Federal Member for Fairfax

Media release

Federal leader of the Palmer United Party and Member for Fairfax, Clive Palmer, today called on the Abbott Government to establish Australia as a foundation member of the Asian Infrastructure Investment Bank (AIIB).

Mr Palmer said Australia’s future was tied to Asia and participating in the international financial institution would be crucial to the nation’s economic development.

“We need to cooperatively engage with Asian countries such as China, Japan and Korea,’’ Mr Palmer said.

He said Australia had already debated the concept, previously championed by former Prime Minister Malcolm Fraser in 1999, calling for the establishment of an Asian monetary fund for the purpose of enterprise and growth in a multicultural region.

“We have seen the Obama administration engage with the AIIB and this is a great sign for all countries in the world of the importance of peace and cooperation Mr Palmer said.

“Investment in infrastructure with all Asia Pacific countries is crucial for our region.

“Japan, Korea, China and Australia must work co-operatively. The Pacific Ocean doesn’t separate Asia, the US and other nations but joins all countries as a lake of peace where co-operation is key.

“As Chinese Foreign Minister Wang said, it’s an Asian infrastructure investment bank and Japan is an important part of Asia, we can co-operate together.”

“Australians should never forget the words of Winston Churchill – to jaw-jaw is always better than to war-war.

“2015 marks 70 years since World War II, we can’t change history but we can acknowledge it and use it to guide us to a better future.”

Mr Palmer said Australia needed to play a pivotal role as a foundation member in the AIIB as it was fundamental to the country’s future.

“By being a part of the AIIB Australia can assure good governance, environment and social safeguards,” Mr Palmer said.

“This is an opportunity for a win-win for all countries and citizens and we must reach out and unite with our Asian neighbours.”

ENDS