Japan and the European Union have confirmed their cooperation in safeguarding crucial sea lanes amid the de facto closure of the Strait of Hormuz.
Delegates from the two sides gathered in Brussels on Thursday for a ministerial-level meeting called the High-Level Economic Dialogue.
They included Japan’s Economy, Trade and Industry Minister Akazawa Ryosei and European Commission Executive Vice-President Stephane Sejourne, who is in charge of industrial strategy.
A joint statement was issued after the talks. It stated that Japan and the EU “reaffirmed the importance of secure and uninterrupted trade flows, including the safety of navigation and the protection of critical maritime routes and infrastructure.”
The document added that both sides agreed to strengthen “complementarities” and build “resilient and secure markets” in areas such as critical minerals, batteries and defense.
The dialogue comes against the backdrop of China’s tightened export controls on critical minerals, including rare earths.
The statement noted that Japan and the EU “reiterated the importance of ensuring that export control measures are narrowly defined, non-discriminatory, and in line with international law and practice.” It added that this will help prevent disruptions to “strategic supply chains, notably those for critical minerals.”
The statement said that Japan and the EU “reiterated their intention to explore support to realize additional joint critical mineral projects between” both sides.
Akazawa spoke to reporters after the talks. The minister said he told the EU that it is necessary to take flexible responses in case the situation surrounding Iran should persist for a long time.
He argued that options include additional coordinated releases from oil reserves under the initiative of the International Energy Agency.
Akazawa also said he highlighted the importance of maintaining and reinforcing diversified trade systems to shore up Asian supply chains.