Mr Smith’s Office: Courtney Hoogen 02 6277 7500 or 0488 244901
Departmental : (02) 6261 1555
MEDIA RELEASE
Stephen Smith MP
Minister for Foreign Affairs
M E D I A R E L E A S E
23 July 2009
Increased support for stronger regional economic growth
Today Thai Foreign Minister Kasit Piromya and I will sign the ASEAN-Australia Development
Cooperation Program (AADCP) Phase II Memorandum of Understanding (MoU).
This is Australia’s largest single program of assistance to ASEAN and is valued at $57 million over
seven years.
The first phase of the program, from 2002-08, increased economic integration across the region, and
increased economic and trade links with Australia and New Zealand. It also helped ASEAN tackle
priority development challenges in science, technology and the environment by strengthening regional
cooperation.
The AADCPII Phase II MoU will promote ASEAN’s further economic integration and growth
through economic policy support to member governments and the ASEAN Secretariat.
It reinforces Australia’s commitment to help the less developed ASEAN members to meet the UN
Millennium Development Goals.
By supporting strong economic policies with ASEAN, the program complements the ASEAN
Australia New Zealand Free Trade Area (AANZFTA), which will further promote trade between
Australia and ASEAN.
Two way trade investment between Australia and ASEAN was valued at over
$88 billion in 2008. ASEAN is a larger trading partner for Australia than any single country, accounting
for 17 per cent of Australia’s goods and services trade in
2007-08.
ASEAN consists of Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore,
Thailand, and Vietnam, with a combined population of 550 million.
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