Japan, Australia Show Concerns over Export Restrictions

Canberra, May 4 (Jiji Press)--Japanese Prime Minister Sanae Takaichi and her Australian counterpart, Anthony Albanese, on Monday expressed "strong concerns" over export restrictions on key minerals, with China's economic coercion in mind.

"We express our strong concerns over all forms of economic coercion, and the use of nonmarket policies and practices that are leading to harmful overcapacity and market distortions, as well as export restrictions, particularly on critical minerals, that could have a significant negative impact on global supply chains," the two leaders said in a joint declaration on economic security cooperation.

At their meeting in the Australian capital of Canberra, Takaichi and Albanese agreed to further enhance the bilateral "quasi-alliance" relationship to address China's growing influence in the Asia-Pacific region backed by its military and economic power.

"The Japan-Australia ties over the next 50 years will be even more powerful and have a stronger driving force than in the previous 50 years," Takaichi told a joint press conference after the meeting.

Albanese highlighted the two countries' close cooperation to advance their common interest in ensuring a peaceful, stable and prosperous region.

[Copyright The Jiji Press, Ltd.]