From space economy to critical minerals, Meloni-Takaichi pact

In the face of the many international crises, instability and geo-economic fragmentation," he emphasised in joint statements to the press following the delegations' meeting, "Italy and Japan together can make a difference, because we believe that defending a just, free and open world order (and 'founded on law', as the joint declaration adopted at the end of the summit specifies) is the way to ensure peace and prosperity". Almost a warning to sailors who are unsettling the planet, starting with Xi Jinping's China (Japan has just signed a new defence pact with the Philippines) and Vladimir Putin's Russia. Not to mention the unpredictability of the US of Donald Trump (from whom the announcement of the Board of peace is awaited, with Italy among the members), who after the blitz in Venezuela is threatening intervention in Iran and the seizure of Greenland, in an Arctic that has become the centre of global competition.

Very harsh passages were reserved for North Korea in the joint statement adopted at the end of the summit. The two leaders, it says, "strongly condemned North Korea's nuclear and missile programmes and reaffirmed their commitment to the complete denuclearisation of North Korea in accordance with relevant UN Security Council resolutions. They expressed their deep concern over North Korea's illicit cyber activities, including cryptocurrency theft, and increasing military cooperation with Russia. They urged North Korea to resolve the kidnapping issue immediately'.

But the aim of the face-to-face meeting was also and above all to tighten the links of economic cooperation to make value chains 'stronger and more resilient' to external shocks. Meloni and Takaichi's explicit reference was to critical minerals and rare earths, not least because the memory of Chinese restrictions in response to US tariffs is still fresh. "The two premiers," reads the joint statement, not surprisingly, at 6 of 16, "shared a deep concern about all forms of economic coercion and the use of non-market policies and practices and the use of export restrictions that disrupt global supply chains for key goods and components and cause other forms of market distortions, including overcapacity. Words that sound like another blow to Xi and the barriers put up by China on Japanese products after the prime minister's statements on Taiwan.

In the text the list of commitments on the industrial cooperation front, to speed up the implementation of the Italy-Japan 2024-2027 Action Plan and increase investments, is long and intersects all the highest value-added sectors. It ranges, the Italian premier explained, "from robotics to emerging technologies, from the space economy to clean energy, from mechanics to life sciences, from infrastructure to defence and space. We also talked about the exploration of the seabed'. On space, a dialogue will begin this year to give further impetus to the collaboration already underway between the Italian Space Agency (Asi) and Japan's Jaxa,

The Japanese Prime Minister spoke of 'mutual support' on liquefied natural gas (LNG). Italy and the Rising Sun would in fact be ready to consolidate a strategic agreement to strengthen Tokyo's energy security, which currently depends mainly on Australia, Malaysia and the United States for LNG imports, through a diversification of supply sources. At the heart of the agreement the role of Eni, which - thanks to its consolidated presence in Africa - undertakes to supply Japan with LNG in the event of an emergency. The agreement would also include financial support from Japanese institutions for the development of Eni's project in Mozambique.

The stock of Italian investments in Japan has reached 2.36 billion in 2024, boosted by the presence of 166 companies including EssilorLuxottica, Leonardo, Comer Industries, Danieli, De Nora, Bracco, Marposs and Mermec; Japanese investments in Italy exceed 3.7 billion (440 companies present) and Meloni is convinced that it can grow further. The same goes for exports to the Rising Sun, which will reach 8.2 billion in 2024 (+2.5%) driven by luxury and the increasing weight of intermediate goods.

Tomorrow in the embassy, when the premier will see the CEOs of Japanese giants with a total turnover of one trillion - including Sony, Mitsubishi, Honda, Panasonic and Toyota - and then in South Korea, in Seoul, where she will meet the President of the Republic, Lee Jae-myiung, the plot will be complete. And clear: the EU-Mercosur agreement to increase trade with South America, the Mattei plan in Africa, the axis with emirs and sheikhs in the Gulf, the support to the Imec India-Middle East corridor and now the positioning in East Asia are all sides of the same coin. That of an Italy on the hunt for new markets and new allies.