Projet de loi portant approbation des statuts et de la résolution n°24 du Conseil des Gouverneurs de la Banque asiatique d'investissement dans les infrastructures.
General information ¶
- Submitted by
- MR Swedish coalition
- Submission date
- April 20, 2018
- Official page
- Visit
- Status
- Adopted
- Requirement
- Simple
- Subjects
- Asia financial institution investment investment policy
Voting ¶
- Voted to adopt
- Groen CD&V Vooruit Ecolo LE PS | SP ∉ Open Vld N-VA MR PVDA | PTB PP VB
Contact form ¶
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Discussion ¶
May 31, 2018 | Plenary session (Chamber of representatives)
Full source
Rapporteur Richard Miller ⚙
I will not review the whole report, but I will highlight some aspects.
I would like to remind in a few words the importance of this bill presented by the Minister of Finance. This is a large-scale project approving the Statute of the Asian Infrastructure Investment Bank. The Asian Bank was established in June 2015 with the aim of promoting sustainable economic growth in this region of the world.
Belgium was not one of the founding members. Questions were asked about the environmental and social practices that were to be implemented, answers were provided. In order to close the accession procedure, Belgium must approve the statutes of the establishment and accept the resolution of the Board of Directors. Our country will obtain 2,846 shares in the establishment for a total of $284.6 million.
Several questions were asked by our colleague Mr. Van Peteghem, regarding the possible economic impacts, and on the environmental and social conditions. He also questioned whether it is appropriate to limit itself to such an amount. Ms. Capoen asked questions about the importance of the Bank for our relations with China and the entire region. Mr Van der Maelen asked about the relations between the different Member States of the European Union. The Minister replied that a structured consultation was organised and implemented within the Eurogroup. To questions about environmental and social standards, the Minister replied that these are those that are also applied by the World Bank.
Various questions have been asked about relations with the United States and Japan, ⁇ by myself. These two countries are not among the founding members of this bank.
Responses were provided by the minister who informed us that Japan’s attitude is evolving on this subject.
Finally, a member of the committee intervened. This is our colleague Mr. Flahaux, who insisted on China’s attitude. But I know that he intends to develop his point of view at the tribune.
In conclusion, the whole bill was adopted unanimously.
Jean-Jacques Flahaux MR ⚙
Mr. Speaker, Mr. Minister, dear colleagues, the bill that we are dealing with today represents much more than the simple approval of the statutes of a new development bank. Belgium’s accession to the Asian Infrastructure Investment Bank is a much larger challenge.
As I recalled in this session, in January last year, during an up-to-date question to the Secretary of State, Mr. De Crem, the participation of our country aims to ⁇ a double goal. First of all – I knowingly quote this goal first – it is, for us, to control from the inside the observance of the rules of international financing of infrastructure on the social level as well as on the human rights and the environment. This point is more important than it might seem at first glance, as the Bank’s activities are mostly carried out in countries that, unfortunately, provide low social protection to workers.
Then, Belgium’s accession will allow our companies to penetrate more into the local markets and thus increase their recognition in Asia. This agreement will – I hope – have an exponential boosting effect on our economy by allowing us to be present and active in the world’s most dynamic region.
Dear colleagues, if we naturally endorse this bill, allow me, however, on behalf of the MR, to make a few remarks.
First, I would like to continue to raise awareness about the problem of respect by this bank for environmental and human rights, especially social rights. It seems to me extremely important that Belgium be ⁇ attentive to the ethical behavior of this institution.
In addition, the Bank will have to find its fair place in relation to other credit institutions of the same type, such as the World Bank, the Asian Development Bank (of Japanese origin) or the European Bank for Reconstruction and Development. Belgium will need to pay particular attention to finding better coordination between these banks, in order to avoid the creation of competition between these different financial institutions.
Finally, the geopolitical issues should not be forgotten. The Asian Infrastructure Investment Bank will primarily be used to finance the Chinese project of a new silk road, One Belt, One Road (OBOR), titanium both by its scale and cost. The development of transport and communications infrastructure in a region of the world that is severely lacking will enable better connectivity between territories and thus can not only encourage the flow of goods but also of people.
On paper, we can only support the Chinese president’s initiative. However, we will need to be aware that this Silk Road project does not only serve to increase hegemony in the region of what can be called the Middle Empire. There is a very real risk that tensions between China and its neighbors, notably Japan and India, will worsen as a result. Thus, the projects supported by the Bank will have to maintain a certain balance in the region.
Finally, I add that the noticeable absence in this bank of the United States and Japan, which are members of the other banks, must be noted.
Mr. Minister, we believe that the membership of Belgium in the Asian Infrastructure Investment Bank can only be beneficial overall. Our companies will have access to large-scale projects in different sectors such as underground works for the subway, the construction of power plants and port projects including dragging.
Mr. Speaker, in conclusion and in the light of the elements I have developed, the MR Group supports this project dedicated to the development of infrastructure in a region of the world in rapid expansion and hoping that Belgium will benefit from it to the extent of the expertise it will bring.