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Japanese Prime Minister Sanae Takaichi introduced the 'POWERR Asia' framework to the leaders present at the G7 Summit and proposed strengthening global oil stockpiles in collaboration with the International Energy Agency.
During the discussion on West Asia, where she was joined by the leaders of Egypt, Qatar, and the UAE, the Japanese PM highlighted the importance of free and safe navigation in the Strait of Hormuz and introduced 'POWERR Asia' initiative of Japan. In a post on X she said, "I also introduced "Power Asia," which Japan has launched, and proposed supporting the strengthening of oil stockpiles in various countries in collaboration with the International Energy Agency (IEA), which received support." "Partnership On Wide Energy and Resources Resilience (POWERR Asia)" is a new cooperation framework which was introduced by Japanese PM Sanae Takaichi earlier this year in April for providing emergency responses through financing procurement of crude oil, petroleum products, maintaining supply chains in Asia along with securing critical minerals and diversifying energy resources. In her discussions with US President Donald Trump, she welcomed the peace agreement between the United States and Iran and discussed implementing the Japan-U.S. agreement on tariffs. The two countries also discussed closer communication on key areas, including China. "We also confirmed that we will continue close communication on responses to international situations surrounding the Indo-Pacific region, including China, and the Middle East. Takaichi also provided insights into the discussion held on Ukraine and said that the grouping would continue to collaborate with Kiev to achieve peace. She said on X, "I emphasized that we must not tolerate attempts to unilaterally change the status quo by force, including Russia's invasion of Ukraine. I also expressed concerns about military cooperation between Russia and North Korea, as well as the strengthening of military ties between Russia and China." https://x.com/takaichi_sanae/status/2067077661109969303?s=20 Takaichi also met Prime Minister Narendra Modi on the sidelines of the G7 Summit in the alpine resort town as they discussed enhancing economic cooperation, stating trade and investment as priorities. https://x.com/narendramodi/status/2066942899854655915?s=20 Earlier, discussions were held on geopolitical developments, including the Russia-Ukraine crisis, the security situation in West Asia and the challenges posed by China during the working dinner between G7 countries, Japanese Prime Minister Sanae Takaichi said on Tuesday. (ANI)
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