Key insights
- Japan and Mexico are increasing energy cooperation amidst supply disruptions from the Iran war. While this agreement aims to mitigate global energy risks, its immediate impact on US equities is limited. The focus on economic security and trade could have longer-term implications for global supply chains.
TOKYO, April 21 (Reuters) - Japan’s Prime Minister Sanae Takaichi and Mexico’s President Claudia Sheinbaum spoke by phone on Tuesday and agreed to enhance their cooperation on energy, Japan’s foreign ministry said, as the Iran war disrupts global oil and gas supplies.
Takaichi also proposed establishing a dialogue framework, including economic security, with Mexico, a nation endowed with rich mineral resources, the ministry said.
The Japanese premier requested Mexico’s cooperation in building a favourable environment for Japanese companies operating there, and the two leaders agreed to strengthen trade relations, according to the ministry.
Sheinbaum called the conversation "very productive" in a post on X.
"We discussed the importance of strengthening relations between the two countries in the areas of investment, trade and cooperation," she added.