Japan PM Kishida stresses 'free and fair economic order' at OECD meeting

Japanese Prime Minister Kishida Fumio has stressed the importance of maintaining a free and fair rules-based economic order amid a diversifying international community.

Kishida delivered a speech on Thursday at a meeting in Paris of the Ministerial Council of the Organisation for Economic Co-operation and Development.

Japan is chairing the meeting as 2024 marks 60 years since it joined the OECD.

The prime minister pointed out that it is more difficult for countries to have a consensus as the international community has become more diversified due to many conflicts and the rise of emerging economies.

But he said that changing times and facing difficulties can be an opportunity to make people's lives wealthier.

He expressed his intention to continue cooperating with other OECD member states, noting that Japan is working to create a new growth engine by resolving issues by using the organization's expertise and knowledge.

He also stressed that Japan needs to restore its money-making ability by realizing strong wage increases and accelerating the country's capital investment.

He reiterated the importance of maintaining and expanding a free and fair economic order based on rules, with the World Trade Organization at its center.

Kishida said that Japan will work with like-minded nations to achieve a resilient economy and strengthen economic security.
Kishida also called for the OECD's cooperation in realizing secure and reliable artificial intelligence, saying the organization has the strongest advantage in the digital field.

The prime minister pointed out the necessity of involving non-OECD countries in the international community at a time of increasing uncertainty.

He said that strengthened cooperation with each region is a future that the OECD should aim for.

Kishida said that Japan, as one of the few OECD members in Asia, is committed to becoming a bridge between regions and helping the organization to lead the global economy.