Japan and South Korea agreed to cooperate in ensuring stability in energy supply and financial markets amid the escalating Middle East crisis, media reports said Sunday.
The agreement was reached Saturday at the 10th round of dialogue between minister-level financial officials from both countries in Tokyo, Japanese state broadcaster NHK reported.
Expressing concern about the raging situation in the Middle East, Japanese Finance Minister Katayama Satsuki said marine transportation through the Strait of Hormuz is extremely important for stable energy supplies to Japan, South Korea and other Asian nations.
Satsuki said Japan is closely monitoring developments in the energy and financial markets.
South Korean Finance Minister Koo Yun-cheol said global economic uncertainty is rising and interests and motives of countries are becoming more complex.
The ministers expressed "serious" concern about the recent sharp depreciation of the Japanese yen and the South Korean won, vowing to take "appropriate" actions against "excessive volatility and disorderly movements" in exchange rates.
Regional escalation has flared up since Israel and the US launched a joint attack against Iran on Feb. 28, killing so far around 1,300 people and injuring more than 10,000, according to Iranian authorities.
Tehran had retaliated with drone and missile strikes targeting Israel, Jordan, Iraq and Gulf countries that are home to US military assets.
By Anadolu staff
Anadolu Agency
energy@aa.com.tr
