{"id":48824,"date":"2024-03-05T16:01:58","date_gmt":"2024-03-05T06:01:58","guid":{"rendered":"https:\/\/abnews.com.au\/?p=48824"},"modified":"2024-03-05T16:01:58","modified_gmt":"2024-03-05T06:01:58","slug":"australia-sets-up-1-3-bn-fund-to-grow-trade-with-asean","status":"publish","type":"post","link":"https:\/\/aglowmedia.com.au\/?p=48824","title":{"rendered":"Australia sets up $1.3 bn fund to grow trade with ASEAN"},"content":{"rendered":"<p><strong>Australia unveiled plans to ramp up investment in Southeast Asia on Tuesday, setting aside US$1.3 billion to bolster trade in a region of rising economic might.<\/strong><\/p>\n<p>Prime Minister Anthony Albanese announced the funding as leaders from the 10-nation ASEAN forum met in Melbourne for a three-day summit.<\/p>\n<p>&#8220;The government I lead has made it clear. More than any other region, Southeast Asia is where Australia&#8217;s future lies,&#8221; Albanese told a business forum on the summit&#8217;s sidelines.<\/p>\n<p>Following a series of bruising disputes, Australia has increasingly looked to build economic ties outside of major trading partner China.<\/p>\n<p>Fuelled by years of swift and sustained population growth, the ASEAN bloc is widely seen as an emerging economic powerhouse.<\/p>\n<p>With vast deposits of critical minerals and a booming appetite for electricity, Southeast Asia is also poised to play a major role in the global push for clean energy.<\/p>\n<p>Australia&#8217;s new funding package will provide export financing and loans geared largely towards infrastructure and renewable energy projects.<\/p>\n<p>Albanese said it was &#8220;the most significant upgrade of Australia&#8217;s economic engagement with ASEAN for a generation&#8221;.<\/p>\n<p>Climate change looms large on the agenda as leaders from the Association of Southeast Asian Nations jet into Melbourne for a &#8220;special summit&#8221; with Australian counterparts.<\/p>\n<p>Southeast Asia&#8217;s hunger for energy is largely fed by fossil fuels, while Australia remains one of the world&#8217;s biggest exporters of gas and polluting thermal coal.<\/p>\n<p>Both are increasingly eager to pivot toward renewable energy.<\/p>\n<p>Source: BSS<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australia unveiled plans to ramp up investment in Southeast Asia on Tuesday, setting aside US$1.3 billion to bolster trade in a region of rising economic might. Prime Minister Anthony Albanese announced the funding as leaders from the 10-nation ASEAN forum met in Melbourne for a three-day summit. &#8220;The government I lead has made it clear. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":48825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[696],"class_list":["post-48824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english","tag-australia-sets-up-1-3-bn-fund-to-grow-trade-with-asean"],"_links":{"self":[{"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/posts\/48824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48824"}],"version-history":[{"count":0,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/posts\/48824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}