Australia's Treasurer heads to Japan for inaugural finance ministerial forum

Australian Treasurer ​Jim Chalmers said he ​will travel to ‌Japan on ​Sunday for talks with his Japanese counterpart in the first of ‌an annual forum aiming to bolster bilateral ties. The main purpose of the inaugural Australia-Japan Finance Ministerial Dialogue would ‌be to discuss "investment opportunities, strategic financing and international engagement more ‌broadly", Chalmers said in a statement.

He would seek to progress a deal with Japan's finance minister, Satsuki Katayama, to ⁠boost ​investment cooperation, the ⁠statement said. Japan was Australia's fourth-largest foreign investor in 2024, with total ⁠investments valued at A$282.9 billion ($196.7 billion), according to the government.

The ​two countries face "many similar challenges as a ⁠result of global uncertainty, whether it’s higher energy prices driving up inflation ⁠or ​higher bond yields that are putting pressure on our budgets", the treasurer added. While in Japan, ⁠Chalmers said he would also meet more than 30 CEOs ⁠and ⁠business leaders to showcase Australia as a "premier investment destination".

($1 = 1.4382 Australian dollars)