Japan and the UK have agreed to work together in several areas, including defence, clean energy, and cybersecurity.
British Prime Minister Rishi Sunak is currently in Japan attending talks ahead of the Group of Seven summit in Hiroshima.
He announced that Japanese companies had committed to investing £17.7 billion in clean energy projects, including in funding for offshore wind and low carbon hydrogen.
More than half the investment promised by Japan will come from the trading house Marubeni Corp and will help fund offshore wind and green hydrogen projects in Scotland and Wales.
The two Prime Ministers said the deal also included a partnership for semiconductors that is set to improve the supply chain for these components. Semiconductors are vital for automobiles, defence technology and many modern consumer products.
The deal also involved “new commitments to pursue ambitious R&D cooperation and skills exchange, strengthening our domestic sectors and bolster supply chain resilience in an increasingly competitive market,” the UK government said in a statement.
Japan and Britain also agreed to “ensure diverse, resilient, and sustainable critical mineral supply chains needed for clean energy technologies,” Japan’s trade ministry said in a statement. It said the cooperation would also aim to improve standards in the industry. Mining of such minerals has often been plagued with labour abuses and environmental damage.
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Image Credit © Simon Walker /HM Treasury