(MENAFN- Kuwait News Agency (KUNA)) KUALA LUMPUR, Oct 27 (KUNA) -- Australia's Prime Minister Anthony Albanese on Monday pledged AUD 20 billion (USD 13 billion) on Monday 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 said Australia aims to be a "participant, partner, and investor," noting last year's gains in two way trade up nearly AUD 6 billion (USD 3.92 billion) and Australian investment up about AUD 2 billion (USD 1.30 billion).
The 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, he explained.
Planned investments span agriculture in Laos, renewables in Thailand, infrastructure in Vietnam, and expanded logistics through Toll Group, he added.
Meanwhile, Indonesia's President Prabowo Subianto, in remarks delivered by Coordinating Minister Airlangga Hartarto, urged stronger ASEAN economic integration through Regional Comprehensive Economic Partnership (RCEP), highlighting the region's global weight 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 stressed 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. (end)
aab

MENAFN27102025000071011013ID1110252649