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

10:04-10:12 a.m.
Friday, November 10, 2023
Press Conference Room, METI Main Building

Opening Remarks

Official visit to the United States

I will officially visit San Francisco, the United States, from November 12 to 17 to attend the APEC Ministerial Meeting and the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial Meeting.
At the APEC Ministerial Meeting, I would like to have thorough discussions on how APEC will cope with a wide range of issues, such as sustainable growth, achievement of an innovative environment, building of a free and fair economic order, WTO reform, and strengthening of supply chains.
At the IPEF Ministerial Meeting, members will engage in discussion with the aim of generating concrete outcomes in three areas, namely trade, a clean economy, and a fair economy. The Supply Chain Agreement, for which member countries substantially reached a consensus this May, is scheduled to be signed. Additionally, Japan will hold the Economic "2+2" meeting with the United States, our ally, to discuss concrete measures for strengthening economic security. Furthermore, a roundtable meeting is scheduled for dialogue with CEOs of AI and semiconductor-related companies that are clustered in Silicon Valley. We will take this opportunity to hold an opening ceremony for Japan's support base for startups in Silicon Valley. I would also like to have bilateral meetings with individual participating ministers to strengthen ties and create relationships of trust.

Question-and-Answer Session

IPEF

Q: Regarding the IPEF Ministerial Meeting, there seem to be differences with emerging countries for some pillars. If member countries fail to reach an agreement or if an agreement is reached with some issues left, will the regular holding of the Ministerial Meeting or other measures be requested? Could you explain the Government of Japan's stance?

A: The IPEF aims to create trade rules to facilitate and digitalize trade, strengthen supply chains, and introduce a clean economy and clean energy, or in other words create a new economic order suited for the 21st century.
I engaged in the negotiations at the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), but the IPEF also includes major countries in the Global South such as India, Indonesia, the Philippines, and Thailand that are not members of the CPTPP. The IPEF thus consists of countries that voluntarily gather to discuss market access broader than that of the CPTPP toward creating rules for the new era or a new economy, although they do not discuss tariffs.
The Government of Japan has been leading relevant discussions together with the United States and advocating the need for individual countries to commit to adopting such new rules suited for the 21st century. We intend to make rules promoting trade and investment, supporting human resources development and shifting to clean energy, while emphasizing that these are also beneficial for emerging countries, as you mentioned.
Negotiations are underway and we will discuss the final focal issues at the coming Ministerial Meeting. Therefore, I will refrain from making comments based on any predictions at this point in time, but I will work hard to generate outcomes by establishing an agreement that balances high-level rules suited for the 21st century and advantages for emerging countries.
It would be better if member countries can reach agreements on all areas, but there are some points of contention. Nevertheless, I will do my utmost to help form a consensus. Even if there remain some issues requiring more deliberations, we would like to continue discussions to finalize a framework suited for the 21st century.