In recent years, Japan has been the world’s forerunner in the field of economic security, setting up an economic division within the National Security Secretariat, creating a ministerial post and enacting the Economic Security Promotion Act. At the same time, it has been taking the initiative to build an international cooperation framework for that purpose.
Japan made a lot of achievements last year in particular. In May, it hosted the Group of Seven Hiroshima Summit, leading the issuance of a first joint statement on economic security from the G7. Japan, together with the United States and South Korea, also set up a trilateral dialogue on economic security at the Camp David Summit in August.
In October, the Ministry of Economy, Trade and Industry released an action plan on economic security that aims to enhance Japan’s industrial and technological infrastructure through promoting and protecting industries, while stressing the importance of global partnerships.