Japan’s Ministry of Agriculture, Forestry & Fisheries signed a Memorandum of Understanding (MoU) with Australia’s Northern Territory to develop agri-business projects on 13 January.
The MoU will promote research and developing in both agriculture and aquaculture in the Northern Territory, as well as developing supply chain logistics into Japan and South East Asia.
“In addition to opening doors for Territory businesses in Japan, the memorandum could ultimately see new agri-business projects coming on line in the Territory,” said Ken Vowles, Northern Territory primary industry and resources minister.
“The Northern Territory is paving the way in North Australian development with the signing of this significant milestone agreement which has the potential to drive our economy, provide local jobs and push infrastructure opportunities.
“This is a wonderful opportunity for the Territory to target efforts to attract investment and develop new markets.”
NT Farmers CEO Shenal Basnayake added that the Agreement would open up opportunities for Northern Territory growers to boost business with Japan.