Australia and Japan: A trusted partnership

As global economies fight back against the challenges inflicted on their industries by the coronavirus pandemic, Japan and Australia remain trusted partners, ready and willing to continue working closely together. Both Australia and Japan are effectively addressing the pandemic and are set to remain intrinsically tied in terms of trade, business and a shared desire to strengthen their economic relationship.

Australia and Japan

Australia’s exports are sought after by governments, businesses and consumers around the world. Australia’s exports to Japan include natural gas, coal, iron ore, copper ore and concentrates, aluminum, cosmetics and beauty products and food and beverage products, including beef and wine.

As an import-reliant economy, Japan has developed a strong bond with trusted Australian-based suppliers. The Japan-Australia Economic Partnership Agreement signed in Canberra on July 8, 2014, and entered into force on Jan. 15, 2015, has facilitated more robust, bilateral trade between both countries. Chair of the Export Council of Australia Dianne Tipping: “Japan, one of our most dependable customers, was our top export market for many decades and today remains second only to China. Japan was Australia's second-largest trading partner in 2018-19, with two-way goods and services trade valued at $88.5 billion Australian dollars. Japan is Australia's second-largest export market.” “The mutual trust in our trading relationship has, in turn, lead to the investment of capital that has played an important role in strengthening growth in the Australian economy. In recent years, the relations have expanded beyond strong economic and commercial links to other areas, including culture, tourism, defence and scientific cooperation.”

Two quality-driven economies

Japan and Australia both appreciate quality services and products. This appreciation for high standards has bound the two countries closely together for years.

Chief Executive Officer of Australian Made Campaign Ltd. Ben Lazzaro: “Products originating from Australia have a reputation for quality, safety and sustainability — important attributes when considering purchasing imported products.”

Post-coronavirus

Improving market access will be the key to strengthening trade relations between Australia and Japan. With the coronavirus disrupting global supply chains, businesses are searching for new solutions to reach existing customers and expand into new markets. Chair of the Australian and New Zealand Chamber of Commerce in Japan Sally Townsend: “As our two countries look to the future post-coronavirus, the Australia-Japan economic relationship remains a vital partnership in the economic recovery of our region, post-coronavirus.” www.anzccj.jp www.export.org.au www.australianmade.com.au