Kishida, Biden to Agree on Closer Economic Cooperation

Politics

Tokyo, May 16 (Jiji Press)--Japanese Prime Minister Fumio Kishida is seeking to agree with U.S. President Joe Biden to strengthen bilateral cooperation in research, development and production of semiconductors in a meeting next week, sources said Monday.

There may be an announcement of trillions of yen in investment, the Japanese government sources said.

In their talks in Tokyo on May 23, Kishida and Biden are also expected to affirm cooperation in the Indo-Pacific Economic Framework, which the United States aims to launch this month.

"I will make the utmost efforts to further strengthen the Japan-U.S. alliance and achieve concrete results to realize a free and open Indo-Pacific," Kishida said on the summit with Biden at a liaison meeting between the government and the ruling parties Monday.

The importance of semiconductors as a strategic item is increasing due to the continued global supply shortages amid the novel coronavirus pandemic and the U.S.-China competition for dominance in the high-tech product market.

[Copyright The Jiji Press, Ltd.]

Jiji Press