MEDIA RELEASE
Released By:
Downer
Australia will fund $5 million worth of critical research to help ASEAN countries develop closer economic links with other East Asian nations.
This is part of $10.5 million in Australian development assistance to ASEAN that I have announced today in Kuala Lumpur, on the eve of the inaugural East Asian Summit.
In all, four initiatives focusing on trade and economic development will be funded. The $5 million project will fund joint research examining economic integration between ASEAN nations and other East Asian nations - Japan, the Republic of Korea, China, India, New Zealand and Australia. It builds on work already underway through the highly successful ASEAN-Australia Development Cooperation Program.
Australia will also help ASEAN nations build up expertise in free trade negotiations and implementation. This will happen through a new $1.5 million Free Trade Agreement Capacity Building Facility. By supporting ASEAN nations in their efforts to seek greater access to the world's trade markets, we make a practical contribution to building economic growth and tackling poverty in our region.
We will implement a $2.7 million initiative supporting ASEAN's East ASEAN Growth Area initiative. Workshops and pilot activities will cover security, private investment, infrastructure development and aid donor coordination.
We will also be providing a $1.3 million contribution to the recently created ASEAN Development Fund.
Australia has worked in partnership with ASEAN for over 30 years. We have now committed more than $50 million to our ASEAN-Australia Development Cooperation Program since 2002.
Media contacts:
Chris Kenny (Minister's Office): 0419 206 890
AusAID (Public Affairs): 0417 680 590