Japan, Australia to launch annual finance ministers' talks amid uncertainty
TOKYO (Kyodo) -- Japan and Australia signed a memorandum of cooperation Monday to launch annual finance ministerial talks as they seek closer economic
Japan and Australia have agreed to hold annual finance ministerial talks to strengthen their economic and security ties, according to a memorandum of cooperation signed on Monday in Tokyo. The agreement, signed by Japanese Finance Minister Satsuki Katayama and Australian Treasurer Jim Chalmers, aims to bolster economic resilience in the Indo-Pacific region and boost bilateral trade and investment.
Resource-rich Australia will be the third country with which Japan establishes such a finance ministerial dialogue, following China and South Korea, though meetings with these neighbors are not annual events. The last round of finance ministerial talks between Japan and China took place in August 2018. Both countries expressed their commitment to promoting stable economic growth in the Indo-Pacific region and worldwide.
Chalmers emphasized that closer Australia-Japan cooperation is more crucial now than ever, highlighting that the two nations can capitalize on new economic opportunities by leveraging their complementary strengths. They also agreed to enhance energy and fuel security, diversify supply chains, and cooperate on defense and critical minerals like rare earths, recognizing their interconnected economic and security interests.
Written by urgent.news from The Mainichi's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
