“The Business Council of Australia (BCA) welcomes the government’s decision to join the Asian Infrastructure Investment Bank (AIIB) as a founding member, ” BCA Chief Executive Jennifer Westacott said.

“As a founding member, Australia can play a key role in setting the direction of this body and the decisions it will make to finance projects that address Asia’s infrastructure gaps.

“Australian companies will benefit from opportunities to participate in developing and building new AIIB financed infrastructure, as well as having access to improved infrastructure which facilitates trade in the region.  

“Infrastructure investment in Asia is essential to sustaining economic growth, and the AIIB’s promise of an additional $100 billion will be important to meeting these infrastructure needs.

“We welcome the government’s announcement that the AIIB’s governance arrangements will adopt best practice, and encourage the government to ensure the AIIB works with other institutions, like the G20 Global Infrastructure Hub, to meet common objectives for infrastructure provision in the region,” Ms Westacott said.

For further information contact:
Scott Thompson, Director, Media and Public Affairs
Business Council of Australia
Telephone (03) 8664 2664 • Mobile 0403 241 128