Canberra and Tokyo yesterday agreed to deepen cooperation on energy and critical minerals, as Japanese Prime Minister Sanae Takaichi met her Australian counterpart, Anthony Albanese, during a three-day visit to the country.
After signing a landmark defense deal last month, the two nations agreed to strengthen energy, food and critical minerals supply chains.
Takaichi said they held strategic discussions on China, Southeast Asia, Pacific island countries, nuclear issues and abductions by North Korea.
Photo: Reuters
“The effective closure of the Strait of Hormuz had been inflicting enormous impact on the Indo-Pacific. We affirmed that Japan and Australian will closely communicate with each other in responding with a sense of urgency,” Takaichi told reporters.
“Australia and Japan are taking action to protect our economies from future economic shocks and uncertainty,” Albanese said in a statement.
“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,” he said.
Both nations have been attempting to shore up energy supply as tensions in the Middle East strangle trade. Japanese firms have also been closely watching developments in the Australian LNG industry, from the risk of strikes at a major gas facility and rising political pressure to increase taxes on exports.
“Like Japan, we are very concerned by disruptions to the supply of liquid fuels and refined petroleum products,” Albanese said.
Australia also plans to provide support of up to A$1.3 billion (US$937 million) to critical mineral projects with Japanese involvement, creating the potential to supply Japan with resources including gallium, nickel, graphite, rare earths and fluorite.
Takaichi arrived in Australia from Vietnam, where she discussed energy and critical minerals and urged Southeast Asian nations to bolster regional supply chains.
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