Japan-Australia ties ‘as much about security as business’

According to The Australian Financial Review, the commercial relationship between Japan and Australia has become as much about regional security as good business, according to the chairman of one of Japan’s largest energy companies.
Michiaki Hirose, chairman of Tokyo Gas and of the Australia Japan Business Co-operation Committee, said bilateral relationships needed to extend beyond traditional concerns such as energy security to include technology and defence as China’s influence grew in the region.
“The fact of the matter is the Japan-Australia relationship has become broader and more sophisticated than before,” Mr Hirose said. “The relationship needs to go one step further than just economic security and include broader security.”
Japan and Australia have common security challenges such as relatively small national defence industries, high research, development and production costs, and a dependence on US contractors.
The number of Japanese investments in Australia hit a record 53 transactions in 2023. Foreign direct investment reached $133.8 billion, with two-way trade between the countries valued at $143.3 billion, making Japan Australia’s second-largest trading partner.

https://www.afr.com/world/asia/japan-australia-ties-as-much-about-security-as-business-20240624-p5jobv