The US Treasury and the Japanese Ministry of Economy and Finance signed a Memorandum of cooperation.
The United States and Japan have signed an agreement to encourage jointly private investment in energy and infrastructure projects, the US Treasury Department said on Tuesday.
According to the Ministry of Finance, the two countries, which are the world’s first and third largest economies, “will work together to remove regulatory, market and legal barriers to private sector investment and develop innovative solutions to deepen regional loan capital markets for energy and infrastructure projects.”
The Memorandum of cooperation, which was signed on Tuesday by the US and Japanese ministries of Finance, also provides for attracting investment organizations, developing commodity markets for liquefied natural gas, and increasing bilateral investment.
The administration of US President Donald Trump is looking for ways to compete with China’s massive infrastructure initiative called “one belt – one road” with solutions centered on the private sector.