Senator Canavan is turning to the Japanese to boost exports
WHILE Independent candidate Kerryn Phelps rides towards victory in Wentworth on the back of an anti-coal/ climate change agenda, Resources Minister Senator Matt Canavan is flying to Japan to champion Australian coal.
According to the Australian Government's Resources and Energy Quarterly for September, Japan is Australia's second largest coal consuming customer, importing $41 billion of Australian coal over the 2017-18 financial year.
Japan's hunger for Australia's coal isn't looking like it will diminish given their continuing strong expansion of manufacturing activity, strong household consumption and a faster rise in business spending.
Promoting trade and investment opportunities linked to Australia's high quality resources sector will headline the agenda during a two-day visit to Japan by Senator Canavan.
Minister Canavan is in Japan to attend a series of conferences and hold high level meetings with resource industry leaders and Ministerial counterparts, with a focus on promoting the strengths and potential of Australia's resources and energy sector.
"Australia and Japan share a long and important trading relationship that benefits both countries. This is an ideal time to highlight our top quality resources and energy sector on the world stage," Senator Canavan said.
"Australia provides the energy inputs for around eight hours of Japan's power generation a day, making Australia a key partner when it comes to Japan's energy security.
"Last financial year we exported $41 billion worth of mineral and energy resources to Japan, making it out biggest energy export market by far. It is our largest market for LNG and thermal coal exports, and an important minerals partner.
"Japan is also a key investor in the Australian resources sector, our largest investor from Asia and second largest foreign investor. For more than 50 years Japanese investments have underpinned the development of our iron ore, coal and LNG sectors."