Media release

Australian Minister for Trade, Mark Vaile

Friday, October 6, 2000

Australia-Japan: Doing Business in the 21st Century

Trade Minister, Mark Vaile, today announced a new study focusing on strengthening Australia-Japan economic relations.

Mr Vaile announced the study following a meeting with Japan's Minister for International Trade and Industry, Takeo Hiranuma, in Chiangmai, Thailand. The Australian study will go hand-in-hand with a parallel study being commissioned by Japan's Ministry of International Trade and Industry.

"The studies will explore the new partnership that is evolving as Australia and Japan undergo structural change, particularly stemming from advances in information and communications technology", Mr Vaile said. "We will canvas business views on where they believe new opportunities may arise and assess what governments and business can do to make the most of these opportunities."

"The way we do business is being revolutionised and we need regulatory frameworks and cross-border arrangements that make it easier and cheaper for Australian and Japanese companies to do business in the 21st century." Mr Vaile said.

"Australia and Japan share a common interest in regional stability and prosperity and commercial ties are a vital part of this partnership," Mr Vaile said. "Because the trade and investment relationship is so important, neither side can afford to be complacent about it."

Japan has been Australia's largest trading partner since the mid 1960s. In 1999/2000 Australia's exports to Japan reached $18.8 billion, around 20% of Australia's total exports.

The study will be finalised in March 2001. A notice calling for tenders to undertake the Australian study will be posted on the Department of Foreign Affairs and Trade's website (www.dfat.gov.au/tenders).

---

Local Date: Sunday, 12-Feb-2012 11:32:24 EST