The Minister for Energy and Emissions Reduction, the Hon Angus Taylor MP, has today signed a new Australia-Japan Memorandum of Cooperation with his Japanese counterpart, Minister Hiroshige Seko, at a G20 Ministerial meeting in Karuizawa, Japan.
The new Memorandum of Cooperation signals the strengthening of an already close relationship between Australia and Japan, addressing contemporary energy challenges. It will promote trade and investment, support research and innovation, and tackle security, reliability and affordability challenges.
‘Here at the G20 we have made important steps to improve energy access and affordability, and encourage innovation in lower-emissions energy. This sends important signals to the global energy market on domestic, regional and international energy priorities.
We are pleased to build on our strong energy and resources relationship with Japan, which supports the prosperity of Australia, Japan and the region,’ Mr Taylor said.
The agreement affirms the long-running, strong bilateral relationship which has been built over decades of resources trade and investment.
‘Like the Australian Government, Japan has always been a strong a supporter of Australia’s resources and energy sector. Today’s signing demonstrates our mutual and continued commitment,’ Senator Canavan said.
Last financial year Japan imported $41 billion of Australian minerals and energy, making it our biggest energy export market. Today’s commitment opens the door to discussing new opportunities for Australia and Japan’s energy and resources sectors.