AUST., JAPAN PLAN PACT

Press, Volume CXIII, Issue 33370, 31 October 1973, Page 17

AUST., JAPAN PLAN PACT

(X.2.P. A.-Reuter —Copyright) TOKYO, October 30. Australia and Japan today agreed to begin immediate discussions on a new, and wide-ranging, treaty. After a two-day Ministerial meeting in Tokyo, a joint communique said that the two countries recognised the high level of inter-dependence between their economies, and acknowledged that it was essential that a spirit of friendship and co-oper-ation should continue to govern their relations. The communique said that the Australian delegation, led by the Prime Minister (Mr Whitlam) had explained Australia’s basic policies on foreign investment, noting that ail future foreign proposals w'ould be examined more closely to assess the benefits to Australia.

“The Japanese Ministers stated that a freer movement of international capital investment was essential for the sound development of a free and open

international economy,” the communique went on. “They further explained, and the Australian Ministers noted, that the nature of investment from Japan to Australia had been not to own and control Australian resources, but to contribute to the development of resources and secondary industries, mostly through participating in Australian-initiated projects.” The two countries agreed to initiate regular discussions on the supply-and-demand position of agricultural commodities, to ensure a stable, longterm supply to Japan. “The meeting reaffirmed the desirability of continued discussions and information exchanges between the two Governments on various aspects of their mutual interests in developing, processing, and trade in mineral and energy resources, including uranium, in. Australia,” the communique said.