MEDIA RELEASE - Abbott Government begins backdown on Asian Infrastructure Investment Bank

coats arms

THE HON BILL SHORTEN MP
LEADER OF THE OPPOSITION
MEMBER FOR MARIBYRNONG

THE HON TANYA PLIBERSEK MP
DEPUTY LEADER OF THE OPPOSITION
SHADOW MINISTER FOR FOREIGN AFFAIRS
AND INTERNATIONAL DEVELOPMENT
MEMBER FOR SYDNEY

CHRIS BOWEN MP
SHADOW TREASURER
MEMBER FOR MCMAHON

MEDIA RELEASE

ABBOTT GOVERNMENT BEGINS BACKDOWN ON ASIAN INFRASTRUCTURE INVESTMENT BANK

Today, after months of dithering and in-fighting, the Abbott Government has begun backing down on its opposition to the Asian Infrastructure Investment Bank.

As many of our friends like the UK, New Zealand, South Korea, Germany, France, Italy, India, and Singapore have already thrown their support behind the bank, the Abbott Government is now trying to play catch up.

The Bank has the potential to boost infrastructure investment in our region by around $100 billion.  Labor believes that’s a good thing.

We have been saying for months now that Australia should announce support for the Bank.

By contrast, all Abbott Government Ministers have done is leak against each other from Cabinet and the National Security Committee, as they continued to mishandle this important matter.

The Opposition Leader is currently in China attending the Boao Forum for Asia Annual Conference before visiting Beijing for meetings with business leaders and senior members of the Chinese Government.

SUNDAY, 29 MARCH 2015

 


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