The importance of Japan as the Northern Territory's main trading partner has been reinforced during talks with key Japanese Government Ministerial representatives today [7 October 2015].
Minister for Asian Engagement and Trade Peter Styles met with Japan's Vice Minister of Economy and Trade and Industry Mr Yoshihiro Seki and Japan's Ministry of Foreign Affairs Deputy Director General of Asian and Oceanian Affairs Mr Takeshita Osuga, before leaving Tokyo for Darwin today.
Mr Styles flew to Tokyo yesterday evening for meetings with Inpex following his attendance at the 53rd Australia-Japan Joint Business Conference in Fukuoka.
"The significance of Inpex's investment in Darwin cannot be understated," Mr Styles said.
"Every other State in Australia would give their eye teeth for an investment of this magnitude.
"The Government of Japan and its corporate giants are watching closely the development of this partnership with Australia's Northern Territory.
"The success of this project could well have major implications for our future investment prospects with other potential Japanese corporates.
"It is clear from today's government talks in Japan that the Inpex project has put Darwin very much at the forefront of business interest.
"Inpex is a highly regarded corporate in Japan and the confidence the company has shown in doing business with us now has others looking to Darwin and its investment potential."
As a result of the Ichthys project in excess of $8.3 billion will be spent through NT-based businesses during the construction phase.
The Northern Territory now has the lowest unemployment in the country at 4.2 per cent, the highest employment participation rate with 11,000 more people in work now compared to three years ago and our economic growth is forecast to outstrip the rest of the nation.
Mr Styles also met today with the Director-General of Japan's National Research Institute of Far Seas Fisheries Mr Joji Morishita.
Mr Morishita and Mr Styles’ talks centred on conservation management of international seafood stocks.
Media Contact: Rebecca Barr: 0407 284 066
Media release first published on 7 October 2015 by Northern Territory Government. Click here to view the original release.