Aiming for a reliable supply chain, Japan considers taking China-related issue to WTO

G7: Towards a reliable supply chain, Japan considers bringing a China-related issue to the WTO. Illustration photo. (Source: APA)

The ongoing conflict in Ukraine and disagreements between major economies over chips and advanced technology, among other issues, have highlighted the importance of economic security and sustainable supply chains for minerals vital to the production of computer chips and batteries.

On October 28, Trade Ministers of the Group of Seven (G7) leading industrialized countries met in Osaka, Japan, focusing on the topic of strengthening supply chains of essential minerals and other goods to ensure economic security.

During the two-day meeting, ministers aim to strengthen cooperation with a number of emerging and developing economies invited to the meeting for the first time. These countries play an important role in building strong supply chains, an issue that is becoming increasingly urgent in today's complex geopolitical environment.

At the expanded session on the first day of the conference, India, which holds the role of Chair of the Group of 20 (G20) leading developed and emerging economies this year, along with Australia, Chile, Indonesia, Kenya, and international organizations such as the World Trade Organization (WTO), are planning to discuss with the G7 ways to diversify the distribution system of important minerals.

The conference was co-chaired by Japanese Trade Minister Yasutoshi Nishimura and Japanese Foreign Minister Yoko Kamikawa. The two ministers are expected to announce the results of the conference at a press conference on October 29.

The Japanese Trade Minister said that the parties want to move towards common principles for sustainable and reliable supply chains with partner countries, international organizations, and invited representatives of manufacturers.

The agenda for the final day of the meeting is expected to include reform of the WTO's dispute settlement system.

In response to China's ban on seafood imports from Japan after Japan discharged wastewater from the Fukushima No. 1 nuclear power plant into the Pacific Ocean, Japan is considering taking the issue to the WTO.

This is the second meeting of G7 trade ministers this year. The first meeting took place online in April.