Japan’s Prime Minister Sanae Takaichi said the country will strengthen ties with Vietnam, focusing on energy and critical minerals, during a visit to Hanoi on Saturday.

Takaichi met her Vietnamese counterpart, Le Minh Hung, and they signed six agreements covering infrastructure, agriculture, and space cooperation.

“The two sides identified economic security as a new priority area for bilateral cooperation,” Takaichi told reporters after the meeting.

“With regard to critical minerals … both sides agreed to strengthen close coordination to ensure stable supplies and reinforce supply chains,” she added.

Hung said the two leaders also “reaffirmed the importance of resolving disputes in the South China Sea through peaceful means based on international law.”

Japan and Vietnam share concerns about China’s territorial claims in the East and South China Seas, and both have sought to hedge against US-driven trade disruptions by broadening economic and security ties.

The push for deeper cooperation comes after new Japanese investment in Vietnam fell about 75% year-on-year to $233 million in the first quarter, even as bilateral trade rose 12.3% to $13.7 billion over the same period, according to Vietnamese data.

Vietnam has been seeking support from Japan and other countries for oil supplies as conflict in the Middle East drives prices higher and disrupts supply chains.

Under the $10 billion Power Asia Initiative, Japan will assist in arranging crude oil supplies for Vietnam’s Nghi Son Refinery and Petrochemical Complex, Hung said.

Takaichi was also set to meet President To Lam and deliver a keynote speech at Vietnam National University, marking a decade since former Prime Minister Shinzo Abe introduced Japan’s “Free and Open Indo-Pacific” strategy.

Source: www.aljazeera.com