Japan Increases Military Budget, Aiming to Become the Third Largest in the World: Reuters

Israel predicted an increase in defense exports to Japan on Tuesday, as the Asian nation announced its intention to boost military spending in the region in light of China's more assertive behavior, Reuters reports.

Tokyo is reviewing the limits on its military budget established after World War II, amid growing concerns that the situation surrounding Ukraine could compel China to threaten neighboring Taiwan, the media outlet notes.

The ruling Liberal Democratic Party of Japan aims to double defense spending to 2% of GDP, which would make Japan's military budget the third largest in the world.

Israeli Defense Minister Benny Gantz highlighted Japan's policy shift as he concluded a two-day visit to Tokyo, which culminated in the signing of a bilateral memorandum on defense cooperation. “This will have real consequences on both the military level, as well as in research and development, and the level of the defense industry,” he told reporters.

According to the Times of Israel, Israeli defense exports reached a record high of $11.3 billion in 2021. This has made Israel the 10th largest exporter of defense products in the world, the site reported, citing data from a Swedish monitoring group.