New Zealand to invest NZ$200m in Asean

KUALA LUMPUR: New Zealand will invest more than NZ$200 million ((RM562 million) into Asean to boost its trade and investment.
New Zealand Prime Minister John Key (pix) said the pacific nation relationship with Asean would be upgraded from comprehensive partnership to a strategic partnership.
"This year we celebrate 40 years of diplomatic relations with Asean, a key regional partner. Asean, a home to 625 million people and with GDP expected to grow to US$5.2 trillion (RM22.3 trillion) by 2030 presents a significant opportunities for New Zealand and in recent years we have seen strong growth in state," Key said.
He added New Zealand will also increase its investment into Asean, which will be made in stages over a three year period.
"The funding will focus on building the capability of the region's people and creating links between our young leaders and emerging entrepreneurs.
"We will also expand trade and economic cooperation and capacity building efforts, focusing on New Zealand's trade and agricultural expertise," Key said.
He also said that New Zealand government will increase its efforts to help improve the ability of Asean member states to respond to natural disaster.