Former Minister for Trade
Australian Commonwealth Coat of Arms

Trade Minister to attend APEC meeting and boost links with Japan

Media release

4 June 2010

Trade Minister Simon Crean is visiting Japan from June 4 to 8 to advance Australia's regional and bilateral trade and economic interests.

Japan is crucial to the Australian economy with two-way trade worth more than $59 billion a year and total Japanese investment in the Australia economy of nearly $90 billion.

Mr Crean will attend the APEC Trade Ministers' Meeting in Sapporo on June 5 and 6 where he will push for progress on the Doha Round negotiations.

Mr Crean will then hold meetings in Tokyo to advance key bilateral trade objectives, including the Australia-Japan Free Trade Agreement.

"Australia and Japan share a comprehensive economic, strategic and security partnership and there are always opportunities for greater cooperation," Mr Crean said.

"Japan is one of the founding members of the Asia Pacific Economic Cooperation (APEC) and is hosting this year's forum that comes at a crucial time with global economic recovery underway."

"The APEC Trade Ministers' meeting represents a significant opportunity to inject political energy and momentum towards a conclusion of the Doha Round of negotiations."

"Making real progress on Doha would be the best way to raise business confidence and accelerate the global recovery," Mr Crean said.

In Tokyo, Mr Crean will deliver keynote addresses to the Australia-Japan FTA Symposium and an Austrade-organised forum on Australia's Financial Services sector.

"It is important to raise Japanese awareness of Australia's world-class financial sector," Mr Crean said.

"Australia's expertise in areas such as superannuation management and public-private partnerships provides opportunities for greater trade and investment between Australia and Japan."

APEC is the premier economic forum in the Asia Pacific and APEC economies account for 55 per cent of global GDP, 40 per cent of the world's population and 69 per cent of Australia's trade.

Japan was Australia's second-largest trading partner and export market in 2009, with two-way trade worth $59.2 billion.

The 12th round of FTA negotiations between Australia and Japan will take place in Tokyo in September.

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