Press Conference by Minister Saito (Excerpt)

*Note: This is a provisional translation for reference purposes only.

10:21 to 10:28 a.m.
Friday, July 12, 2024
Press Conference Room, METI Main Building

Opening Remarks

Visit to Italy

To begin, I would like to mention one point.
From Monday, July 15, to Friday, July 19, I am scheduled to visit Calabria, Italy, to attend a G7 Trade Ministers’ Meeting.
At the meeting, ministers will take into consideration the outcomes of the G7 summit held in Apulia in June, as well as the meeting chaired by Japan in 2023. At the meeting, we will hold discussions on certain issues, including enhancing WTO functions such as dispute settlement reform, addressing non-market policies and practices, supply chain resilience for critical products, addressing economic coercion that threatens the supply chain, and trade and environmental sustainability.
Non-market policies and practices and the causes of the problem of excess  capacity, are issues that the ministers responsible for trade should focus on tackling. Japan will execute leadership in discussions on the issues, also taking into consideration the viewpoint of economic security.
G7 member countries that share the same values will strive to enhance collaboration to maintain and strengthen the rules-based international economic order.

Question-and-Answer Session

Measures for addressing the aviation fuel shortage

Q: I would like to ask you about the government’s measures for addressing the aviation fuel shortage.
Some media reports have stated that emergency measures will be taken by the public and private sectors, including securing oil tankers to transport oil from refineries to airports, along with working on imports of oil from the Republic of Korea. Could you offer a comment on what measures the government intends to take, approximately when it will announce such measures, and when it will start the measures, if the government has any rough idea?

A: Concerning the issue of the aviation fuel shortage, the Ministry of Economy, Trade and Industry (METI) and Ministry of Land, Infrastructure, Transport and Tourism (MLIT) have jointly established the Public-Private Task Force on Jet Fuel Shortage and have been holding meetings to discuss emergency measures by uniting the efforts of public and private stakeholders.
On the 16th next week, the task force will hold its third meeting and hold discussions to compile a report on future measures. In particular, it will examine specific measures, including a system to ascertain the demand, secure the supply capacity, and enhance the transportation system.
In light of the results of the discussions with public and private stakeholders on the 16th, we would like to swiftly announce these measures as soon as we finish organizing them and quickly conduct them in order to attract the growing inbound demand in Japan and link it to the further vitalization of the Japanese economy.