Australia’s 2040 Strategy Aims To Strengthen Trade, Investment Ties With Southeast Asia - Penny Wong

By Muhammad Faiz Baharin

KUALA LUMPUR, July 10 (Bernama) -- Australia’s Southeast Asia Economic Strategy to 2040 lies at the core of its renewed commitment to strengthening two-way trade and investment with the Southeast Asia region, which is projected to become the world’s fourth-largest economy by 2040.

Australian Foreign Minister, Penny Wong, said that enhancing engagement with Southeast Asia -particularly through rebuilding trust and deepening cooperation - has become a key priority for the government under Prime Minister Anthony Albanese’s leadership.

“It is (ASEAN) central to regional stability, guards against conflict and reinforces the rules and norms that protect us all,” she said in a statement on Thursday.

Noting Australia is ASEAN’s first Dialogue Partner and a Comprehensive Strategic Partner, Wong also commended the regional bloc’s critical contribution to the country aspirations for the region.

She added that as Australia marks 70 years of diplomatic presence in Malaysia, she looks forward to meeting Prime Minister Anwar Ibrahim and Foreign Minister Mohamad Hasan to discuss ways to further strengthen economic, strategic and people-to-people ties between the two countries.

She also reiterated Australia’s strong support for Malaysia’s ASEAN Chairmanship in 2025, noting that its theme on Inclusivity and Sustainability reflects shared values and common goals between both countries.

In the same statement, Wong emphasised that she will reaffirm Australia’s commitment to working with ASEAN on conflict prevention, as well as its steadfast support for multilateralism, rules-based trade and international law, during the East Asia Summit Foreign Ministers’ Meeting and the ASEAN Regional Forum scheduled for tomorrow.

Wong on Thursday attended the Post-Ministerial Conference (PMC) of the 58th ASEAN Foreign Ministers’ Meetings (AMM) at Kuala Lumpur Convention Centre (KLCC) here.

The session, chaired by Indonesian Foreign Minister Sugiono, was also attended by Mohamad, ASEAN Secretary-General Dr Kao Kim Hourn, as well as foreign ministers from ASEAN member states and Timor-Leste.

-- BERNAMA