Under a newly signed agreement, the Western Australian (WA) Government will collaborate with Japan Bank for International Cooperation (JBIC) to advance the potential for decarbonisation and low-emission technology.
During the trade visit, Premier Mark McGowan met with JBIC Government Nobumitsu Hayashi to discuss potential new energy investment prospects in WA and to sign the Memorandum of Understanding (MoU).
Premier McGowan said the MoU signed with JBIC recognises WA’s longstanding strategic connection with Japan, which has lasted more than 50 years, and maps a road for new prospects in the future.
“Just as Japanese investment in the late 1960s was foundational in developing the State’s iron ore industry and later the LNG sector, Western Australi is well positioned to support Japan’s transition to net zero by 2050,” Premier McGowan stated.
The MoU will foster collaboration in developing emerging sectors in WA while encouraging JBIC to increase its financial investments in new energy projects across the State.
The State Government originally signed an MoU with JBIC in 2011, which established a platform for exchanging information on investment objectives and possibilities in various WA industries, including minerals, energy, and other natural resources.
“I look forward to Western Australia and Japan continuing to deepen our strategic partnership into the future,” Premier McGowan said.
JBIC is a policy-based financial institution completely owned by the Japanese Government and has 18 representative offices abroad. According to the State Government, JBIC has contributed significantly to a number of resource projects in WA.
 Government will collaborate with Japan Bank for International Cooperation (JBIC) to advance the potential for decarbonisation and low-emission technology.){kind=link}