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"The relationship is increasingly indispensable in difficult times." – Prime Minister Anthony Albanese
Australia and Japan Forge Deeper Ties on 50th Anniversary of Friendship Treaty
CANBERRA – Australian Prime Minister Anthony Albanese and Japanese Prime Minister Takaichi Sanae held annual leaders' talks in Canberra this week, marking 50 years since the signing of the Basic Treaty of Friendship and Cooperation. The two leaders signed four major agreements spanning economic security, defense, energy, and critical minerals.
Economic Security Cooperation
The Joint Declaration on Economic Security and Cooperation establishes a framework for Japan and Australia to share information and consult on economic contingencies. These contingencies include geopolitical tensions, economic coercion, or major market disruptions.
The declaration expresses concern over "all forms of economic coercion" and non-market policies that lead to overcapacity, market distortions, and export restrictions on critical minerals. Both countries agreed to consider a "joint response" if their economic security is threatened.
Energy Security & LNG
The energy security agreement commits both countries to maintaining "stable and transparent engagement" on energy trade and open trade flows of essential energy goods, including liquid fuels and gas.
Prime Minister Albanese stated that the agreement would reduce Australia's vulnerability to global shocks. Japan had previously urged Australia not to impose additional taxes on LNG exports.
Australia supplies approximately 40% of Japan's liquified natural gas, while Japan supplies some refined fuel to Australia. The leaders acknowledged regional issues arising from the Strait of Hormuz closure and said both countries would cooperate to strengthen resilience.
Critical Minerals
A new agreement on critical minerals identifies six rare earths "strategic projects" designed to diversify supply chains. These projects include the Lynas Rare Earths Project in Kalgoorlie and Alcoa's Gallium Recovery Project.
Defense Cooperation
A leaders' statement on defense notes "unprecedented strategic alignment" and increasing joint activities. Defense ministers will explore ways to further institutionalize security cooperation.
Japan is Australia's third-largest two-way trading partner and second-largest export market. Under a $10 billion deal signed in April, Japan will deliver three upgraded Mogami-class frigates to the Royal Australian Navy in 2029.
Regional Context & Statements from Leaders
"We have a firm intention to contribute to regional peace and stability." – Prime Minister Takaichi Sanae
Prime Minister Takaichi described the two countries as "quasi allies" and said they have a firm intention to contribute to regional peace and stability. She added that the United States remains indispensable to both nations.
Both leaders discussed China, North Korea, the Indo-Pacific, and energy market uncertainty due to the Middle East conflict.