Deepening economic security with Japan

Australia and Japan have committed to bolstering cooperation on economic security to achieve more resilient supply chains for both countries and the region.

Prime Minister Anthony Albanese of Australia and Prime Minister Sanae Takaichi of Japan met in Canberra today and signed the Joint Declaration on Economic Security Cooperation(link is external).

Through the Joint Declaration, Australia and Japan have committed to working together to build regional economic resilience through strengthening supply chain resilience for key goods such as energy products, food and critical minerals, and promoting and protecting critical technologies.

Both countries have also agreed to consult each other on economic security contingencies and consider measures to mitigate risks.

Japan is Australia's third largest two-way trading partner and second-largest export market. We are more strategically aligned than ever, including as key partners on economic security.

This Joint Declaration will boost our two-way trade and investment, particularly in the strategically significant sectors of critical technologies and critical minerals.

With the Basic Treaty of Friendship and Cooperation with Japan signed 50 years ago, this Joint Declaration further solidifies our already strong relationship and sets the direction for our future.

Quotes attributable to Prime Minister Anthony Albanese

"Australia and Japan are taking action to protect our economies from future economic shocks and uncertainty.

"By working together, we will achieve more secure and resilient supply chains that will benefit Australian and Japanese businesses and consumers now and into the future."

Quotes attributable to Minister for Foreign Affairs Penny Wong

"Australia and Japan are more strategically aligned than ever, including as close partners on economic security.

"Together we are building our shared resilience in a more uncertain world."

Quotes attributable to Minister for Trade and Tourism Don Farrell

"Australia and Japan have a strong relationship and this declaration will support prosperity and resilience for both our countries.

"By working together, we will establish more secure and resilient supply chains that will benefit Australian and Japanese businesses and consumers, now, and into the future."