US-Japan-Australia Announce Trilateral Partnership for Indo-Pacific Infrastructure Investment
July 30, 2018
(OPIC)
WASHINGTON – Today at the Indo-Pacific
Business Forum, hosted by the U.S. Chamber of
Commerce, leaders from the U.S.’s Overseas
Private Investment Corporation, the Japan Bank
for International Cooperation (JBIC), and the
Australian government announced a trilateral
partnership to invest in infrastructure
projects in the Indo-Pacific region that build
infrastructure, address key development
challenges, increase connectivity, and promote
economic growth.
OPIC President and CEO Ray W. Washburne, JBIC
Governor Tadashi Maeda, and Australian Embassy
Chargé d’affaires Katrina Cooper issued the
following joint statement on the trilateral
partnership:
"The United States, Japan, and Australia have
formed a trilateral partnership to mobilise
investment in projects that drive economic
growth, create opportunities, and foster a
free, open, inclusive and prosperous
Indo-Pacific. We share the belief that good
investments stem from transparency, open
competition, sustainability, adhering to robust
global standards, employing the local
workforce, and avoiding unsustainable debt
burdens.
“We will uphold these principles as we
mobilise investment in infrastructure, such as
energy, transportation, tourism, and technology
that will help stabilize economies, enhance
connectivity, and provide lasting benefits
throughout the region. To deepen this
trilateral partnership, we are currently
developing a framework for cooperation. OPIC is
also placing a representative in the U.S.
Embassy in Tokyo, Japan.
“As we look to the future, this partnership
represents our commitment to an Indo-Pacific
region that is free, open and prosperous. By
working together, we can attract more private
capital to achieve greater results.”
At the U.S. Chamber event, the three
aforementioned participants announced future
plans for a formalized trilateral Memorandum of
Understanding (MOU) and OPIC announced the
placement of a staff member in the U.S. Embassy
in Tokyo to better facilitate cooperation.
Japan has committed to advancing sustainable
infrastructure in the Indo-Pacific, and OPIC is
coordinating with Japanese partners on
co-investment under two bilateral MOUs signed
in November 2017 last year. OPIC signed a
similar MOU with Australia in February 2018.
On July 17, 2018 in Singapore, OPIC convened
the first trilateral meeting to discuss
coordination on infrastructure investment,
formalizing the trilateral partnership, and
holding continuous dialogues to enhance
collaboration.
OPIC currently has $4 billion invested across
the Indo-Pacific in projects that are expanding
access to energy, education and financial
services and supporting local farmers.
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