Minister Steven Ciobo MP last week launched the Japanese Investment in Australia – a trusted partnership report.
Speaking at the Oji Fibre Solutions’ (OjiFS) new world-class manufacturing facility in Yatala, Queensland, Minister Ciobo welcomed the report, which coincides with the 60th anniversary of the bilateral Japan-Australia Agreement on Commerce signed in 1957.
‘This report acknowledges and celebrates the significant role of Japanese investment in Australia. It reinforces the clear message that Australia welcomes productive foreign investment, consistent with our national interest, from around the world, including Japan. While recognising the long history of our investment relationship, importantly, it looks to the future and to new areas of investment cooperation emerging with Japan.’
The event was attended by HE Sumio Kusaka, Japan’s Ambassador to Australia, Ms. Keiko Yanai, Consul- General of Japan (Brisbane), Hiyoruki Isono, Director of Oji Holdings and Chairman of Oji Fibre Solutions, and senior representatives from leading Japanese companies including NEC, ANA, Sumitomo Mitsui Banking Corporation and Fujitsu.
The Austrade report highlights that in the six years to 2016, Japanese FDI in Australia increased by 78 per cent to over A$91 billion. Japan is Australia’s second largest source of foreign direct investment and second largest export market.
Japan’s investment continues to grow and is diversifying from Australia’s traditional sectors such as resources and energy and agriculture, into financial services, information and communications technology and renewables.
For insights on Japanese investment in Australia, a timeline spanning over 60 years, a collection of case studies, and infographics of trade and investment trends, download the report.