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

By Reuters News

SYDNEY, Oct 4 (Reuters) - 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)

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