Australia–Japan relations in 2013 with the new Abbott Government calling Japan Australia's "closest friend" in Asia, when Japanese Prime Minister Shinzo Abe visited Australia to conclude the Japan–Australia Economic Partnership Agreement and to address the future of the relationship between Australia and Japan, being the first Japanese Prime Minister to address the Parliament of Australia. With the new Turnbull Government starting in 2015, Prime Minister Malcolm Turnbull has made a few changes to the bilateral relationship between Australia and Japan. This included a slight pullback in terms of the recent bid for the upgrade of the Royal Australian Navy submarine fleet in
Kozo Yamamoto appointed his ministerships in 2016. Yamamoto is a known advocate of reflation policies, and is one of the first to argue for using monetary easing tools to overcome deflation in Japan. As a longtime critic of the Bank of Japan's monetary tightening policies in the Diet, he chaired multiple study groups on monetary policy when the LDP was out of power, and appealed to Shinzo Abe the need for quantitative easing. Yamamoto proposed the consumption tax increase of April 2014 to Abe Shinzo, and advised swift action. He also advocated for basic allowances and various public-works projects for low-income earners