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G7 Trade Ministers’ Meeting in Osaka-Sakai Held

October 29, 2023

From Saturday, October 28 to Sunday, October 29, 2023, Mr. Nishimura Yasutoshi, Minister of Economy, Trade and Industry, visited Sakai and Osaka, and attended the G7 Trade Ministers’ Meeting in Osaka-Sakai. At the meeting, as the co-Chair, he led discussions on efforts for maintaining and strengthening the free and fair trading system and enhancing economic security. The participating ministers agreed on a trade ministers’ statement.

1. G7 Trade Ministers’ Meeting in Osaka-Sakai

(1) Outline

(2) Details of Minister Nishimura’s statements (highlights)

Minister Nishimura made the following statements in the sessions.

Outreach session on enhancing supply chain resilience (served as a moderator)

Note 1. Comments were delivered by Mr. Yasunaga Tatsuo, Vice Chair, Keidanren; Mr. Gordon McKenzie, CEO, Canpotex; Mr. Suzuki Toshihiro, Representative Director and President, Suzuki Motor Corporation; Mr. Takahara Ichiro, Chairman and CEO, Japan Organization for Metals and Energy Security (JOGMEC); Mr. Samuel Morillon, Managing Director Australia and Senior Vice President for Asia Pacific Hub, Siemens Energy; Mr. Jakob Stausholm, CEO, Rio Tinto; and Dr. Vincent D. Mattera, Jr., Chair and CEO, Coherent. As observers, representatives of the U.S. Chamber of Commerce, the Confederation of British Industry, and the Canadian Chamber of Commerce participated in the meeting.

Session 1: Trade and Sustainability -Environment, Development, and Digital- including prospects for MC13

Trade and Environment
Digital Trade
Sustainable Development and Enhancing Inclusivity

Session 2: Towards WTO MC13 (served as the Chair)

Session 3: Level Playing Field (LPF)

Session 4: Working lunch (economic coercion and enhancing supply chain resilience) (served as a chair)

(3) Outcome documents

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(4)Related Document

2. Exchanging views with participating ministers and others

(1) Meeting with H.E. Mr. Piyush Goyal, Minister of Commerce and Industry, India

The two sides exchanged views on further deepening Japan-India economic ties through such initiatives as the Japan-India industrial co-creation initiative. They also confirmed that Japan and India will continue to collaborate on global issues, including enhancing supply chain resilience.

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(2) H.E. Ms. Kemi Badenoch, Secretary of State for Business and Trade, the U.K.

Japan and the U.K., a strategic partner of Japan, confirmed the direction of collaboration in the WTO and CPTPP, and the two sides signed a memorandum of cooperation for strengthening bilateral relations in the field of critical minerals between the countries.

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(3) Meeting with H.E. Dr. Ngozi Okonjo-Iweala, WTO Director-General

The two sides exchanged views on the restoration of the dispute settlement function, the moratorium on customs duties on electronic transmissions, and a level playing field in preparation for the MC13 to be held in February 2024.

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(4) Meeting with H.E. Ms. Rebecca Miano, Cabinet Secretary for the Ministry of Investment, Trade, and Industry, Kenya

Japan and Kenya, a country with one of the largest local bases for Japanese companies developing business in Africa and attracting attention from many Japanese companies, agreed to launch an industrial policy dialogue and signed a joint statement on industrial cooperation as efforts to further deepen discussions on the field of industry.

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(5) Meeting with H.E. Dr. Zulkifli Hasan, Minister of Trade, Indonesia

Japan and Indonesia, a comprehensive strategic partner of Japan, confirmed that they will continue to work together in the field of trade, including the WTO and RCEP, in particular toward the early conclusion of the review of the Japan-Indonesia EPA. In addition, in light of the commemoration of the 50th year of ASEAN-Japan Friendship and Cooperation this year, the two sides also exchanged views on strengthening the ASEAN-Japan partnership.

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(6) Meeting with H.E. Mr. Don  Farrell, Minister for Trade and Tourism, Australia

Japan and Australia, a special strategic partner of Japan, mutually confirmed the importance of Japan-Australia collaboration, such as cooperation in the field of trade, including the CPTPP.

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(7) Meeting with H.E. Ambassador Katherine Tai, United States Trade Representative

The two sides exchanged views on WTO reform, ensuring a level playing field, taking actions to address economic coercion, enhancing supply chain resilience, and other issues, and confirmed that Japan and the U.S. will work closely together on the IPEF, placing the field of trade at the core. Also, Japan expressed its appreciation for the understanding and support of the United States regarding the discharge of ALPS treated water into the sea, and stated that it would continue to collaborate with the United States.

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(8) Meeting with H.E. Mr. Olivier Becht, Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad, France

The two sides exchanged views on critical minerals and the G7 Trade Ministers’ Meeting, focusing on economic security. They also confirmed that Japan and France will continue to work together on cooperation in innovation as well.

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Division in Charge

Multilateral Trade System Department, Trade Policy Bureau