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  5. METI Minister Kajiyama Holds Meeting with H.E. Mr. Chan Chun Sing, Minister for Trade and Industry, Singapore, via Video Conference

METI Minister Kajiyama Holds Meeting with H.E. Mr. Chan Chun Sing, Minister for Trade and Industry, Singapore, via Video Conference

May 1, 2020

On May 1 (Fri.), 2020, Mr. Kajiyama Hiroshi, Minister of Economy, Trade and Industry, held a meeting with H.E. Mr. Chan Chun Sing, Minister for Trade and Industry, Singapore, via video conference. At the meeting, the ministers agreed on issuance of the Joint Statement on Facilitating Resilient Economic Activities and they confirmed that Japan and Singapore will enrich cooperation for maintaining supply chains and enhancing a resilient economy in line with the ASEAN-Japan Economic Ministers’ Joint Statement on Initiatives on Economic Resilience, which Japan and ASEAN economies released on April 22, 2020.

1. Issuance of the Japan-Singapore Joint Statement on Facilitating Resilient Economic Activities

On May 1 (Fri.), 2020, Minister Kajiyama held a meeting with Minister Chan Chun Sing of Singapore via video conference.

At the meeting, the two ministers confirmed the following actions to be conducted in line with the ASEAN-Japan Economic Ministers’ Joint Statement on Initiatives on Economic Resilience, which Japan and ASEAN economies released on April 22, 2020, as measures against a variety of challenges brought about by expansion of COVID-19.

  1. For alleviating the negative impact of COVID-19 on the economy, Singapore and Japan commit to keep markets open and make utmost effort to prevent stagnation of economic activities while securing the functions of supply chains which support supply of essential goods; and
  2. Forecasting future situations after COVID-19 is over, the countries will discuss measures for building strong economies robust against crises through such efforts as promoting cooperation in the digital field and advancing collaboration toward signing of the RCEP agreement by the end of 2020.

In addition, the ministers agreed on issuance of the Joint Statement on Facilitating Resilient Economic Activities, aiming to deepening bilateral cooperation and facilitating close collaboration with like-minded countries in order to alleviate the negative impact of COVID-19 on the global economy.

2. Inauguration of a Digital Transformation (DX) Platform

The two ministers agreed to inaugurate a DX Platform, an online tool for promoting inter-company collaboration between Japan and ASEAN economies or other countries, as  public-private cooperation in the field of digital economy, and also agreed to promote DX, a new digital shift whose importance is increasing from the viewpoint of enhancing economic resilience in Japan and ASEAN economies.
 
Under this platform, the two countries will strive to engage in digitalization of supply chains as well as industrial collaboration and M&A between companies in Japan and ASEAN economies in the industries related to remote services, e.g., remote medical services and remote educational services.

3. Links to the related information

Division in Charge

Asia and Pacific Division, Trade Policy Bureau

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