Japan in $20b ASEAN charm offensive

abe drinkJapan has pledged $20 billion in financial support to Southeast Asian countries at the Japan-ASEAN summit in a bid to counter the increasing influence by China in the region.

Japan’s Prime Minister Shinzo Abe said that the funds will be the loans and grants to be disbursed over five years. He also announced an expansion of the Japan-ASEAN Integration Fund aimed at economic integration of Southeast Asian countries. Japan has expanded currency swap agreements with Indonesia and the Philippines.

The summit comes at a time when Japan is re-engaging with the region after several years in which it has been outpaced by China’s growing economic power. Japan is also hoping to rally support in its dispute with China over a chain of uninhabited islands in the East China Sea.

Philippine President Benigno Aquino, who met Abe ahead of the summit, said the two countries reiterated “commitment to uphold the rule of law, promote the peaceful settlement of disputes, and to assure freedom of flight in international airspace”.

Indonesian President Susilo Bambang Yudhoyono said Southeast Asian nations were hoping Japan and China would mend their frayed ties to help minimise the risk of tensions flaring into conflict in the region.

“It must be said that good relations between China and Japan are critical to the future of our region,” Yudhoyono said.



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Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Japan has pledged $20 billion in financial support to Southeast Asian countries at the Japan-ASEAN summit in a bid to counter the increasing influence by China in the region. Japan's Prime Minister Shinzo Abe said that the funds will be the loans and grants to be disbursed over five years. He also announced an expansion of the Japan-ASEAN Integration Fund aimed at economic integration of Southeast Asian countries. Japan has expanded currency swap agreements with Indonesia and the Philippines. The summit comes at a time when Japan is re-engaging with the region after several years in which it has been...

abe drinkJapan has pledged $20 billion in financial support to Southeast Asian countries at the Japan-ASEAN summit in a bid to counter the increasing influence by China in the region.

Japan’s Prime Minister Shinzo Abe said that the funds will be the loans and grants to be disbursed over five years. He also announced an expansion of the Japan-ASEAN Integration Fund aimed at economic integration of Southeast Asian countries. Japan has expanded currency swap agreements with Indonesia and the Philippines.

The summit comes at a time when Japan is re-engaging with the region after several years in which it has been outpaced by China’s growing economic power. Japan is also hoping to rally support in its dispute with China over a chain of uninhabited islands in the East China Sea.

Philippine President Benigno Aquino, who met Abe ahead of the summit, said the two countries reiterated “commitment to uphold the rule of law, promote the peaceful settlement of disputes, and to assure freedom of flight in international airspace”.

Indonesian President Susilo Bambang Yudhoyono said Southeast Asian nations were hoping Japan and China would mend their frayed ties to help minimise the risk of tensions flaring into conflict in the region.

“It must be said that good relations between China and Japan are critical to the future of our region,” Yudhoyono said.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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