Tokyo – Today the U.S. Department of the Treasury and the Ministries of Economy, Trade and Industry, and of Finance, of Japan, signed the Memorandum of Cooperation (MOC) on Strengthening Energy and Infrastructure Finance and Market Building.
Signed during a meeting between U.S. Treasury Under Secretary for International Affairs Brent McIntosh and Ministry of Finance Vice Minister for International Affairs of Japan Yoshiki Takeuchi, the MOC is designed to catalyze market-oriented, private sector solutions to support investments in infrastructure and development of the energy sector. Ministry of Economy, Trade, and Industry Vice Minister for International Affairs of Japan Shigehiro Tanaka also signed in absentia.
Under this cooperative agreement the United States and Japan will work together to address regulatory, market, and legal barriers to private sector investment, and develop innovative solutions to deepen regional debt markets for energy and infrastructure projects; crowd in institutional investors; enhance liquefied natural gas and other commodity trading markets; and boost bilateral infrastructure investment between the United States and Japan.
“The agreement signed today is a testament to our shared commitment to advancing a free and open Indo-Pacific through quality infrastructure investment that ensures openness, transparency, economic efficiency, and debt sustainability,” said Under Secretary McIntosh.
The MOC supports the ongoing work of the Japan-United States Strategic Energy Partnership launched by President Trump and Prime Minister Abe in November 2017, and furthers the goals of the Asia Enhancing Development, Growth Through Energy (Asia EDGE) initiative, and America Crece (The Americas Grow).