EUโ Eyes โขDeeper Economic Security โPartnership โwith Japan
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BRUSSELSโ –
Teh European Unionโข is actively seeking to strengthen economic cooperation with โJapan, especially inโค areas critical toโค future industrial competitiveness adn security, according โto statements made by European Commission Executive โขVice President Stephane Sejourne on Friday. โคthe announcement โprecedesโ Sejourne’s first official visit to Japan sence assumingโข his role.
Addressing Global Economic Challenges
Sejourne emphasized the โฃneed for โa united frontโค with partners who share core values,specifically citing the challenges posed by โChina’s industrial overcapacity and โthe potentialโค for protectionist trade measures from the United States,particularly in light ofโ past rhetoric from โformer President Donald Trump. โข “The EU needs to cooperate with Japan as partners withโ shared โฃvalues,”โฃ Sejourne stated, framing theโค collaboration as essentialโ for navigating a โขcomplex โขglobal โฃeconomic landscape.
Focus Areas: Minerals,Batteries,and Biotech
The upcoming visit will prioritize discussions around securingโฃ access to critical minerals,bolstering the โelectricโฃ vehicle battery supply chain,and fosteringโ innovation โin biotechnology.โ โSejourne will be accompanied โby a delegation of EU business leaders, aiming to facilitate โconcrete partnerships and investmentโข opportunities inโ theseโ key sectors.โข the goal isโฃ to โestablish robust and resilient supply chains less vulnerable to geopolitical disruptions.
Lessons Learned from Energy โDependence
Sejourneโค underscored the importance of diversifying supply sources and โreducing โขdependence on single suppliers, โขdrawing a direct parallel to the EU’s past reliance on โคRussian gas. “The EU’s past energy policy โof depending on Russian โgas was a mistake.Dependence โขleads toโฃ weaknesses,” he cautioned, highlighting the strategic imperative of economic security.
Japan as a Model for Strategic Stockpiling
Toโค address theseโฃ vulnerabilities, the EU is exploring the establishment of โคaโ joint procurement and โฃstockpiling mechanism forโฃ strategic materials. sejourne pointed โขto Japan’s efforts to lessen its reliance on China โขfor rare earth elements – vital components in battery production – asโ a accomplished โmodel to emulate.โฃ This initiative aims to ensureโ theโค EU has โaccess โคto the โคresources needed to maintain its industrial base andโ technological leadership.