The EU and Japan are among the world's four largest economies. Because of our collective weight in the world economy we work closely to coordinate macro-economic policies.
The EU and Japan hold an annual macroeconomic dialogue co-chaired by the European Commission on the EU side and the Japanese Ministry of Finance (for fiscal and budgetary issues) and the Cabinet Office (for Japan's overall economic strategy). Major themes include an exchange of views on the global economic outlook and latest fiscal and monetary policy developments. There is also a regular discussion on the progress of structural reforms in both the EU and Japan. There is an annual High Level Meeting on Financial Issues between the EU's The Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) and the Japanese Financial Services Agency discusses the financial regulatory environment in Europe and Japan.
The EU and Japan also work together on a wide range of important global macroeconomic issues in the context of the G20, focussing on issues such as breaking the cycle of low growth and boosting diminished business and consumer confidence. Regular economic themes include fiscal sustainability, responding to demographic challenges, and achieving balanced growth.