-Sector JCM Projects.” This guidance explains the necessary procedures and items of note when pursuing a private-sector JCM project, examples being the advance inquiry processes with the partner countries and the concept of credit allocation. Using this guidance effectively can be expected to promote the development of private-sector JCM projects, while also giving private companies a business foreseeability for an implementation.
4. In addition to releasing the guidance, the government will continue to support the development and implementation of private-sector JCM projects, progressively constructing a concrete system including a consultation service for private-sector JCM projects in FY2023.

March 28, 2023

On March 28th local time, the “Agreement between the Government of Japan and the Government of the United States on Strengthening Critical Minerals Supply Chains” (Japan-U.S. Critical Minerals Agreement (CMA)) was signed at the office of the USTR in Washington, D.C., between Ambassador Tomita Koji, and the Honorable Katherine Tai, U.S. Trade Representative.  The Agreement entered into force upon signature.

Facing the prospect of significant increase in demand of electric vehicle batteries, it is urgent to secure critical minerals which are essential to the production of clean vehicles. The Agreement is envisaged to build robust supply chains through coordination between Japan and the U.S. and among like-minded countries with strengthened cooperation for ensuring sustainable and equitable supply chains for such critical minerals, including to promote the goals of the Inflation Reduction Act.

March 6, 2023

On March 4 (Sat.), 2023, the Ministry of Economy, Trade and Industry (METI) held the Asia Zero Emission Community (AZEC) Ministerial Meeting. In addition, the AZEC Public-Private Investment Forum was held on March 3 (Fri.) to create and accelerate concrete cooperation as part of the AZEC concept. Mr. Nishimura Yasutoshi, Minister of Economy, Trade and Industry, Mr. Nakatani Shinichi, State Minister of Economy, Trade and Industry, and Mr. Satomi Ryuji, Parliamentary Vice-Minister of Economy, Trade and Industry, held meetings with ministers of various countries and others who were visiting Japan on this occasion and exchanged views including on cooperation toward decarbonization.

Asia Zero Emissions Community (AZEC) Ministerial Meeting

Minister Nishimura chaired the ministerial meeting, during which he made remarks on the importance of decarbonization in Asia, the concept of Asia Zero Emission Community and concrete efforts by Japan. Mr. Nishimura Akihiro, Minister of Environment, and participants from various countries and international organizations made remarks on views toward decarbonization and their expectations for AZEC, and other topics. In addition, Prime Minister Kishida who advocated the AZEC concept gave a video message. In addition, the participants launched  AZEC as a platform and agreed to AZEC joint statement including the three following common views: 

(1) Advancing cooperation towards carbon neutrality/net-zero emissions while ensuring energy security, 
(2) Promoting energy transition while achieving economic growth, and
(3) Recognizing there are various and practical pathways toward carbon neutrality/net-zero emissions depending on the circumstances of each country. 

After the ministerial meeting, Minister Nishimura issued ”Chair’s Summary”  that reflects the comments and opinions expressed in the ministerial meeting under his responsibility as the Chair.

March 6, 2023

The Ministry of Economy, Trade and Industry (METI) and Japan External Trade Organization (JETRO) will hold the “ASEAN-Japan Fast Track Pitch Event in Thailand” in the capital city Bangkok, to be co-organised by PTT Public Company Limited (PTT Group) together with the Thailand Board of Investment and Ministry of Energy of Thailand as a part of the “ASEAN-Japan Co-Creation Fast Track Initiative” to accelerate global open innovation of Japanese companies and startups.

Overview

Taking the opportunity of the 50th anniversary of ASEAN-Japan friendship and cooperation this year, METI and JETRO have decided to launch the “ASEAN-Japan Co-Creation Fast Track Initiative” to support the creation of open innovation through collaboration between startups and large companies from both ASEAN and Japan. This initiative proposes a new format of cooperation with ASEAN countries to create new innovations. 

On March 4, Minister Nishimura proposed to Mr. Supattanapong, Deputy Prime Minister and Minister of Energy, the holding of the “ASEAN-Japan Fast Track Pitch Event in Thailand” in Bangkok to be co-organised by PTT Public Company Limited (PTT Group) together with Thailand Board of Investment and Ministry of Energy of Thailand. Deputy Prime Minister Mr. Supattanapong welcomed the proposal and agreed to hold the event at the earliest possible time.

The Fast Track Pitch in Thailand is one of the tangible co-creating outcomes of the “Initiative for the Co-creation Partnership towards Future Investment”, a joint statement between Economic Ministers of Thailand and Japan in January 2022. Through the Fast Track Pitch, startups will have the opportunity to (1) receive support not only from Japanese organizations such as JETRO, but also from the government agencies of Thailand and ASEAN, and (2) gain access to not only large Japanese companies but also a wide range of startup ecosystems in Thailand and ASEAN.

Co-Organiser

Ministry of Economy, Trade and Industry of Japan (METI)
Embassy of Japan in Thailand
Japan External Trade Organization (JETRO)
Ministry of Energy of Thailand
Thailand Board of Investment (BOI)
PTT Public Company Limited (PTT Group)

Supported by

ASEAN Secretariat
Japanese Chamber of Commerce, Bangkok (JCC)

More information on the event, including the challenge owners and challenge statements, will be announced once these are finalized, and the call for application from startups will be opened then.

February 15, 2023

The Ministry of Economy, Trade and Industry (METI) and The Japan External Trade Organization (JETRO), co-organising with Singapore government agencies, hold the first “Singapore-Japan Fast Track Pitch Event” in Singapore as a part of the “ASEAN-Japan Co-Creation Fast Track Initiative” to accelerate global open innovation of Japanese companies and startups.

Overview

In ASEAN, which is expected to become a growth center, driving the world economy, leapfrogging startups have been creating many innovations that solve social issues by utilizing digital technology in a wide range of fields such as logistics, payments, and finance. In addition, due to the young population structure and rapidly rising income levels, the size of the middle-income population that enjoys an affluent consumer lifestyle, especially in urban areas, is increasing.

For Japanese companies, it is becoming crucial to develop strategic collaboration with startups that are achieving rapid growth so that they can incorporate innovations that are newly created in the ASEAN region and improve their competitiveness in the growing ASEAN market.

With this understanding and taking the opportunity of the 50th anniversary of ASEAN-Japan friendship and cooperation this year, METI and JETRO have decided to launch the “ASEAN-Japan Co-Creation Fast Track Initiative” to support the creation of open innovation through collaboration between startups and large companies from both ASEAN and Japan. This initiative proposes a new format of cooperation with ASEAN countries to create new innovations. 

Moreover, at the Japan-Singapore Economic Dialogue (JSED) held today, both sides affirmed further cooperation in the startup area. As a tangible collaboration project of the JSED, the first Singapore-Japan Fast Track Pitch Event (the “Fast Track Pitch Event”) will be held in Singapore and co-organized by METI, JETRO, the Singapore Ministry of Trade and Industry, Enterprise Singapore, and Singapore Economic Development Board.

Under the ASEAN-Japan Co-Creation Fast Track Initiative, startups will have the opportunity to (1) receive support not only from Japanese organizations such as JETRO, but also from the government agencies of ASEAN countries, and (2) access not only major Japanese companies but also a wide range of startup ecosystems, including global companies based in ASEAN.

The Fast Track Pitch Event in Singapore

At the first Fast Track Pitch Event in Singapore, 8 companies in total, including companies from Japan and Singapore-based global companies, provide challenges based on each company’s needs to create open innovation and call for solutions to each challenge from participating startups.

Today, each company’s challenges were announced on the following JETRO’s special website and the application process was opened for startups to submit proposals. Startups can submit their proposals through the special website. The deadline for proposals is March 19th, 2023.

February 6, 2023

On February 6, Minister Nishimura held a meeting with the delegation of the Pacific Islands Forum (PIF), led by Hon. Mark Brown, Prime Minister of the Cook Islands. Hon. Henry Puna, Secretary General of the PIF Secretariat, also attended the meeting.

During the meeting, Minister Nishimura mentioned at the outset that the Government of Japan has been providing assistance in a variety of areas in line with the needs of Pacific Island counties. They also exchanged views regarding the discharge of ALPS treated water into the sea at TEPCO’s Fukushima Daiichi Nuclear Power Station. Minister Nishimura explained that the safe discharge of ALPS treated water is essential for the decommissioning work necessary for the reconstruction of Fukushima, and that it will never cause any harmful impact on Japan or the Pacific region because it will be strictly done under internationally accepted approaches and in full compliance with safety standards.
 
Minister Nishimura also reconfirmed that he takes seriously the concerns expressed by the Pacific Island countries and regions, and as promised by former Prime Minister Suga at The 9th Pacific Islands Leaders Meeting (PALM 9), will continue to receive objective confirmation by the IAEA and provide Pacific Island countries and regions with explanations based on scientific evidence in a highly transparent manner and in good faith. They agreed that they will continue to build a stronger cooperative relationship between Japan and Pacific Island countries and regions based on mutual trust.

January 13, 2023

On Friday, January 13, Minister of Economy, Trade and Industry Nishimura held a meeting with H.E. Mr. Suriya Jungrungreangkit, Minister of Industry of the Kingdom of Thailand to exchange views in various areas, such as supply chain resilience, and confirmed the two countries’ commitment to deepening cooperation in a wide range of fields.

Summary of the Meeting

On Friday, January 13, 2023, Mr. Nishimura Yasutoshi, Minister of Economy, Trade and Industry, held a meeting with H.E. Mr. Suriya Jungrungreangkit, Minister of Industry of the Kingdom of Thailand.
During the meeting, they exchanged views in various areas, such as supply chain resilience, startup development for new business creation, smart industrial safety, and hydrogen production and utilization, and confirmed the two countries’ commitment to deepening cooperation in a wide range of fields.