One Belt deal revealed
Victoria has released its MoU with Beijing over the controversial One Belt One Road initiative.
The Memorandum of Understanding was to be kept secret by the Andrews Government, but pre-election pressure from the state’s Liberal opposition has forced the document into public view.
One Belt One Road is a vast plan to build trade routes across the globe, including high-speed rail in Europe, massive shipping ports in Asia and the Pacific, and a series of free trade agreements.
The MoU commits Victoria to working with Beijing on future projects and while there is not much detail on specific projects, the document makes repeated mention of “cooperation” and “promoting the Silk Road spirit” in Victoria.
The document says Beijing and the Victorian Government will work together “with the aim of promoting connectivity of policy, infrastructure, trade finance and people” and look for ways to “inject new momentum” into “beneficial cooperation for common development”.
The two parties say they will enhance “unimpeded trade”, despite international trade being a federal issue.
Victoria already has strong trade links Beijing, having tripled its share of Chinese investment in Australia, Premier Daniel Andrews says.
Some have questioned just how meaningful the document is.
“This MoU does not create legal relations or constitute a legally binding agreement between the parties,” the MoU states.
“The MoU does not bind Victoria to be involved in any specific project or initiative,” the Victorian Government said in a statement.
“As it always does, the Government will consider both the Victorian and national interest before agreeing to be involved in any specific activity.”
The agreement is available in PDF form, here.