Japan, Australia finance ministers sign memorandum to create ministerial economic security dialogue
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Finance Minister Satsuki Katayama met with Australian Treasurer Jim Chalmers at the Ministry of Finance on the 5th and signed a memorandum establishing a framework for a "Finance Ministers' Dialogue" aimed at strengthening cooperation on economic security and expanding investment between the two countries. The move elevates the Japan-Australia framework, previously limited to the vice-ministerial level, to the ministerial level, with the two sides deepening coordination in areas centering on energy security, including liquefied natural gas, and investment in critical minerals. At the signing ceremony, Katayama stressed that the two countries will "further strengthen our cooperation and contribute to stable economic growth in the Indo-Pacific region and, by extension, the world as a whole," while Chalmers said "the importance of closer Japan-Australia cooperation has never been greater." Under the Finance Ministers' Dialogue, the two sides will also strengthen information sharing in the screening of domestic investment by foreign capital and consider investment support using public financial institutions such as the Japan Bank for International Cooperation. They will also coordinate on investment in Pacific island countries and support for anti-money-laundering measures.