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Minister Muto Visits Lima, the Republic of Peru
November 18, 2024
Mr. Muto Yoji, Minister of Economy, Trade and Industry, visited Lima, the Republic of Peru, and attended an APEC Ministerial Meeting held on November 14, 2024 (local time). Under the APEC theme of “Empower. Include. Grow.,” which was upheld by Peru, the host economy, he took part in discussions on the liberalization and facilitation of trade and investment and the energy transition to achieve decarbonization. In addition, he exchanged views with other representatives of APEC economies on cooperation in making the ministerial meeting successful as well as on bilateral economic ties.
1. APEC Ministerial Meeting
Under the co-chairmanship of H.E. Mr. Elmer Schialer, Minister of Foreign Affairs, and H.E. Ms. Desilú León, Minister of Foreign Trade and Tourism of Peru, the host economy in 2024, an APEC Ministerial Meeting was held in Lima, Peru. Minister Muto participated in the meeting as a representative of the Ministry of Economy, Trade and Industry (METI). (Mr. Iwaya Takeshi, Minister for Foreign Affairs, also participated as a representative of the Ministry of Foreign Affairs.)
At the meeting, participants held proactive discussions according to the agenda on topics such as trade and investment for inclusive and interconnected growth, including the WTO’s roles, and sustainable growth for resilient development, including a just energy transition.
The main remarks made by Minister Muto were as follows:
- Supporting new business establishments and startups is a key policy in promoting the transition to the formal and global economies. Japan will continue to deepen its collaboration with other economies to enhance innovation in the Asia-Pacific region.
- It is important to achieve a stable energy supply, economic growth, and decarbonization at the same time and pursue the common goal of net zero through various pathways. Through efforts under the Asia Zero Emission Community (AZEC), a platform aiming to realize decarbonization, economic growth, and energy security tailored to each Asian economy, Japan will also contribute to the energy transition across the APEC region and global decarbonization.
- Aiming at maintaining and strengthening the rules-based international economic order, Japan will commit to restoring and strengthening the WTO’s functions as well as securing a level playing field under severe competition on industrial policy among major economies. In addition, regarding investment, it welcomes the work for revising the APEC Investment Facilitation Action Plan. Moreover, it will contribute to developing quality infrastructure through the efforts of peer review and capacity building involving legal systems related to such infrastructure. Furthermore, it will facilitate the digitalization of trade procedures, which will contribute to establishing resilient supply chains as well.
As outcome documents the meeting adopted a joint ministerial statement and also compiled the Ichma Statement on a New Look at the Free Trade Area of the Asia-Pacific Agenda and the Lima Roadmap to Promote the Transition to the Formal and Global Economies (2025-2040).
2. Bilateral meetings with participants in the APEC Ministerial Meeting
Minister Muto exchanged views with representatives of participating economies on cooperation in making the APEC Ministerial Meeting successful as well as on bilateral economic ties.
1. Meeting with H.E. Mr. Wang Wentao, Minister of Commerce, China
Minister Muto stated the extreme importance of ensuring the security of company staff involved in business in China and securing a transparent and fair business environment, and strongly requested China to ensure safety for Japanese people in the country, the appropriate operation of its export control measures, and the correction of its preferential treatment of domestic products. Moreover, in light of the announcements made by their respective governments regarding the discharge of ALPS treated water into the sea and China’s import restrictions on Japanese aquatic products, Minister Muto called for the early restoration of imports of such products.
The two ministers appraised the steady implementation of the Japan-China Export Control Dialogue and the Japan-China Business Environment Facilitation Working Group, which are bodies newly established between METI and the Ministry of Commerce, China, in 2023. They also welcomed the convening of the second Japan-China Service and Trade Policy Dialogue in Beijing in December 2024. The two sides also exchanged views on Expo 2025 Osaka, Kansai, Japan.
Moreover, the ministers agreed to meet regularly for close communication by utilizing a variety of opportunities.


2. Meeting with H.E. Mr. Pichai Naripthaphan, Minister of Commerce, the Kingdom of Thailand
Minster Muto encouraged Thailand to collaborate to further enhance Japan-Thailand investment and business ties. Following this, the two sides exchanged views on the field of trade, including the WTO, as well as on Expo 2025 Osaka, Kansai, Japan. In addition, they exchanged opinions on investment in Thailand and agreed that the two countries will continue to collaborate.


3. Meeting with H.E. Mr. Budi Santoso, Minister of Trade, the Republic of Indonesia
Minister Muto congratulated Minister Budi for taking office as minister of trade in October 2024. Following this, the two sides exchanged views on the field of trade, including the EPA, RCEP, and WTO, as well as on Expo 2025 Osaka, Kansai, Japan. They also agreed that the two countries will continue to enrich bilateral economic ties.


4. Meeting with H.E. Ms. Mary Ng, Minister of Export Promotion, International Trade and Economic Development, Canada
The two ministers welcomed the development of economic ties between Japan and Canada. They also exchanged views on cooperation in the G7, WTO, and CPTPP as well as on Expo 2025 Osaka, Kansai, Japan.


Related Materials
- JOINT MINISTERIAL STATEMENT -35th APEC MINISTERIAL MEETING 2024 Lima, Peru-(PDF:234KB)
- Chair´s Statement APEC PERU 2024(PDF:31KB)
- Ichma Statement on A New Look at the Free Trade Area of the Asia-Pacific agenda(PDF:133KB)
Related Link
Division in Charge
APEC Office, Trade Policy Bureau