Australia should embrace China's Belt and Road Initiative: Senator

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‍Senator Penny Wong, who also serves as Australian Labor Party's foreign affairs spokesperson, on Tuesday urged the Australian government to embrace China's Belt and Road Initiative in times of increasing protectionism and global uncertainty.

She wrote an opinion piece for News Corp as she prepares to visit New Delhi and Beijing to foster "greater bilateral cooperation" between Australia and emerging Asian economies. She pointed out that China's Belt and Road Initiative could provide "valuable opportunities" for Australia.

Milk imported from Australia are displayed for sale at supermarkets on June 17, 2015 in Beijing, China. /CFP Photo

Chinese investment in Australia reached 11.49 billion US dollars in 2016, the highest level since its 2008 peak, being propelled by record investment in infrastructure and agriculture, according to report by the KPMG and University of Sydney.

The trade volume between China and Australia last year was $107.8 billion, almost triple that between Australia and the US.

“One Belt, One Road means more roads, more railways, more ports and more airport infrastructure. That means demand for commodities like iron ore and coal, which creates opportunities for Australia’s resource sector,” Wong wrote.

"As trade is increasingly treated with disdain and protectionism rises, we must find better ways to work with (India and China) to ensure open trading systems remain in place so new technologies, automation and artificial intelligence benefit our citizens," Wong wrote in The Australian newspaper on Tuesday.

Chinese Premier Li Keqiang and his Australian counterpart Malcolm Turnbull hold a joint press conference in Canberra, Australia, March 24, 2017. /Xinhua Photo

Wong said the Belt and Road Initiative brings exciting opportunities for Australian businesses, and urged the government not to hesitate embracing the initiative as it did with the Asian Infrastructure Investment Bank.

The Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative, known as the Belt and Road Initiative, was proposed by China in 2013 with the aim of building a trade, investment and infrastructure network connecting Asia with Europe and Africa, along the ancient trade routes.

Canberra earlier confirmed earlier there would be no agreement over the Northern Australia Infrastructure Facility when China beckoned for a formal alignment of Canberra’s five billion Australian dollars state infrastructure fund with the Belt and Road Initiative. Financial Times reported in March that happened over concerns it could damage relations with the US.

Hugh White, professor of strategic studies at the Australian National University, told CGTN that Australia was “caught in the middle” between its economic interests and strategic concerns, as it was “careful not to be seen by the US as too closely aligned to China”.

(Xinhua contributed to this story)