Topics

Three-party MOU signed among DFAT, EFIC and NEXI


November 19, 2018

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI:Chairman and CEO: Kazuhiko Bando) has concluded a three-party memorandum of understanding (MOU) on cooperation with Australia’s Department of Foreign Affairs and Trade (DFAT) and the Export Finance and Insurance Corporation (EFIC), the nation’s export credit agency.

The MOU was concluded in Darwin, Australia, on November 16,taking the opportunity of the Japan-Australia summit. The ceremony for exchanging of documents was held at the Parliament House, in the presence of Japan’s Prime Minister Abe and Australia’s Prime Minister Scott John Morrison. Mr. Kohei Okada, Senior Managing Executive Officer, Member of Board and Ms. Frances Adamson, Secretary of the DFAT, both are the signer of the MOU, attended this ceremony. The MOU was exchanged between Japan’s Minister of Economy, Trade and Industry, Hiroshige Seko and Austraria’s Minister for Trade, Tourism and Investment, Simon Birmingham.

MOU ceremony

MOU ceremony
(from the middle to left)Japan’s Prime Minister, Mr. Shinzo Abe
Japan’s Minister of Economy, Trade and Industry, Mr. Hiroshige Seko
NEXI Senior Managing Executive Officer, Member of Board, Mr. Kohei Okada
(from the middle to right)Australia’s Prime Minister, Mr. Scott John Morrison
Australia’s Minister for Trade, Tourism and Investment, Mr. Simon Birmingham
Secretary of the DFAT, Ms. Frances Adamson
Source:Prime Minister of Japan and His Cabinet(http://www.kantei.go.jp/jp/terms.html

The global demand for infrastructure development is expected to grow even further, especially in Asia. In this situation, the MOU aims to build a framework for three parties: DFAT, its agency EFIC and NEXI to work together towards setting up projects, which will be in line with the concept of exporting high-quality infrastructure and with the global trend of seeking a balance between environmental conservation and economic growth, such as renewable energy.

A strong partnership between government affiliated organizations of Australia and Japan, which have shared common values in multiple aspects, is expected to significantly contribute to stability and development in the Indo-Pacific region. They will work together to facilitate support and investment in infrastructure development with responsibility to meet the high standards of labor, environment and other factors, responding to increasing infrastructure demand in the rapidly growing Asia-Pacific region. The cooperation will also comply with both government’s policy which aims to contribute to stability and development of Indo-Pacific region and to secure peace, stability and prosperity of the international society.

Since NEXI signed a reinsurance agreement with EFIC in 2005 both organizations have liaised to support LNG projects in Papua New Guinea and Ichthys LNG project. Based on such relationship with EFIC, NEXI will encourage discussion about cooperation with the addition of DFAT.

By strengthening ties with governments and their affiliated financial institutions of other countries and regions, NEXI will continue to actively support Japanese companies to expand their business overseas.


Outline of the MOU

  • ・To identify projects in the Indo-Pacific region, where Australian and Japanese companies will work together to contribute to exporting high-quality infrastructure and to balance between environmental conservation and economic growth such as sustainable energy
  • ・To hold three-party discussions to provide smooth support

About DFAT

Australia’s Department of Foreign Affairs and Trade  
Minister for Foreign Affairs Marise Payne
Minister for Trade, Tourism and Investment Simon Birmingham

About EFIC

Year of establishment 1991
Location Sydney and other cities
Shareholder Government of Australia (100%)
Number of employees Approximately 100

Contact Information

Policy Coordination Group Tel: #81-(0)3-3512-7456

Back
PAGE UP