U.S.-Japan Summit at UN General Assembly Stresses Need for Heightened Bilateral Cooperation
September, 22
At the Opening Session of the UN General Assembly, when the world leaders gathered and exchanged opinions, Japan and the U.S., the world's two largest economies took the opportunity for a bilateral Summit in New York City. It was the first Summit between the two countries since the inauguration of Prime Minister Keizo Obuchi and his new cabinet. Mr. Obuchi succeeded Ryutaro Hashimoto this past July. Stressing the strength of the US-Japan relationship, President Clinton and Prime Minister Obuchi discussed for more than three hours the international situation and bilateral relations between the two nations, including economic, financial and security issues. Most importantly, both leaders, facing the possibility of a worldwide expansion of an economic/financial crisis, agreed to cooperate closely with the major economies, especially between the U.S. and Japan in order to spur growth. On this score, Prime Minister Obuchi explained his effort to stabilize the Japanese economy and his intention to take appropriate economy-stimulating measures to revive the sluggish Japanese economy. In Japan, efforts are now being made to complete the legislative process for saving the troubled banking system within the current session of the diet. Another important topic discussed between the two leaders was security. Two days before this summit, a so-called "2+2 Meeting" between the Foreign and Defense Ministers of the U.S. and Japan was held to confirm the commitment of the two countries to their security alliance. The Ministers discussed security environment in Northeast Asia. The Ministers shared the view that North Korea's August 31 missile launch presents a serious threat to the security interest of the two countries and to the region. At the summit, the two leaders agreed that missile development and exports of technology by North Korea would endanger the peace and stability of East Asia. Nonetheless, the Prime Minister expressed his intention to deal with the stalled "KEDO" Project, a Nuclear Energy Plant Project for North Korea, with extensive deliberation with the United States and South Korea.
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