31 March 2017
By Eve Bentley
The Australian Trade and Investment Commission (Austrade) on behalf on the Australian Government has commenced a major study on Japanese Investment in Australia and opportunities for future business, entitled: ‘Japanese Investment in Australia – A Trusted Partnership’. As natural partners in the Asia-Pacific region, Japan and Australia share a diverse and extensive history in their partnership.
The commission of this new Australian Governmental study not only celebrates the contribution of Japanese investment to Australia, but commemorates the 60th Anniversary of the Agreement on Commerce between Japan and the Commonwealth of Australia. Signed in 1957, this Commerce Agreement between Australia and Japan was the first breakthrough in post-war relations. Indeed, Australia was the first country to drop the discriminatory high tariffs which many countries maintained with regards to bilateral relations with Japan. Thus the significance of the agreement was symbolic beyond its outlined trade implications.
This contribution intended as a result of this study includes its long-term view, corporate and community citizenship, the development of new industries in Australia, significant new skills training and employment, and exciting innovation. The study will also identify current investment trends and opportunities for future partnerships. Global business flows and both countries’ extensive business footprints in the Asian region are bringing new opportunities for collaboration. The study will also explore opportunities flowing from the success of the Japan-Australia Economic Partnership Agreement (JAEPA) which was signed in Canberra on 8 July 2014 and entered into force on 15 January 2015. Austrade predicts this report will be released mid-2017, and is intended to recognise and celebrate the enormous contribution of Japanese investment to Australia’s economic prosperity over the previous decades. The ANZCCJ similarly recognises the significance of this study towards its own organisational practice, and looks forward to its release.
You can read the official Japan Project Brief here.