Japan proposes cooperation with ASEAN to strengthen supply chains

Japan's economy minister has proposed a project to work with the Association of Southeast Asian Nations to strengthen supply chains by sharing data between companies.

Economy, Trade and Industry Minister Nishimura Yasutoshi made the proposal at a meeting with his ASEAN counterparts in Cambodia on Sunday.

Nishimura said every region is being impacted by increasing geopolitical uncertainty, and that it is important for Japan and ASEAN to work together to overcome challenges.

The project includes active sharing of inventory, logistics and other data between Japanese firms and their business partners in ASEAN countries.

It also seeks to promote information collaboration among Japanese companies.

Japan is said to lag behind US and European firms in the field of data coordination, making the country less competitive in the ASEAN region.

Nishimura told reporters that Japan regards ASEAN as the most important region for further growth of the industrial base.