Japan’s Takaichi pledges deeper energy cooperation with Vietnam

Takaichi signs six agreements with Vietnam, including on technology, agriculture and space, during a trip to Hanoi.Japan’s Prime Minister Sanae Takaichi says the country will boost ties with Vietnam, with a focus on energy and critical minerals.Takaichi met her Vietnamese counterpart, Le Minh Hung, on Saturday in Hanoi, where they signed six agreements on issues ranging from infrastructure to agriculture to space cooperation.Recommended Stories list of 4 itemslist 1 of 4Japan builds up its ‘southern shield’ as faith in US security cover falterslist 2 of 4Japan lifts ban on lethal weapons exports in major shift of pacifist policylist 3 of 4Philippines accuses China of using cyanide to poison South China Sea atolllist 4 of 4From Australia to Vietnam, the Iran war is fuelling demand for EVsend of list“The two sides identified economic security as a new priority area for bilateral ‌cooperation,” Takaichi told reporters after the meeting.“With regard to critical minerals … both sides agreed to strengthen close coordination to ensure stable supplies and reinforce supply chains,” she added.Hung said the two leaders also “reaffirmed the importance of resolving disputes in the South China Sea through peaceful means based on international law”.Japan and Vietnam share concerns about China’s territorial claims in the East and South China Seas, and both have sought to hedge against United States-driven trade disruptions by broadening economic and security ties.Crude oil suppliesThe push for deeper cooperation between the two states comes after ⁠new investment in Vietnam from Japan, one of its largest foreign investors, fell about 75 percent year-on-year to $233m in the first quarter, even as bilateral trade rose 12.3 percent to $13.7bn over the same ⁠period, according to Vietnamese government and customs data.Vietnam ⁠has been seeking support from Japan and other countries ⁠for oil supplies as conflict in the Middle East drives prices higher and disrupts supply chains.