Reimagining the Australia-Japan bilateral relationship

11 December 2021: The Australia-Japan bilateral relationship is underpinned by a strong and complementary economic relationship, deep and broad people-to-people ties, and a close and growing political and security relationship. But the world has changed, and with it the assumptions that have guided the development of the Australia-Japan relationship needs reconsideration.

Japan is the world’s third largest economy, it is Australia’s second largest source of foreign investment and third largest trading partner, having been second until commodity exports fell in 2020. 

However, the Japan relationship must be reimagined to cope with accelerating economic, environmental and social changes in both countries and a dramatically changing geopolitical environment. Japan must be embraced as a most favoured partner to deliver on its potential to help deal with these challenges.

Asialink Business in partnership with Ashurst and Australia Japan Research Centre (AJRC) recently launched the Reimagining the Japan relationship report in Melbourne, featuring a presentation from Associate Professor Shiro Armstrong, Director of AJRC.

Professor Armstrong shared key recommendations from AJRC’s report on the importance of Japan’s relationship with Australia, followed by a discussion on how to take the report's recommendations forward and how we can elevate the bilateral relationship. 

The forum explored:

  • How Australia can better understand and deepen the relationship with Japan and build capacity to shape the bilateral relationship.
  • How Australia can position to actively respond to major challenges that both countries now face in recovery from COVID-19, a more uncertain external environment, and for decades to come.
  • We need to prioritise and invest in the relationship if it is to achieve its potential to serve our national interests across the board.
  • Ensuring the health of our business relationship as our countries make the transition to clean energy will be crucial.

Access a copy of the report here.