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Statement by Kengo Sakurada, Chairman of Keizai Doyukai
on Outcome of U.S.-Japan Summit Meeting

May 23, 2022

Kengo Sakurada
Chairman, Keizai Doyukai

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  1. The summit meeting between Prime Minister Kishida and President Biden, who visited Japan for the first time after his presidential inauguration, has affirmed the strong bond of the two nations and the shared values. We welcome it. In the meeting, the president has clarified the strengthened engagement of the United States in the Indo-Pacific region. Amid the rising tensions in Japan's national security environment and the wavering international order, it is of great significance that the U.S. and Japan have committed to lead the region's peace, stability, and prosperity through close partnership.
  2. The Indo-Pacific Economic Framework (IPEF) has been launched today. The IPEF is expected to be a foundation for nations, which share values such as freedom and democracy, the rule of law, and respect for human rights, to conduct rules-based, sustainable, and stable economic activities. We hope that the U.S.-Japan relationship will be even closer through this framework, while expecting Japan, as a partner of the United States, to lead its rule-making that will contribute to make the framework more workable, thereby increasing the number of participating countries in and out of Asia.
  3. Today, corporate economic activities can never be pursued without thorough considerations of the national foreign and security policies. Against such a backdrop, the summit meeting has reaffirmed the U.S.-Japan cooperation and partnership in the sphere of economic security, such as in robust supply chains of semiconductor, export controls of advanced technologies, and the energy sector. Thus, we, business leaders, must shoulder the responsibility to embody in the business ground the two leaders' unwavering determinations to the world.

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