Hanoi (VNA) – Australia on March 5 announced itsplan to increase investment in the Association of Southeast Asian Nations (ASEAN)by setting up a 1.3-billion-USD finance package to boost trade and investmentin the region.
The fund was announced by Australian Prime Minister AnthonyAlbanese at the three-day Special Summit commemorating the 50th anniversary of the ASEAN-Australia relations in Melbourne.
The fund will focus on clean energy and infrastructure andprovide loans, guarantees, equity and insurance. Australia will also tip in anextra 140 million AUD (91.18 million USD) to extend an existing programme which advises the regionon infrastructure projects.
Australia’s message is clear, the Australian Governmentleader said, stressing that more than any other regions, Southeast Asia is thefuture of Australia.
Besides major trade partner of China, Australia is lookingto build economic relations with other partners. Meanwhile, fueled by years ofrapid and sustained population growth, the ASEAN region is considered anemerging economic powerhouse.
In addition, Southeast Asia, a region with large reserves ofimportant minerals and booming electricity demand, is also poised to play animportant role in efforts to promote global clean energy.
Australia's new funding package will focus on exports,infrastructure and renewable energy projects. PM Albanese said this is"the most significant upgrade in Australia's economic commitment to ASEANin a generation".
Climate change is a topic with a large presence on theagenda of the ASEAN-Australia commemoration summit. Southeast Asia's current"thirst" for energy is still mainly quenched by fossil fuels, whileAustralia is also one of the world's most polluting gas and thermal coalexporters. Therefore, both sides share a common desire to use renewable energyin the future./.
The fund was announced by Australian Prime Minister AnthonyAlbanese at the three-day Special Summit commemorating the 50th anniversary of the ASEAN-Australia relations in Melbourne.
The fund will focus on clean energy and infrastructure andprovide loans, guarantees, equity and insurance. Australia will also tip in anextra 140 million AUD (91.18 million USD) to extend an existing programme which advises the regionon infrastructure projects.
Australia’s message is clear, the Australian Governmentleader said, stressing that more than any other regions, Southeast Asia is thefuture of Australia.
Besides major trade partner of China, Australia is lookingto build economic relations with other partners. Meanwhile, fueled by years ofrapid and sustained population growth, the ASEAN region is considered anemerging economic powerhouse.
In addition, Southeast Asia, a region with large reserves ofimportant minerals and booming electricity demand, is also poised to play animportant role in efforts to promote global clean energy.
Australia's new funding package will focus on exports,infrastructure and renewable energy projects. PM Albanese said this is"the most significant upgrade in Australia's economic commitment to ASEANin a generation".
Climate change is a topic with a large presence on theagenda of the ASEAN-Australia commemoration summit. Southeast Asia's current"thirst" for energy is still mainly quenched by fossil fuels, whileAustralia is also one of the world's most polluting gas and thermal coalexporters. Therefore, both sides share a common desire to use renewable energyin the future./.
VNA
