NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%
NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%

France and Japan Strengthen Ties, Call for Ceasefire in Middle East

French President Emmanuel Macron visited Japan on Wednesday, meeting with Japanese Prime Minister Sanae Takaichi to discuss strengthening bilateral ties and promoting international cooperation. The two leaders emphasized their commitment to upholding international law, the international order, and democratic values.

During a joint news conference at the Akasaka Palace in Tokyo, Macron and Takaichi called for a ceasefire in the Middle East, specifically in the Strait of Hormuz. They emphasized the need for a swift de-escalation of the conflict and the importance of securing the safety of the vital waterway and the stable supply of goods. The Strait of Hormuz is a critical chokepoint for global oil supplies, and its security is of utmost concern to both France and Japan.

Macron and Takaichi also agreed to deepen their cooperation in defense, rare earths development, nuclear energy, space, and other areas. This cooperation includes a joint rare earths project, which aims to reduce Japan's reliance on China, the dominant global producer of rare earths. Rare earths are essential for the production of powerful, heat-resistant magnets used in industries such as defense and electric vehicles.

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CountryGlobal Production of Rare Earths
China85%
United States4%
Australia3%
Japan2%
Other countries6%

In addition to the rare earths project, Macron and Takaichi agreed to cooperate in the development of a fast reactor and nuclear fuel recycling program. Japan has been struggling with the development of this technology, and French expertise is expected to be invaluable in this regard.

Macron's visit to Japan comes at a time of increasing tensions in the region. U.S. President Donald Trump has been critical of Europe's lack of support for the U.S.-Israeli war, and Macron's comments on the Strait of Hormuz were seen as a response to Trump's assertion that the responsibility for keeping the strait open would be on countries that rely on it. However, Macron did not mention Trump or his comment at the news conference.

On Thursday, Macron and Takaichi are scheduled to visit a company specializing in space debris removal technology as part of their cooperation in the area of space. Macron will also have a courtesy meeting with Emperor Naruhito and a palace lunch before heading to South Korea.

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