LOC20:06
17:06 GMT
TOKYO, March 7 (KUNA) -- Japan and the UK on Friday reaffirmed the need for the two countries to remain defenders of a free, open, rules-based international economic order amid growing risks of fragmentation of the global economy, the Japanese government said.
During their first economic version of the "two-plus-two" talks in Tokyo, Japanese Foreign Minister Takeshi Iwaya, Economy, Trade and Industry Minister Yoji Muto and their British counterparts, David Lammy and Jonathan Reynolds also shared the view that the two countries will continue to cooperate bilaterally in areas such as their respective economic policies and economic security, while deepening discussions and cooperation together with like-minded countries in related fields, the Ministry of Economy, Trade and Industry said in a press release.
The four ministers also reconfirmed the importance of a rules-based multilateral trading system with the World Trade Organization (WTO) at its core, and agreed to continue to strengthen all of the WTO's functions, including its negotiating, monitoring, deliberative and dispute settlement functions, the ministry said.
"Deepening cooperation in strengthening supply chains, including for critical minerals, and promoting and protecting key and emerging technologies will be of great significance to the international community as a whole. Japan and the UK, which share fundamental values, will continue to work together to maintain and strengthen the international economic order based on free and fair rules," Iwaya said at a joint press conference after the meeting.
For his part, Reynolds said, "It is crucial that we counter the increasing trade fragmentation that is damaging the global economy, and that we stand up for fair rules-based international trade."
"That is why the UK and Japan have agreed to enhance our economic security partnership. Our close relationship means that we can be important partners for each other on this," the British Trade Secretary said. (end)
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