Prime Minister Scott Morrison.
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Australia and Japan are preparing to sign a security cooperation treaty, which intends to allow for greater practical engagement between the two nation’s defence forces
  • The ‘Reciprocal Access Agreement’ will be signed by Australian Prime Minister Scott Morrison and Japanese Prime Minister Fumio Kishida, at a virtual leaders’ summit on January 6
  • Mr Morrison says the summit will allow the two leaders to discuss reduction of carbon emissions and future business collaborations
  • The treaty signing is expected to build on the strategic Indo-Pacific partnership Australia and Japan have as members of the Quad, which also includes the United States and India

Australia and Japan are preparing to sign a security cooperation treaty, which intends to allow for greater practical engagement between the two nation’s defence forces.

Mr Morrison is expected to sign the ‘Reciprocal Access Agreement’ with Japanese Prime Minister, Fumio Kishida, at a virtual press conference on January 6.

The agreement will focus on strengthening defence and security cooperation between the two countries.

Australia and Japan already have a strategic relationship and along with the United States and India make up the Quad.

The two countries also plan to discuss opportunities to strengthen government and business partnerships on clean energy, critical technologies and materials.

In a statement, Prime Minister Scott Morrison said the treaty will build on a ‘Partnership for Decarbonisation through Technology’.

“The virtual summit will also build on our Partnership for Decarbonisation through Technology, including identifying opportunities to deepen government and business collaboration on clean energy and critical technologies and materials,” he said.

Mr Morrison says he expects to meet with the Japanese Prime Minister on home soil in the near future.

Prime Minister Fumio Kishida has publicly stated he would forgo overseas travel as coronavirus cases continue to surge in Japan.

News of the security pact follows a similar treaty signed between Australia and South Korea earlier this year.

More From The Market Online

Aussies warned sudden blaze at one of country’s two operating oil refineries ‘will impact’ fuel supplies

Australians have been warned a fire that’s broken out in Geelong at one of Australia’s two operational oil refineries “will have an impact”
SHRUG

ASX jumps +2.6% higher on Tuesday as Iran war rolls on. Have markets moved on?

I have a feeling I mightn’t be the only person surprised by today’s moves on the ASX, the most recent closing moves on
Sink your teeth into this bad boy

The Aussie market’s been hungry for a good news story. And today, it got one. Will it last?

Let’s start with the most important info: I am currently writing this at 12.30PM Sydney time (9.30AM for me in Perth), and so...