On Wednesday, March 28, from 6:00 p.m. for around 45 minutes, Prime Minister Yoshihiko Noda held a meeting with Sen. Prof. Mario MONTI, President of the Council of Ministers of the Republic of Italy, at the Prime Minister's Office. An outline of the meeting is as follows.

Following the Summit, from 6:50 p.m., the two leaders held a joint press announcement at the Prime Minister's Office in which they introduced the significance and content of the day's meeting.

1. Opening
   Prime Minister Noda welcomed Prime Minister Monti to Japan and expressed his gratitude for the collaboration and support from Italy after the Great East Japan Earthquake, including the attendance of Italian President Giorgio Napolitano at the Reception in Commemoration of the Great East Japan Earthquake. In response, Prime Minister Monti offered his condolences and stated that he had been moved by the resolute response of the Japanese people after the disaster.
   
   
2. The European Debt Crisis and Reform in Italy
   Prime Minister Noda stated that Japan supported the series of efforts for reform undertaken by Prime Minister Monti for fiscal reconstruction and economic growth and that Japan would consider the purchase of European Financial Stability Facility (EFSF) bonds and the cooperation on strengthening the fiscal base of the International Monetary Fund (IMF), while closely watching the efforts made by each European country. In response, Prime Minister Monti expressed his gratitude to Japan for its purchase of EFSF bonds, stating that Italy has been promoting the reform of the economy and financial system in Italy and this contributed to efforts to overcome the Eurozone crisis.
   
   
3. Economic Partnerships / Cooperation toward Growth, the Japan-European Union (EU) Economic Partnership Agreement (EPA), etc.
   Prime Minister Noda said that Japan was working toward the comprehensive reform of social security and taxation systems as well and that he hoped the two countries could share their knowledge and experience on the matter. The two leaders shared the views that they would collaborate toward the G8 and G20 summit meetings, that there is a need for policies to encourage economic growth as well as the reinforcement of fiscal regulations in Japan and Europe, and that a Japan-EU EPA would be important for economic growth through the expansion of trade and investment. Prime Minister Noda explained that responding to the interest shown by the EU-side, including with regard to non-tariff measures, he had been exercising his leadership in working on regulatory and institutional reform. In response to this, Prime Minister Monti stated that work on non-tariff measures in Japan were necessary.
   Prime Minister Noda raised the issue of the Agreement on Social Security between Japan and Italy, commenting that over three years had passed since the signing of the agreement and stating that given that it was also beneficial for Italy, he hoped it would be submitted to and approved by the Italian Parliament at an early date. In response, Prime Minister Monti commented that as austerity measures were being implemented in order to balance the government budget in 2013, the situation was such that it was not possible to undertake the budgetary measures necessary to secure the fiscal resources for the conclusion of the Agreement, but that he would pay close attention to this matter in the future.
   
   
4. Cooperation in the International Arena
   The two leaders had an exchange of opinions on the situation in North Korea and Iran. Prime Minister Noda pointed out that North Korea's launch of a missile under the guise of a "satellite" was clearly a violation of relevant resolutions of the United Nations (UN) Security Council. He stated that he wished to continue to collaborate with other countries, including Italy, and strongly urge North Korea to exercise restraint. In addition, Prime Minister Noda expressed concern on the Iranian nuclear issue. He explained the position of Japan on the EU's measures for insurance and reinsurance in relation to the transportation of Iranian crude oil, and said that he wished to continue to cooperate closely with the EU. In response, Prime Minister Monti shared his concerns related to North Korea and Iran, said that he understood Japan's position on the insurance and reinsurance of Iranian crude oil, and added that he wished to respond to the situations appropriately.
   
   
5. Other matters
   Prime Minister Noda communicated the decision of Japan to participate in Expo Milano 2015. Prime Minister Monti welcomed this decision.