Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

Thank you, Senator Whiteaker, and, if I may, I'll preface my remarks by welcoming our international guests from the European Parliament and from the National Assembly. Bienvenu.

To the members of the ADF who are present here: Thank you for your service. Australia is very proud and honoured to have such women and men in the ADF serving our country, so thank you.

Senator, as you know, Australia's prosperity and security lie in our region, which is why I've visited every Pacific Islands Forum member, and all countries of ASEAN other than Myanmar, in my first year as Foreign Minister. After a decade of neglect under those opposite, we were determined to show up, to listen and to build trust. This is why the Prime Minister's visit to Malaysia for ASEAN meetings this week is so important. It is an opportunity to further strengthen Australia's relationships and to advocate for a peaceful, stable region, for the creation of jobs and economic growth here at home.

Yesterday, the government announced two new milestone investments, as part of our South-East Asia economic strategy to 2040, taking advantage of being part of the fastest-growing region in the world, bringing together Australian businesses and investors, to expand our presence and seize the opportunities of the historic growth underway in the Indo-Pacific.

We announced the government will invest $175 million into IFM Investors' Asia-Pacific Debt Fund and US$50 million into a new South-East Asian public private partnership investment fund established by the Australian Infrastructure Specialist Plenary. This adds to the work we have already done to deliver almost a billion dollars of new Australian investment under our South-East Asian economic strategy. Two-way trade has increased by $6 billion between 2023 and 2024. Together, the economies of ASEAN are Australia's second-largest trading partner. This delivers jobs for Australia. (Time expired)