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  5. Minister Nishimura Signs Memorandum of Cooperation on Critical Minerals with the Department for Business and Trade of the United Kingdom

Minister Nishimura Signs Memorandum of Cooperation on Critical Minerals with the Department for Business and Trade of the United Kingdom

October 28, 2023

On Saturday, October 28, 2023, Mr. Nishimura Yasutoshi, Minister of Economy, Trade and Industry, held a meeting with H.E. Ms. Kemi Badenoch, Secretary of State for Business and Trade of the U.K., during the G7 Trade Ministers’ Meeting held in Sakai, Osaka Prefecture, and signed a memorandum of cooperation on critical minerals.

1. Overview

On Saturday, October 28, 2023, Minister Nishimura held a meeting with H.E. Ms. Kemi Badenoch, Secretary of State for Business and Trade, during the G7 Trade Ministers’ Meeting held in Sakai, Osaka Prefecture. The two sides signed a memorandum of cooperation (MOC) on critical minerals. This is the first time for Japan to sign an MOC between a consuming country in the field of critical minerals. Through this MOC, Japan and the U.K. will aim to promote collaboration between their governments and companies and strengthen bilateral ties in the field of critical minerals, including accelerating innovation, developing transparent markets, and shared investments in projects globally.

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2. Key points of the MOC

Through this MOC, the two countries will establish a framework for deepening cooperation  and promoting dialogue on critical minerals and will cooperate in the following fields.

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