Northern Territory uniquely placed to benefit from China’s Belt and Road Initiative, says Chinese Ambassador Cheng Jingye

THE Territory is uniquely placed to take advantage of China’s Belt and Road Initiative deepening Sino-Australian relationships, according to the Chinese Ambassador Cheng Jingye

Warren Snowdon, Michael Gunner, John Brumby and Chinese ambassador Cheng Jingye at the ‘One Belt, One Road’ conference

CHINESE Ambassador Cheng Jingye believes the Territory is uniquely placed to take advantage of his country’s Belt and Road Initiative deepening Sino-Australian relationships.

And at least one Territory business is looking to be actively involved in China’s BRI with Darwin Innovation Hub telling a collective of Chinese dignitaries on Tueday night it intends to press ahead with two projects consistent with the Belt Road policy.

Speaking at a “One Belt, One Road” conference organised by the Australia Chinese Business Council NT, Mr Cheng said the Oceania region was the “natural extension” of the maritime silk road.

DIH founder and chief executive Harley Paroulakis said the goal at the hub included attracting a Chinese company to the NT as well as providing the opportunity to send an NT company to China.

“First, we attract a Chinese company to the Northern Territory that is able to test bed an innovation or technology in a Northern Territory industry,” Mr Paroulakis said.

“Our industry sectors or ‘sandbox’ are vast and wide-ranging from energy generation opportunities, agritech, oil and gas tech, mining and exploration technology, aquaculture and research and development opportunities at Charles Darwin University.

“The second, backing a Northern Territory innovation company to set up in China.

“Our company is also open to the possibility of developing partnerships with Chinese companies in the innovation and investment sectors potentially via a parallel venture capital funding agreement that focuses on Belt Road innovation investments between our two countries.”

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Mr Cheng said active interactions would lead to further exploration of possible co-operation between China and Australia under the BRI framework.

“Local co-operation is an integral part and important basis of China-Australia relations. Darwin is the North gateway of Australia,” he said.

“ The excellent location of NT equip it with special advantages in developing its trade and economic co-operation with China and participating in BRI.

“It’s my belief the NT will make full use of its own advantages and seize further opportunities in its co-operation with China.”

The One Belt One Road conference continues on Wednesday with a number of panel sessions.