Kuala lumpur: Australia's Prime Minister Anthony Albanese on Monday pledged AUD 20 billion (USD 13 billion) in investments at the Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur to deepen regional economic ties and integration with Southeast Asia. Speaking at the ASEAN-Indo-Pacific 2025 Forum (AIPF) as part of the 47th ASEAN Summit, he expressed Australia's commitment to being a "participant, partner, and investor," noting last year's gains in two-way trade, which increased by nearly AUD 6 billion (USD 3.92 billion), and Australian investment, which rose by about AUD 2 billion (USD 1.30 billion).
According to Kuwait News Agency, the investment package includes USD 175 million in new capital for the Asian private equity "Industry Funds Management" vehicle to open regional markets to 15 Australian pension funds, and USD 50 million for a Plenary-led platform supporting public-private infrastructure projects. These investments are planned to span various sectors, including agriculture in Laos, renewables in Thailand, infrastructure in Vietnam, and expanded logistics through Toll Group.
Meanwhile, Indonesia's President Prabowo Subianto, in remarks delivered by Coordinating Minister Airlangga Hartarto, urged stronger ASEAN economic integration through the Regional Comprehensive Economic Partnership (RCEP). He highlighted the region's global significance in population, gross domestic product (GDP), growth, trade, and shipping. He projected that by 2030, residents of the Indo-Pacific could form two-thirds of the world's middle class and emphasized the importance of inclusive growth through equal opportunity and quality education.
AIPF 2025 was held as part of the 47th ASEAN Summit and related meetings in Kuala Lumpur from 26-28 October, with regional and global leaders participating. ASEAN, founded in 1967, now has 11 members: Malaysia, Indonesia, Singapore, Thailand, the Philippines, Brunei, Vietnam, Laos, Cambodia, Myanmar, and Timor-Leste.