In light of a summit held between Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump, Japanese and U.S. semipublic institutions decided on Nov. 7 to cooperate in infrastructure export to the Indo-Pacific region. They aim to extend support to investments that Japanese and American firms will make in energy, telecommunications, transport, and other fields.
The representatives of the Japan Bank for International Cooperation (JBIC), the Nippon Export and Investment Insurance (NEXI) and the Overseas Private Investment Corporation (OPIC) of the U.S. signed memorandums of understanding in Tokyo on Nov. 7.
Prime Minister Abe and President Trump agreed to jointly advance the “Free and Open Indo-Pacific Strategy” during their summit talks on Nov. 6. Japan and the U.S. will work together to tap infrastructure demand in this region, with an eye on China’s aggressive pitch in infrastructure projects under its “One Belt, One Road” initiative.