Japan and India – A New Way Forward for Australia
Australia is not alone in its call for an open, inclusive, prosperous and secure Indo-Pacific; Japan and India have also long been committed to this concept for the region. The Centre has an established history of examining these critical relationships and has identified the potential ways of strengthening the existing trilateral between the nations.
These are the top five ways Aust-India-Japan can work together:
1. Trade and investment
While Australia and Japan have enjoyed a strong economic partnership over recent years, Australia has recently set its sights on India with the release of the Federal Government India Economic Strategy to 2035.
According to the strategy, there is no market over the next 20 years which offers more growth opportunities for Australian business than India.When you place Japan into the equation, representing Australia’s second largest export market, and second largest source of foreign direct investment after the US
, the trilateral quickly becomes a strong foundation for trade and economic prosperity moving forward. Read more from Distinguished Fellow of the Centre Professor Stephen Smith following a week spent in India late last year
2. Encouraging India’s involvement in the Regional Comprehensive Economic Partnership (RCEP)
Late last year, India’s decision to withdraw from this important economic partnership was seen as a setback.The very large agreement is expected to have a systemic impact on the regional and global trading systems.With Australia and Japan active and ongoing contributors to the agreement, the trilateral could see India reengage, an important move given India has become a key player in the global economy.Over the last decade, India’s economy has more than doubled in size.Read more from the Centre’s Dr Jeffrey Wilson here
3. Partners in supporting US defence as part of the Quadrilateral
A publication recently produced by the United States Studies Centre Averting Crisis
calls for Australia and Japan specifically to support their Quadrilateral ally, the United States with resources to meet the requirements of the United States Defense Strategy.It also calls for Australia to refocus its operational resources in the Indo Pacific.With India emerging as a naval and military power, the trilateral could offer a strong security front for the Indo-Pacific Region and beyond. Read more here
4. ASEAN centrality
All three countries support an ASEAN-centred regional architecture, helping to set the rules and norms for behaviour in the region.The Association of Southeast Asian Nations or ASEAN for short is made up of 10 member states:Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Laos, Myanmar, Cambodia and Vietnam.Seen as the diplomatic convener of the region, ASEAN serves to provide a central point from which to engage with the major democracies of the Indo-Pacific including Australia, Japan and India. Read more here
According to a recent article in India Times
, India is on the verge of an ‘infra boom’.With Japan considering one of the most vital players in infrastructure investment globally, and Australia capable of providing expertise and supplies, the trilateral can serve to form the foundation of filling India’s glaring infrastructure gaps, needed to cater to their 1.3 billion population.
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