Australia pledges 1.3 billion USD to spur Southeast Asia investment

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(VOVWORLD) - Australia will establish a 1.3 billion USD fund to boost trade and two-way investment with Southeast Asia, Prime Minister Anthony Albanese said at a special summit between Australia and ASEAN in Melbourne on Tuesday.

He said Southeast Asia is where Australia’s future lies. The fund will provide loans, guarantees, equity and insurance to bolster two-way trade and investment with ASEAN member nations and support the clean energy transition.

Prime Minister Albanese said the decision marked Australia’s most important commitment to ASEAN.