The relationship between Australia and Japan continueオンライン ブラック ジャックo be augmented in trade, investment and security to levelオンライン ブラック ジャックhat give us great hope for our combined futures. I will look at all three elements, which complement each other.

In 2021 Japan not only retained its position aオンライン ブラック ジャックustralia’s second largest source of FDI, but increased its share and closed the gap with the USA. In 2021 the level of Japanese FDI into Australia reached 4 billion. The level of FDI from the US was 5 billion, which has fallen the past two yearオンライン ブラック ジャックnd from a peak of 9 billion in 2019. Japan’s share rose from 11% to 13%. The UK was third with 8 billion and China was sixth with billion.

It is worth noting that Japanese FDI into Australia in the decade from 2012-2021 was worth billion, easily the largest amount, ahead of billion from the UK and billion from the US. Japan is the only source of FDI that has grown every single year. These figureオンライン ブラック ジャックre quite remarkable and highlight some real changes in economic relationships. Aオンライン ブラック ジャックn aside, it is worth mentioning that FDI from ASEAN has grown by billion in the decade to reach a level of billion. This trend provideオンライン ブラック ジャック solid foundation for our shared economic futures in this region.

On the trade front, I was surprised to learn that Australia’s merchandise exportオンライン ブラック ジャックo Japan grew from billion in billion in 2021, way ahead of Korea’オンライン ブラック ジャックhird spot of billion, followed by India with billion, US billion and UK with just billion. Of course China is still number one but Japan’s second place has risen and complements our other regional partners. Australia’オンライン ブラック ジャックwo way trade with Japan was billion, billion larger than with the US.

Investment and trade are synergistic. The economic relationship between Australia and Japan pluオンライン ブラック ジャックhe other relationshipオンライン ブラック ジャックhat they have with countries in the Indo-Asia-Pacific region are foundations for the development of new resilience in a world of heightened risk and bifurcation.

Security relationオンライン ブラック ジャックre the third important component. We have been cheered by the seamless continuity in our security relationship after the change of Government in Australia. Immediately after their swearing in, Prime Minister Albanese and Foreign Minister Wong flew to Tokyo for the QUAD leaders meeting where Mr Albanese met Mr Kishida. Earlier this month Deputy Prime Minister and Defence Minister Marles flew to Tokyo to meet with Defence Minister Kishi, another clear signal our alignment remains tight and our increased collaboration remains on track. Just prior to the visit, the Japanese Government announced its intention to double its defence spending from 1% to 2% of GDP in five years. This iオンライン ブラック ジャック seriouオンライン ブラック ジャックnd ambitiouオンライン ブラック ジャックim and confirms Japan’オンライン ブラック ジャックcceptance of responsibility aオンライン ブラック ジャック security leader. Australia also spends 2% of GDP on defence.

The decades of trust in businesオンライン ブラック ジャックnd the friendships that have developed are repeated in the geopolitical and security realms. As I always say, we are each other’s best friend.

Author: Manuel Panagiotopoulos

Managing Director, Australian and Japanese Economic Intelligence