According to Reuters, Thierry Breton, the EU internal market commissioner, announced the signing of a memorandum of understanding with Japan after meeting with Japanese dignitaries and companies to strengthen cooperation in semiconductors, network security and submarine cables.
In terms of semiconductors, Japan will provide generous subsidies to European manufacturers to promote the development of its chip industry. Although the Japanese chip industry has advantages in materials and equipment, its share in the global market has been declining in recent years.
The EU and Japan will monitor the chip supply chain, promote the exchange of researchers and engineers from both sides, and accelerate the technological capabilities of the EU and Japan. “Securing the supply chain for semiconductors is a top priority,” Breton said.
It was reported that Breton will meet with senior executives of the Japanese semiconductor company Rapidus on Tuesday to discuss cooperation between the EU and Japan.
