Japan to increase defence budget to 2% of GDP

Japan has decided to join the Indo-Pacific Economic Program (IPEF), which provides for an increase in defence spending up to 2% of GDP. Hirokazu Matsuno, chief cabinet secretary of the country, stated this, reports The Epoch Times.

“We applaud IPEF as an embodiment of the active commitment of the United States to the Indo-Pacific region, and therefore we positively view our participation,” Matsuno quoted the publication as saying.

The program focuses on cooperation in trade, supply chain sustainability, infrastructure, decarbonisation, taxation and anti-corruption.

As part of cooperation with the United States, Japan is preparing to increase its defence budget to the level of NATO countries in the amount of 2% of GDP. Now Japan's military spending is $42 billion with a GDP of about $4 trillion.

Earlier, it was reported that Biden during a trip to Asia will sign a bill on the allocation of additional assistance to Ukraine in the amount of about $40 billion.

In addition, Japan did not invite Russia to the 77th memorial ceremony for the victims of the atomic bombing of Hiroshima on August 6 and imposed export sanctions against Russian companies and organizations associated, according to the Japanese side, with the defence sector.