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The Australian government will not vary or cancel the lease of Port of Darwin to Chinese-owned Landbridge after a national security review.
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The Department of the Prime Minister and Cabinet announced a review into the circumstances of the lease of Port of Darwin had been finalised on 20 October.
Landbridge was originally awarded a 99-year lease in 2015 for the port in a deal worth $506 million dollars and the government committed to reviewing the circumstances of the lease following the 2022 election.
The review found that a robust regulatory system is in place to manage risks to critical infrastructure, existing and ongoing monitoring mechanisms are sufficient, and it is not necessary to vary or cancel the lease.
It also considered previous findings and outcomes as well as risk management and mitigation arrangements to protect national security interests.
Prime Minister Anthony Albanese has also announced plans to travel to Beijing in the People’s Republic of China for the first time from 4 to 7 November, at the invitation of President Xi Jinping and Premier Li Qiang, and will attend the China International Import Expo.
He also announced an agreement with China to move forward to resolve trade disputes and a Chinese review of its trade duties over the next five months.
Australia and China have agreed they will suspend the dispute on wine in the WTO pending the outcome of this review. If the duties are not removed at the end of the review, Australia will resume the dispute in the WTO.
During the Prime Minister’s visit, which also marks the 50th anniversary of the first visit to China by any Australian Prime Minister (Gough Whitlam) in 1973, the leaders will discuss cooperation in a range of areas including economic links, climate change, and links between their people.
“I look forward to visiting China, an important step towards ensuring a stable and productive relationship,” Prime Minister Anthony Albanese said.
“I look forward to further engaging with President Xi and Premier Li in Australia’s national interest.
“Prime Minister Whitlam’s historic visit laid the groundwork for the diplomatic, economic and cultural ties that continue to benefit our countries today.
“I welcome the progress we have made to return Australian products, including Australian wine, to the Chinese market. Strong trade benefits both countries.”
“President Xi of course has visited Australia many times. Indeed, one of the things at the first meeting that I had with President Xi, was he would be one of the few world leaders who was proudly saying that he has visited every state and territory here in Australia.
“We're focused on putting together the arrangements for the visit in November. I think it will be a very positive visit and I look forward to it taking place and it achieving further positive outcomes.
“It's in Australia's interest to have good relations with China.”
The review was conducted by the Department of the Prime Minister and Cabinet, in consultation with the Department of Defence, Department of Foreign Affairs and Trade, Attorney-General’s Department, Department of Home Affairs, Office of National Intelligence, and Australian Security Intelligence Organisation.
