E&OE
26 March 2009
Doorstop Interview, Chongqing
Subjects: Foreign investment in Australia, diplomatic representation in China
JOURNALIST: I’m from Chongqing Economic Times. I have a question. What’s your opinion of Chinese capital and companies investing in Australia?
STEPHEN SMITH: Well, Australia welcomes capital investment. Australia has been a prosperous country historically for two reasons: being an attractive place for capital investment and being a great trading nation. So we welcome foreign investment or capital investment into Australia. But in any large foreign investment, our Treasurer, the Treasurer of the day, makes a judgement about whether that’s in our national interest. And there are a number of foreign investment applications he has before him at the moment where he’s considering the national interest implications. So he’ll make those decisions in due course. As a general proposition, Australia very much welcomes foreign investment into Australia.
JOURNALIST: Thank you. Another one. What’s the point of cooperation between Chinalco and Rio Tinto?
SMITH: Well, that’s one of the individual applications that is before the Treasurer. The proposed Chinalco investment into Rio Tinto, that’s one of the very significant foreign investment applications before the Treasurer, and that’s one of the matters he has before him. He’ll make a judgement about the national interest implications and he has under the foreign investment review legislation about another 90 days to make that judgement. So it’s a very substantial, complex investment and he’ll make his decision in due course.
JOURNALIST: I’m from Chongqing TV station. I think one of the reasons you’re coming here is to have a preview, to see whether it’s possible for Australia to set up a Consulate here. After your research here, what do you think of the chances of you doing so? Is it 100 percent certainty, or what?
SMITH: Firstly, one of the reasons I’ve come to Chongqing is to make the point that Australia very much understands China is much more than Beijing or Shanghai or Guangzhou. Which is why on my first official visit as Foreign Minister, I’ve come to the west. And we are looking at greater representation in China. Of course, we have diplomatic representation in Beijing, in Shanghai, in Guangzhou and also in Hong Kong. But we do want to enhance and expand our representation. And my visit here, my discussions with Mayor Wang this morning, I’m about to have discussions with Party Secretary Bo, these will be very helpful, not just in making a decision about future consular representation but also enhancing generally the relationship between Chongqing and Australia. Can I make this point. One of the reasons I’ve come here to this site, the site of Australia’s first official diplomatic representation in China, is that there would be a very significant historical symmetry in an Australian mission returning to Chongqing.
JOURNALIST: So you mean this site is the best choice for the Consulate?
SMITH: We’re giving that consideration, about expanding our representation in China. That includes consideration of Chongqing. But there is, as I put it, a very significant historical symmetry in Australia returning to Chongqing.
JOURNALIST: I’m from Chongqing Economic Times (inaudible).
SMITH: The reason or the purpose of my visit here is to make the point that Australia wants to enhance its contact and relations with Chongqing. There’s very significant economic potential and we’re encouraging Australian companies to contemplate investing and basing in Chongqing. There are very significant areas, we think, between Australia and China, where we can enhance the arrangements between Australia and Chongqing – health and medical science, energy efficiency, agricultural products. There’s significant opportunities and we’re encouraging Australian companies to look to the west, to look to Chongqing.
JOURNALIST: Thank you.
[ENDS]
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