Federal Resources Minister Madeleine King will be travelling to Japan this week to promote resources, energy trade and investment.
This visit will also be an opportunity to identify more prospects to partner with Japan on critical minerals projects as part of the ‘Future Made in Australia’ agenda.
Executives from Japan’s largest companies will speak to Minister King, who will be delivering a keynote address to a major joint business conference in Nagoya, which brings together major Japanese and Australian business leaders.
“Japan is one of Australia’s most trusted and valued trading partners and Australia is rock solid in its commitment to remain a reliable and stable source of resources and energy,” Minister King said.
“At the same time, the transition to net zero creates new opportunities to deepen ties in critical minerals projects under our $22.7 billion investment in a Future Made in Australia.”
Both countries under the Japan–Australia critical minerals partnership are committed to delivering on their net-zero targets by building secure supply chains for critical minerals.
The Australia–Japan Joint Business Conference is a formal connection between the countries, with Japan’s largest companies and trading houses being significant investors in Australia’s resources and energy sectors.
The one held recently in Melbourne celebrated 60 years and saw speakers from a range of key government and mining entities.
The theme for the 61st event is ‘new beginnings’, which it heralds as a new phase in the partnership between the two countries.
Discussions will be focused on what new business opportunities can come from the current unstable geopolitical landscape and the best ways to mitigate risks.
Two-way trade between the countries is worth more than $120 billion and makes Japan the second largest trading partner for Australia.
LNG, iron ore and coal exports to Japan were worth $90 billion in 2023, while total Japanese investment into Australia was worth $265 billion last year.
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