Japan, Australia Show Strong 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 a meeting with Albanese in the Australian capital of Canberra, Takaichi expressed hope that their countries "will take the lead toward regional peace under the updated free and open Indo-Pacific vision," which she recently unveiled.

Albanese said that it is important for both countries to strive to bring peace, stability and security to the region.

In the joint declaration, the two leaders underscored their countries' commitment to "sharing information and consulting with each other on economic security contingencies."

[Copyright The Jiji Press, Ltd.]