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November FY2022
Minister Nishimura Attends APEC Ministerial Meeting

Minister Nishimura Attends APEC Ministerial Meeting

November 18, 2022

Mr. Nishimura Yasutoshi, Minister of Economy, Trade and Industry, visited Bangkok, Thailand, where he attended the APEC Ministerial Meeting on November 17.
Minister Nishimura also met with H.E. Mr. Jurin Laksanawisit, Thailand's Deputy Prime Minister and Minister of Commerce, and other representatives of each economy, with whom he exchanged views on cooperation toward the success of the meeting and bilateral economic relations.

1. APEC Ministerial Meeting

The APEC Ministerial Meeting was held in Bangkok under the chairmanship of this year's co-Chairs, H.E. Mr. Jurin Laksanawisit, Thailand's Deputy Prime Minister and Minister of Commerce, and H.E. Mr. Don Pramudwinai, Thailand’s Deputy Prime Minister and Minister of Foreign Affairs. Minister Nishimura participated from METI (Mr. Hayashi Yoshimasa, Minister for Foreign Affairs, participated from MOFA).

At the meeting, there were energetic discussions focused on themes such as support for multilateral trade systems and post-COVID-19 trade and sustainable growth, and there was support for the Bangkok Goals for achieving the BCG Economy Model for enabling sustainable economic growth.

The main remarks made by Minister Nishimura were as follows:

Russia's aggression against Ukraine has produced an energy security crisis, including soaring energy prices. He strongly condemned it as absolutely unacceptable.
He stressed that it is essential to build a free and fair economic order in the Asia-Pacific region, and that action must be progressively taken to rectify market-distorting measures and economic coercion.
He recognized the need for the WTO to be reformed in preparation for MC13.
He called on the importance of supply chain resilience, the use of digital technology, and the DFFT philosophy based on the use of the initiative, all of which form an important industrial foundation for sustainable growth.
He expressed concern over the soaring energy prices and stated the need to achieve carbon neutrality through realistic energy transitions in the APEC region while ensuring a stable supply of energy.

2. Bilateral meetings during the APEC Ministerial Meeting

Minister Nishimura met with H.E. Mr. Jurin Laksanawisit, Thailand's Deputy Prime Minister and Minister of Commerce, and other representatives of each economy, with whom he exchanged views on bilateral economic relations and cooperating toward making the meeting a success.

(1) Meeting with H.E. Mr. Jurin Laksanawisit, Thailand's Deputy Prime Minister and Minister of Commerce

Minister Nishimura held a meeting with the APEC chair, H.E. Mr. Jurin Laksanawisit, Thailand's Deputy Prime Minister and Minister of Commerce. The Minister said he would cooperate to make APEC successful, and the two sides discussed strengthening cooperation in areas such as the formulation of the ASEAN-Japan Business Co-Creation Vision toward the 50th anniversary of friendship and cooperation between Japan and ASEAN next year, trade issues, and other topics.

(2) Meeting with H.E. Dato Lim Jock Hoi, Secretary-General of ASEAN

Minister Nishimura expressed his respect for H.E. Dato Lim Jock Hoi, Secretary-General of ASEAN, for serving as the Secretary-General for five years, and the two sides exchanged views on cooperation toward deepening relations between Japan and ASEAN, including the RCEP Agreement and the energy field, toward the 50th Year of ASEAN-Japan Friendship and Cooperation next year.

(3) Meeting with H.E. Katherine Tai, U.S. Trade Representative

Confirming the importance of intensive discussions and the steady progress on the IPEF, the two principals discussed collaboration for the G7 Trade Ministerial Meeting 2023 chaired by Japan. In addition, Minister Nishimura voiced his concerns about the EV tax credits under the U.S. Inflation Reduction Act.

(4) Meeting with Hon. Mr. Damien O'Connor, Minister for Trade and Export Growth, New Zealand

Both sides discussed cooperation in the field of trade based on the relationship between the two countries as strategic cooperative partners. They discussed topics such as APEC, RCEP, IPEF, and future negotiations and discussions part of the CPTPP, which will be chaired by New Zealand next year.

(5) Meeting with H.E. Mr. Alfredo Pascual, Secretary of the Department of Trade and Industry, the Philippines

Minister Nishimura met with H.E. Mr. Alfredo Pascual, Secretary of the Department of Trade and Industry, county coordinator within ASEAN for Japan (related to the Economic Ministerial Meeting). Both sides exchanged views on deepening cooperation between Japan and ASEAN in areas such as the formulation of the ASEAN-Japan Business Co-Creation Vision toward the 50th anniversary of friendship and cooperation between Japan and ASEAN next year.

(6) Meeting with Hon. Mr. Richard Maru, Minister for International Trade and Investment, Papua New Guinea

Both sides discussed future cooperation between the island countries, the stable supply of LNG, and other topics. They also confirmed that they would further deepen economic relations between the two countries.

Division in Charge

APEC Office, Trade Policy Bureau

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APEC