Expert emphasizes Australia’s requirement to join Belt and Road Initiative


Devdiscourse News Desk | Sydney | Updated: 07-05-2019 19:24 IST | Created: 07-05-2019 19:24 IST
Expert emphasizes Australia’s requirement to join Belt and Road Initiative
From 2017 to 2018, Australia's coal exports to China were worth USD 9 billion and iron ore exports were less than USD 35 billion, according to Constable. Image Credit: Wikipedia
  • Country:
  • Australia
  • China

Australia missed an opportunity by not signing up to the Belt and Road Initiative earlier – this is what commented by the chief executive of the Minerals Council of Australia, Tania Constable.

According to Tania Constable, Australia and China need to work harder on their relationship which has recently come under strain. She made it clear in a speech to the China Chamber of Commerce that as the single biggest purchaser of Australian minerals, China contributes a large part of the country’s export income. “Today China is, without question, an important resources partner – our export figures make that indisputable,” Constable added, Xinhua noted.

From 2017 to 2018, Australia's coal exports to China were worth USD 9 billion and iron ore exports were less than USD 35 billion, according to Constable. "For the minerals industry and the broader Australian community, the question is: how can our trade relationship be transformed to a business partnership of warmth, depth and trust?"

Constable suggested focusing on the benefits which flow both ways from trade and cooperation, and how this can be expanded on in the future. Australia is capable of providing not only minerals like nickel, lithium and zinc, resources crucial to the next generation of technology and devices, but also the skills and capability to apply them.

Constable cited the USD 1 trillion worth of BRI projects, "internationally recognized as sustainable and meeting green standards," which Australia could assist in. "Australia could again be important to help meet Chinese aspirations," Constable said, as reported by Xinhua.

"We have expertise in advanced resource extraction, refinery and development of resources, wind and solar (and) mine rehabilitation, water management, tailings management, environmental conservation and clean energy solutions. This is the time for the relationship to be reset and to highlight how we can grow together as two economies," she added.

Also Read: Experts say Belt and Road Initiative can help Ghana achieve infrastructure development

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