Nigel Scullion (NT, Country Liberal Party, Minister for Indigenous Affairs) Share this | Hansard source

Firstly, I would like to thank those senators who have contributed to this debate. In summation, this bill is necessary for Australia to become a founding member of the Asian Infrastructure Investment Bank. This new international financial institution will drive economic growth and jobs in our region by funding major infrastructure projects. Australia's prosperity and economic growth is closely tied to the region. Australia's economy will benefit from improved infrastructure in Asia. Over 70 per cent of our merchandise exports go to the Asian region. Australia's membership of the Asian Infrastructure Investment Bank and stronger economies in Asia will provide great opportunities for Australian trade and business. I look forward to the day when the Asian Infrastructure Investment Bank might invest in infrastructure here at home. I commend this bill to the Senate.