Vice Minister Takagi Visits the Philippines
Overview
From October 7 to 9, 2026, Vice Minister of Economy, Trade and Industry Takagi visited the Philippines and co-hosted the 4th AZEC Ministerial Meeting with the Philippines. The meeting adopted a joint statement and agreed on a work program to strengthen oil stockpiling. It also held the first dialogue with oil-producing countries and announced about 70 memoranda of understanding (MOUs). At the ASEAN+3 and EAS energy ministers’ meetings, as well as bilateral talks with ministers from various countries, participants discussed cooperation on oil stockpiling, energy security, and decarbonization.
Key points
- The AZEC Ministerial Meeting issued a joint statement and agreed on a work program to strengthen oil stockpiling.
- Vice Minister Takagi said that diverse, practical approaches tailored to each country's circumstances are important for reconciling energy security with decarbonization.
- In talks with the Philippines, Malaysia, Singapore, and Vietnam, participants discussed cooperation on stockpiling, nuclear power, gas, and other areas.
Overview
From October 7 to 9, 2026, Vice Minister of Economy, Trade and Industry Takagi visited Manila, Republic of the Philippines, and co-hosted the 4th Asia Zero Emission Community (AZEC) Ministerial Meeting with the Philippines. He also attended a special meeting between Middle Eastern oil-producing countries and AZEC partner countries, and the East Asia Summit (EAS) and ASEAN+3 energy ministers’ meetings.
All 11 partner countries and international organizations participated in the AZEC meeting on October 8. Japan was represented by Vice Minister Takagi, Environment Vice Minister Azemoto, and Ambassador in Charge of AZEC Yamada.
Impact
The AZEC meeting issued a joint statement reviewing progress over the past year and agreed on a work program covering the development of stockpiling systems and infrastructure in Asia, cooperation with oil-producing countries, and coordinated responses in emergencies.
The meeting announced about 70 newly concluded MOUs on decarbonization and energy transition, bringing the number of projects underway under AZEC to more than 600 in total.
In talks with the Philippines, the Ministry of Economy, Trade and Industry and the Philippine Department of Energy signed a memorandum on comprehensive cooperation in nuclear energy, while JICA and the department signed a joint announcement confirming cooperation on oil security.
At the Business Forum, participants announced the creation of the AZEC Transition Catalyst (AITF Catalyst), which advises on and funds efforts to resolve challenges facing specific transition finance projects, and JICA’s investment in an international fund for transition projects in Asia.
Details
Vice Minister Takagi reported on strengthening oil stockpiling under “Power Asia”; diversifying energy sources through renewable energy, LNG and gas, biofuels, and nuclear power; and frameworks to support the formation of transition finance projects. Governments, ERIA, ADB, IEA, and the AZEC Advocacy Group also reported initiatives and recommendations on stockpiling, decarbonization, and critical minerals.
Saudi Arabia and the United Arab Emirates participated in the first dialogue between ministers from Asian countries and oil-producing countries. Vice Minister Takagi stressed the importance of turning cooperation into concrete action and sustaining it through direct dialogue between producers and consumers.
At the ASEAN+3 meeting and the EAS meeting, attended by 18 countries—ASEAN members, Japan, China, South Korea, Australia, New Zealand, India, the United States, and Russia—participants discussed progress under the ASEAN Plan of Action for Energy Cooperation (APAEC), energy security, and decarbonization, and issued a joint statement afterward. Vice Minister Takagi identified three pillars: free and transparent energy trade, international coordination to strengthen stockpiling, and cooperation between producing and consuming countries. He said he would promote regional cooperation.
The Philippines and Japan agreed to advance concrete oil stockpiling cooperation and strengthen cooperation on nuclear power and offshore wind. With Malaysia, they confirmed progress and continued cooperation on oil stockpiling, nuclear power, and ammonia, and discussed CCS. With Singapore, they agreed to cooperate toward the next AZEC Ministerial Meeting and exchanged views on gas-fired power and other matters. With Vietnam, they confirmed continued efforts to strengthen energy security, including oil stockpiling, and discussed developing institutional frameworks for LNG and gas-fired power generation.
More than 250 business leaders attended the AZEC Business Forum and discussed oil stockpiling and transition finance.