Wahyu Dwi Anggoro
IDXChannel - The Australian Government is establishing a AUD2 billion investment financing facility to boost investment in Southeast Asia as part of a suite of economic initiatives announced at the ASEAN-Australia Special Summit in Melbourne this week.
"Australia's economic future lies in our region," Australian Prime Minister Anthony Albanese said in a media release.
"I am proud to lead a Government that is strengthening our trade and investment ties with Southeast Asia, directly contributing to our shared economic prosperity," he stated.
Australia's two-way investment with ASEAN was worth AUD307 billion in 2022. Two-way trade with ASEAN accounted for AUS178 billion in 2022, accounting for 15 percent of Australia's trade, which is greater than the country's trade with Japan or the United States (US).
The intiatives fulfil recommendations from Invested: Australia's Southeast Asia Economic Strategy to 2040, which was launched last year to deepen Australia's economic engagement with the region.
