Expanding our trade and investment will help secure our future prosperity.
The Australian Government's latest report for Australians interested in doing business in ASEAN is called 'ASEAN Now'. Watch Minister for Trade, Tourism and Investment, the Hon Steven Ciobo MP, introduce the report.
ASEAN Now - insights for Australian business. A report on Australia's trade and investment relationship with ASEAN.
The Business Summit Report to Leaders: outcomes and recommendations from the ASEAN-Australia Business Summit 2018.
This report summarises the key recommendations arising from discussions on shared opportunities for trade, investment and increased mutual understanding held at the Business Summit held as part of the ASEAN-Australia Special Summit in Sydney on 16 and 17 March 2018. Over 120 of our region’s business leaders, hundreds of Australian small-and-medium-sized enterprises and business experts attended this event.
The ASEAN region has immense economic potential and it is already a large market for Australian companies. Our $101 billion two-way trade with ASEAN exceeds our trade with the United States and Japan. More than 12,000 Australian businesses from all over the country export to ASEAN, many of them SMEs.
The ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), complemented by our bilateral FTAs with Malaysia, Singapore and Thailand, is a pathway for Australian business to tap into ASEAN.
At the ASEAN-Australia Special Summit in Sydney on March 17-18 2018, the Australian Government announced the ASEAN-Australia Digital Trade Standards joint initiative. The initiative provides a framework for Australia and ASEAN countries to cooperate in developing, adopting and using international standards that promote digital trade and support inclusive economic growth in the region. Australia and ASEAN countries are committed to ensuring our region can reap the full economic and social benefits of joining the digital economy. Read more about the Digital Trade Standards initiative.
A new ASEAN-Australia Infrastructure Skills Dialogue initiative announced at the Special Summit, will bring together industry, government, vocational education and training representatives to discuss ways to address the skills challenges facing the region. Read more on the Special Summit webpage.
The Australian Government also announced three new initiatives to strengthen regional economic integration and infrastructure cooperation between ASEAN countries and Australia, and drive sustainable, open and inclusive regional economic growth. The ASEAN-Australia Infrastructure Cooperation initiative will develop a pipeline of high-quality infrastructure projects to attract private and public investment and improve regional connectivity. Read more on the Special Summit webpage.
Australia is also working with ASEAN towards a more stable and prosperous region. Over the next five years, Australia will help ASEAN develop cities across Southeast Asia in smart and sustainable ways. With a $30 million investment, Australia will provide training and technical assistance to build resilient and competitive communities, including through the development of an ASEAN Smart Cities Network. For more information, see the Special Summit webpage.
Learn more about our trade and investment with ASEAN in this ASEAN fact sheet [PDF].
Learn some key facts about why ASEAN matters.
Australia and ASEAN trade facts
- $101 billion in two-way trade with ASEAN as a group in 2016–17, greater than with the US and Japan
- 5 of our top 15 export markets were ASEAN countries in 2016–17
- 11% of Australia's exports went to ASEAN in 2016–17
- 16% of Australia's imports came from ASEAN in 2016–17
- Australia's exports to ASEAN grew by 13.5% from 2015–16 to 2016–17
- Education-related travel was Australia's largest export to ASEAN as a group in 2016–17
- Australia's largest goods export to ASEAN was crude petroleum in 2016–17
- $224 billion in two-way investment in 2016 — greater than China, Germany or New Zealand
- $81.6 billion in two-way FDI between ASEAN and Australia in 2016
- 12,000+ Australian businesses export to ASEAN
Source: Based on various ABS Catalogues.