Sydney (VNA) – Australian Minister for Foreign Affairs Stephen Smith says ASEAN has particular economic and strategic importance for Australia.
The relations between the two sides have never seen such potential, the Minister said at the Lowi International Institute in Sydney on July 18.
The Minister noted that from 2008-2009, Australia’s development assistance for the East Aisa region will be nearly 1 billion USD with most of the sum for ASEAN members, making Australia one of the group’s major development partners.
Australia’s two-way trade with ASEAN totalled more than 55 billion USD last year. Minister Smith said that an on-negotiating Free Trade Area (FTA) between ASEAN, Australia and New Zealand will strengthen trading relationship and contribute to stronger investment flows.
There are over 70,000 students from ASEAN countries studying in Australia, he added.
ASEAN includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, the Philippines, Thailand and Vietnam.-Enditem
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