Rare earths and cutting business red tape in focus as EU, Japan eye economic upgrade
Strategic joint procurement of critical raw materials and tighter business-to-business links are set to form the backbone of a new 'EU-Japan Competitiveness Alliance,' according to a draft summit communiqué seen by Euractiv.
The initiative, first reported by Japan-based weekly Nikkei, signals a major ramp-up in EU-Japan cooperation, touching on economic security, industrial policy, and supply chain resilience, and is expected to be launched when EU and Japanese leaders meet in Tokyo on Wednesday.
“Both sides will accelerate joint efforts to monitor and strengthen supply chains in strategic sectors and identify strategic goods and sectors for further cooperation under the expanded High-Level Economic Dialogue,” the latest draft of the summit text states.
Initial cooperation will focus on critical raw materials and battery value chains, especially for clean tech and digital industries, though future expansion “could extend to other sectors in the future,” both sides are expected to say.
A new "economic two-plus-two" dialogue will bring together Japan’s foreign and economy ministers with the EU's Trade Commissioner, Maroš Šefčovič,