Japan and the European Union on Tuesday further strengthened cooperation over securing a stable supply of semiconductors, aiming to shield themselves from the fallout of the intensifying U.S.-China technology war.
Japanese Economy, Trade and Industry Minister Yasutoshi Nishimura and European Commissioner for Internal Market Thierry Breton signed a memorandum of understanding that prioritizes developing a mechanism for information sharing to prevent potential supply shortages of chips.
The document signed at their meeting in Tokyo also focuses on exchanging information on government subsidies for firms as part of efforts to prevent oversupply of chips.
In addition, Japan and the EU aim to boost collaboration in human resource development as well as research and development in the industry.
Japan has been trying to deepen partnerships with allies and like-minded nations to develop resilient supply chains for critical products and materials including chips, batteries and minerals in the face of heightened geopolitical and economic security risks, such as Russia's war on Ukraine and China's growing clout.
In May, Japan and the United States agreed to bolster cooperation in the development of next-generation semiconductors and affirmed the necessity for reinforcing global supply chains through multilateral engagements such as the Indo-Pacific Economic Framework, a U.S.-led economic initiative launched last year involving 14 countries in the region.