Home GRASP GRASP/China China hopes new Silk Road will pave path for cooperation with Australia

China hopes new Silk Road will pave path for cooperation with Australia

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CHINA expects positive moves to signing up Australia for its New Silk Road initiative when Premier Li Keqiang visits this week, but two sources familiar wi
CHINA expects positive moves to signing up Australia for its New  Silk Road initiative when Premier Li Keqiang visits this week, but two sources familiar with the issues said the Australian government is likely to bide its time before committing.
The plan, officially called the One Belt, One Road ( Obor) initiative, is a signature foreign and economic policy of Chinese President Xi Jinping, envisioning massive infrastructure spending to link China to Asia and beyond.
Chinese Vice-Foreign Minister Zheng Zeguang told reporters on Tuesday there were “many opportunities and space for cooperation” between China and Australia for One Belt, One Road , a subject he said Li would bring up on his Australia visit.
Without elaborating, Zheng said:
Discussions over a potential Belt and Road memorandum of understanding began last October, while Xi first raised Northern Australia as a potential Belt and Road investment destination during his visit to Australia in 2014.
“The information in just the past one or two days is that there will be no memorandum signed as hoped,” one source told Reuters on condition of anonymity.

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