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Overseas Economic Cooperation Council

The Fourth Meeting of the Overseas Economic Cooperation Council


1.The Fourth Meeting of the Overseas Economic Cooperation Council was held on November 9, from 17:00 to 18:00. Prime Minister, Chief Cabinet Secretary, Minister for Foreign Affairs, Minister of Finance, Minister of Economy, Trade and Industry attended the meeting.
 
2.At the meeting, issues on economic cooperation with Asia were discussed. It was confirmed that Japan will actively extend economic cooperation to the region in accordance with the following four points:
sharing and consolidating such values as freedom, rule of law, democracy, human rights, and the market economy;
ensuring peace and safety in the region through efforts relating to fight against terrorism, peace-building, and the sea-lane security;
attaining balanced economic development within the region;
deepening regional cooperation in the areas of EPA/FTA networks, financial and capital markets, energy security, and cross-border issues such as natural disasters and pandemic influenza.
 
3.On the third point, "attaining balanced economic development within the region," the following aspects were considered to be of particular importance, given the varying levels of economic development in the region:
strengthening support for newer ASEAN member countries such as Vietnam particularly in the area of nation-building and the Mekong sub-region development;
assisting medium-developed ASEAN countries such as Indonesia particularly in the area of in improvement of basic infrastructures and institutions which ensure sustainable economic development;
cooperating with developed ASEAN countries such as Thailand with a view to promoting further economic growth by mobilizing the dynamics of the private sector, including international financial operations by JBIC and private funds;
supporting India in the area of poverty reduction through economic growth and promotion of economic exchanges with a view to strengthening the bilateral strategic partnership.
 
4.It was also agreed that Japan will further promote cooperation with international organizations such as the World Bank, the Asian Development Bank, and the United Nations Development Program in the context of implementation of overseas economic cooperation with Asia.