Arab Today, arab today australia set to sign mou to help final shape of aiib
Last Updated : GMT 03:14:05
Arab Today, arab today
Arab Today, arab today

Trade Minister Andrew Robb:

Australia set to sign MoU to help final shape of AIIB

Arab Today, arab today

Arab Today, arab today Australia set to sign MoU to help final shape of AIIB

Trade Minister Andrew Robb
Canberra - Arab Today

The Australian federal government is poised to sign a memorandum of understanding (MoU) that will enable Australia to participate as a founding member of the Asian Infrastructure Investment Bank (AIIB), Trade Minister Andrew Robb said on Monday.
Robb said that it was "imperative" that Australia had a "seat at the table" at the AIIB before the March 31 deadline.
He told ABC Radio on Monday it was time to sign a MoU, a crucial step in enabling Australia to shape the final design of the bank. He said despite some lengthy discussions over governance and transparency issues, most of the finer details had now been agreed upon.
"It's time to get 'inside the tent'and influence the final shape of the governance and other matters," Robb said.
"We have been in close contact and consultation from the outset and have made very good progress with the Chinese in the design and transparency issues."
Robb said that the delay in joining the AIIB would not diminish Australia's relationship and influence with other founding members.
"I think our position outside of the group (until now) did help our leverage," he said.
"I think we'll be enthusiastically embraced by the Chinese and others of the board."
Despite strong reservations from the U.S. and Japan about the AIIB, Robb said joining the bank would encourage economic growth and trade within the Asian region.
"There is 750 billion dollars of infrastructure need in our region, and improved infrastructure will help to drive growth and demand in Asia Pacific countries that offer strong future trade and investment prospects for Australia," he said.
Prime Minister Tony Abbott released a joint statement with Treasurer Joe Hockey and Foreign Affairs Minister Julie Bishop on Sunday, which indicated that Australia would be joining the AIIB before the March 31 deadline, even though there still some issues to be ironed out.
"Good progress has been made on the bank's design, governance and transparency over the past few months, but we still have issues that we will address through ongoing consultations," the statement said.
The Beijing-based bank was formed late last year to help finance projects for infrastructure, rail, roads and power throughout key developing Asian countries.
Australia initially showed interest in joining, but had delayed signing an agreement after being asked to join back in October.
Source: XINHUA

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia set to sign mou to help final shape of aiib Arab Today, arab today australia set to sign mou to help final shape of aiib

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 22:38 2017 Friday ,17 February

Investment promotion would be Sahar Nasr's main task

GMT 13:17 2017 Wednesday ,15 February

Yemeni accuses militias of challenging oil

GMT 09:12 2017 Saturday ,11 February

Algorithms: the managers of our digital lives

GMT 09:07 2017 Saturday ,11 February

The biggest players today on Wall Street? Algorithms

GMT 08:15 2017 Saturday ,11 February

Tesla chief in public feud with auto workers union

GMT 06:23 2017 Thursday ,09 February

Oil market can cope with higher shale output

GMT 14:10 2017 Friday ,03 February

Reasons of growth rate conflicting numbers
View News in Arabic - Business: حوارات وتقارير
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday