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Tech Fuels UK Growth, Indo-Pacific Ties Boosted

UK‌ Deepens Indo-Pacific Ties⁤ to Drive Economic Growth and Enhance Security

kuala ​Lumpur, Malaysia – the United ⁢Kingdom ‌is significantly strengthening its engagement ⁤with Southeast Asian nations, aiming to unlock significant economic opportunities for British⁤ businesses⁣ and bolster regional security. This strategic deepening of relations will ⁢be underscored by the UK’s inaugural⁢ participation⁣ in the ASEAN ‍Regional Forum (ARF) as Guest of Chair, a pivotal moment for security ​dialogue with one⁤ of the‍ world’s most dynamic economic regions.

The UK’s commitment to ‌fostering innovation and ‍technology ​collaboration with Southeast Asia was highlighted today at key ‌meetings in Malaysia. This⁢ initiative seeks to drive economic growth and create new avenues‍ for ‌British enterprise across ⁢the Indo-Pacific.

Stepping up cooperation on ⁣regional security, the Foreign Secretary‌ will attend the ARF, the region’s premier security forum. The UK’s ambition to become a permanent⁤ member of the ARF stems from the recognition that shared security threats,from climate-induced instability to the risk of conflict,directly​ impact the UK’s national security. This enhanced security cooperation is a tangible​ demonstration of the government’s “Plan for change,” reinforcing national security for all citizens.

Furthermore, the UK will bolster its collaboration with ⁣ASEAN nations ⁢to combat transnational crime, including scam centres, illicit finance, and ‌illegal migration. ‍These efforts are‍ designed to protect citizens from criminal threats and address⁢ shared vulnerabilities, building upon the ASEAN-UK Plan of Action ​as the fifth anniversary of their Dialogue​ Partnership approaches.

“There is enormous economic potential in the Indo-Pacific with over 50% of the world’s population and 40% of global⁣ GDP,” stated the Foreign Secretary, David Lammy. “This government is breaking down barriers between businesses in ​the UK and⁢ Southeast Asia to tap into this market.”

He added, “We are working together to tackle key threats to our mutual prosperity – illegal migration, illicit finance and scam centres. Engaging with our partners on these enemies of growth ⁤protects⁤ our people and their hard-earned money.”

The⁣ Indo-Pacific ‍region, with Southeast asia as its economic powerhouse, represents a significant opportunity. Southeast Asia alone is the fifth largest economy globally, home to nearly 700 million people, with‌ a youthful demographic.The UK’s accession ‌to the ⁣Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) last December has already opened⁢ doors to a ‍bloc of economies worth £11.7 trillion, ⁤promising substantial⁣ benefits ⁢for UK businesses nationwide.Beyond attending the ASEAN Foreign Ministerial Meeting in Kuala Lumpur, the Foreign‌ secretary will hold bilateral meetings with​ Malaysian Prime ⁤Minister Anwar Ibrahim and Foreign Minister‍ Mohamad Hasan. These discussions aim ⁣to elevate the UK-Malaysia relationship to a Strategic Partnership, with⁤ a particular focus on advancing cooperation in education, energy, defense, and ‌trade to stimulate economic growth.

In a significant move to bolster energy security and climate resilience, the UK will pledge up ​to £70 million to Singapore’s financing Asia’s Transition ⁢partnership (FAST-P). This landmark investment, channelled through British Investment International (BII), will support ‌low-carbon energy projects ⁣and​ innovative business models across Southeast Asia, contributing ​to⁤ a cleaner energy future⁢ and insulating UK billpayers from volatile energy prices.

“We‌ want to work with partners like Singapore‍ to seize the benefits of AI and technology and manage ‍the risks -⁢ supporting⁣ the delivery of the ASEAN Community’s Vision 2045 and the UK’s Plan for Change,” ‍the Foreign Secretary concluded.

This intensified ⁤engagement⁣ underscores⁤ the UK’s commitment to a stable balance of ‌power in the⁢ Indo-Pacific, effective ​conflict⁢ management,⁤ and robust protection against emerging⁣ threats, reinforcing ⁤the nation’s security and⁤ prosperity.

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