Australia and Japan recently signed their first Joint Strategic Financing Memorandum of Cooperation (Memorandum). The Memorandum establishes a new framework for cooperation on strategic investment and economic security, between the Government of Australia, as represented by the Department of Finance and the Department of Foreign Affairs and Trade, and the Government of Japan, as represented by the Ministry of Finance, the Ministry of Foreign Affairs and the Ministry of Economy, Trade and Industry.
The Memorandum reflects the growing importance of strategic finance in advancing shared economic security objectives. It aims to strengthen cooperation between Australian and Japanese agencies while leveraging private sector investment, expertise and innovation.
The inaugural Australia-Japan Strategic Investment Networking Forum (Forum) was hosted by the Australian Embassy in Tokyo as part of celebrations marking the 50th anniversary of the Basic Treaty of Friendship and Cooperation between Australia and Japan. The Forum featured opening remarks by the Chair of Export Finance Australia, Ms Debra Hazelton, and Deputy Governor of the Japan Bank for International Cooperation, Mr OYA Toshio, followed by keynote addresses by Australian Ambassador to Japan H.E. Andrew Shearer and Japan's Vice Minister for Finance Mr MIMURA Atsushi. In their remarks, they welcomed the establishment of the Memorandum.
The Forum, the first initiative delivered under the new Memorandum, brought together representatives from 19 Australian and Japanese policy, financing agencies and trade/investment facilitation agencies to deepen relationships, build mutual understanding and identify opportunities for cooperation on strategic investments in Australia and across the Indo-Pacific. Discussions focused on how to strengthen energy security, critical minerals and strategic infrastructure collaboration.
The Memorandum and Forum are expected to foster enduring partnerships between participating agencies and support close Australia-Japan cooperation on strategic investment priorities for years to come.
Quote attributable to Australian Ambassador to Japan H.E. Andrew Shearer:
"For 50 years, Australia and Japan have built a partnership founded on trust, shared interests and practical cooperation. This Memorandum opens a new chapter in that partnership, bringing together the agencies that can mobilise strategic investment in support of our shared economic security objectives.”
"The Strategic Investment Networking Forum connected the expertise, capital and institutions needed to turn shared priorities into practical outcomes for Australia, Japan and the Indo-Pacific."
Quote attributable to Japan's Vice Minister for Finance MIMURA Atsushi:
“Australia and Japan can complement each other in various areas, including available natural resources, technology, industrial base, and financial tools. Together, we can help diversify and strengthen supply chains, through investments in our two countries as well as third countries.”
“By working side by side, Australia and Japan can turn strategic opportunities into actual investments. And Japan’s Ministry of Finance is delighted and proud to be a part of this collaboration.”
Quote attributable to Export Finance Australia Board Chair, Debra Hazelton:
“Export Finance Australia works closely with our Japanese counterparts on projects of strategic importance. This Memorandum provides a foundation to deepen that cooperation and unlock new opportunities together.”
Australia-Japan Joint Strategic Financing Memorandum of Cooperationhttps://japan.embassy.gov.au/tkyo/StrategicInvestmentNetworkingForum.html