Finance Minister Arun Jaitely’s 3-day visit to Japan

On May 6, 2017, Union Finance Minister Arun Jaitley, embarked on a 3-day visit to Japan. Mr. Jaitley attended the annual Meeting of Board of Governors’ of Asian Development Bank in Yokohama, Japan.

• In Japan, Mr. Jaitley met Taro Aso, who is the Deputy Prime Minister of Japan as well as the Finance Minister of Japan. As Arun Jaitley is also the Defense Minister of India, he held talks with Japanese Defense Minister, Tomomi Inada.

50th annual meeting of the Asian Development Bank (ADB) Board of Governors May 4-7, 2017

Every year, the Board of Governors of the Asian Development Bank (ADB) hold a meeting to discuss development issues and institutional matters.

• This year the meeting was held from 4^th – 7^th May 2017 in Yokohama, Japan. The meeting was attended by Finance Ministers, Central Bank Governors, private sector and civil society delegates from across the world.
• Theme of 50th annual meeting of the Asian Development Bank (ADB) Board of Governors was “Building Together the Prosperity of Asia”

The meeting focused on following key areas:

1. Regional Cooperation
2. Trade, Financial and Economic connectivity across Asia and the Pacific
3. Support to Small- and medium-sized enterprises
4. Development of Sustainable and inclusive cities
5. Employment in Asia-Pacific region

Quick Facts about Asian Development Bank (ADB):

• Formation Year: 1966
• Headquarters: Manila, Philippines
• Current President: Takehiko Nakao

India and Japan affirm plans to strengthen their defence cooperation amid rising tension in Asian region

Union Finance Minister Arun Jaitley, who also holds defense portfolio, met his Japanese counterpart Tomomi Inada on May 8, 2017 in Tokyo, Japan.

• Both countries have affirmed plans to strengthen their military cooperation amid rising tension in the Asian region. Territorial disputes with China in South China Sea and nuclear as well as missile tests by North Korea are key security concerns for Japan.
• Mr. Arun Jaitley welcomed a planned trilateral naval exercise ‘Malabar’ among the US, India and Japan in Bay of Bengal which is scheduled to be held in July 2017. This exercise will strengthen defense cooperation in the Asia-Pacific region.
• During recent times, Japan and India have made efforts to step up their defense cooperation in order to counter the Chinese influence in the region.

Quick Facts about Japan:

• Capital: Tokyo
• Currency: Japanese Yen
• Current Prime Minister: Shinzo Abe