Photo: AAP Image/Michael Franchi
Australia and Japan have agreed to strengthen our investment and research ties and to work together to tackle maritime crime.
Our countries are great friends and these initiatives recognise our deep shared interests and values.
A Memorandum of Understanding (MOU) to support bilateral infrastructure financing in the Indo-Pacific provides us with a new framework to work together on projects that increase the stability and prosperity of the region, by supporting economic development and regional connectivity.
The MOU will support sustainable regional infrastructure investment that is needs-based, transparent and avoids unsustainable debt burdens. Australia continues to welcome investment into our region from partner nations where it meets these criteria.
We want to help our regional partners get the infrastructure support they need.
The MOU complements our recent announcement of a new Australian Infrastructure Finance Facility for the Pacific (AIFFP), delivering on our commitment to step-up our engagement in the Pacific.
It will also help Australia engage on a broader range of projects and it builds on the extra resources we’re delivering for Efic to give it more flexible infrastructure financing power.
The MOU will support the trilateral partnership between Australia, Japan and the United States to mobilise investment in infrastructure projects in the Indo-Pacific region. By working together with our partners in the Indo-Pacific, Australia is addressing development challenges, increasing connectivity and promoting economic cooperation.
CSIRO and the Japan, Oil, Gas and Metals National Corporation (JOGMEC) have also signed an MOU to increase cooperation and encourage joint research activities in support of the hydrogen value chain and unconventional resources for energy.
Our countries have also exchanged a Statement of Intent between the Department of Home Affairs and the Japan Coast Guard targeted at boosting civil maritime security. We’re committed to strengthening our ability to work together to combat cross border maritime and trade-related crimes, and promote capacity building activity in the Indo-Pacific region.
As Japanese Prime Minister Abe’s visit to Darwin signifies, our countries have made immense progress as partners and these new initiatives will take that even further.