Latest news with #CompetitivenessAlliance
Business Times
31-07-2025
- 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
Fashion United
23-07-2025
- Business
- Fashion United
EU and Japan agree on closer cooperation
Japan and the European Union (EU) aim to further strengthen their cooperation in the areas of economic security, trade and defence. For this purpose, both sides launched a "Competitiveness Alliance" at a summit meeting in Tokyo. "We will expand our cooperation on increasing the resilience of supply chains and reducing strategic dependencies," a joint final declaration stated. At the same time, the EU and Japan emphasised the importance of promoting free trade and multilateralism. Closer cooperation has become even more important against the backdrop of a "complex global geopolitical environment, in particular Russia's war of aggression against Ukraine, the serious challenges to a free and open Indo-Pacific, and other regional and international issues", the declaration continued. The EU and Japan are determined "to work with like-minded international partners to address these challenges". This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Yomiuri Shimbun
15-07-2025
- Business
- Yomiuri Shimbun
Ishiba, EU Leaders to Agree on Intl Economic Order; Draft Statement Shows Support For Rules-Based Free Trade
Japan and the European Union intend to lead a rules-based international economic order in the face of U.S. tariff policies and threats of economic coercion by China, according to a draft Japan-EU joint statement obtained Monday. The statement, to be finalized between Prime Minister Shigeru Ishiba and EU leaders later this month, will also include a launch of the Japan-EU Competitiveness Alliance to upgrade their cooperation across multiple fields, including economic security, trade and defense industries. The joint statement and supplementary documents on the alliance scheme are expected to be released following talks scheduled for July 23 between Ishiba and European Council President Antonio Costa and European Commission President Ursula von der Leyen when they visit Tokyo. The draft states that Japan and the EU 'firmly share values and principles' such as the rule of law and free and fair trade, and recognizes that Japan-EU cooperation has become 'all the more important.' China has tightened trade controls, including restrictions on exports of rare earths, while the administration of U.S. President Donald Trump has slapped high tariffs on Japan and the EU. The joint statement, while avoiding naming these countries, stated that Japan and the EU 'continue to contribute to maintaining and strengthening a stable and predictable rules-based free and fair economic order.' Japan will steadily advance tariff negotiations with the United States, hoping to reach an agreement by the Aug. 1 deadline, while clarifying its stance on multilateral cooperation with the EU toward the stabilization of the long-term international economic order. Trade and economic security are a main focus of Japan-EU cooperation. They will agree to work together to maintain the World Trade Organization-centered free trade system and lead discussions in multilateral forums such as WTO and Group of Seven summit meetings. They will cooperate in monitoring the supply chains of strategic materials and strengthening and diversifying the supply chains of critical materials such as rare earths and batteries. To enhance energy security, Japan and the EU will also support investment to stabilize energy supplies including liquefied natural gas. Japan and the EU will invite industrial entities from both sides to launch a dialogue on defense industry collaboration between Japan and the EU, including in connection with advanced and dual-use technologies. They will also accelerate the development of satellite constellations that link multiple small satellites. The two sides have deepened their cooperative relationship through the Japan-EU Economic Partnership Agreement, which came into effect in 2019, and the Strategic Partnership Agreement, which officially came into effect in January. These agreements serve as a basis for the upcoming Competitiveness Alliance to further strengthen their strategic competitiveness in face of the current state of the global economy.
New Straits Times
08-06-2025
- Business
- New Straits Times
Japan, EU to form competitveness alliance to strenghthen trade ties
BRUSSELS: Japan and the European Union are set to launch a "Competitiveness Alliance" aimed at boosting corporate resilience and deepening trade and economic security cooperation, Kyodo news agency quoted diplomatic sources on Saturday. The initiative is expected to be announced at a summit in July, which will likely see Japanese Prime Minister Shigeru Ishiba host European Council President, Antonio Costa and European Commission President, Ursula von der Leyen. The new framework aims to reinforce efforts by both parties to uphold a rules-based economic order. It will build on the existing Japan-EU free trade agreement, which eliminates tariffs and other trade barriers between the two economies that together represent 20 per cent of global gross domestic product. Under the alliance, Japan and the EU will work together to diversify supply chains for rare earth minerals, amid growing concern over China's export restrictions on these critical resources used in smartphones and high-tech manufacturing. The framework also includes plans to align subsidy policies for green technologies, including electric vehicles and hydrogen production, to reduce development costs and ensure fair competition for manufacturers on both sides. On the global trade front, the alliance will support reforms at the World Trade Organisation (WTO), which many view as weakened in addressing Chinese trade practices and broader systemic issues. Japan and the EU will also seek stronger engagement with emerging economies of the Global South, promoting shared values such as free and fair trade, and adherence to the rule of law. The EU, meanwhile, is exploring closer cooperation with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which includes Japan, the United Kingdom, and 10 other countries. Some EU members have called for deeper collaboration in setting rules on digital trade and climate-related business practices.
The Star
08-06-2025
- Automotive
- The Star
Japan, EU to form Competitiveness Alliance to strengthen trade ties
A 2025 Volkswagen ID.4 electric vehicle (EV) during a Great American Road Trip Expo hosted by the Department of Transportation (DOT) in Washington, DC, US, on Thursday, May 29, 2025. Japan and the EU plan to align subsidy policies for green technologies, including electric vehicles and hydrogen production. -Bloomberg BRUSSELS: Japan and the European Union are set to launch a "Competitiveness Alliance" aimed at boosting corporate resilience and deepening trade and economic security cooperation, Kyodo news agency quoted diplomatic sources on Saturday (June 7). The initiative is expected to be announced at a summit in July, which will likely see Japanese Prime Minister Shigeru Ishiba host European Council President, Antonio Costa and European Commission President, Ursula von der Leyen. The new framework aims to reinforce efforts by both parties to uphold a rules-based economic order. It will build on the existing Japan-EU free trade agreement, which eliminates tariffs and other trade barriers between the two economies that together represent 20 per cent of global gross domestic product. Under the alliance, Japan and the EU will work together to diversify supply chains for rare earth minerals, amid growing concern over China's export restrictions on these critical resources used in smartphones and high-tech manufacturing. The framework also includes plans to align subsidy policies for green technologies, including electric vehicles and hydrogen production, to reduce development costs and ensure fair competition for manufacturers on both sides. On the global trade front, the alliance will support reforms at the World Trade Organisation, which many view as weakened in addressing Chinese trade practices and broader systemic issues. Japan and the EU will also seek stronger engagement with emerging economies of the Global South, promoting shared values such as free and fair trade, and adherence to the rule of law. The EU, meanwhile, is exploring closer cooperation with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which includes Japan, the United Kingdom, and 10 other countries. Some EU members have called for deeper collaboration in setting rules on digital trade and climate-related business practices. - Bernama-Kyodo
