Championing deeper economic ties with Southeast Asia
Nicholas Moore Australia’s Special Envoy for Southeast Asia
Australia’s strong economic growth after World War II was driven by waves of development across Asia, particularly Japan, Korea and China. Now Southeast Asia is rapidly developing and providing similar opportunities, with new industries adding to the story – notably renewable energy and digital technologies.
Southeast Asia is home to a growing, youthful and dynamic cohort of markets. When we look at Australia’s two-way trade with the 10 member countries of the Association of Southeast Asian Nations (ASEAN), this passed AUD150 billion in 2021-22, representing more than 14 per cent
of Australia’s overall trade. This is greater than our two- way trade with Japan or the United States.
The consumer class in Southeast Asia is increasing, with greater purchasing power. In Indonesia, the Philippines, Malaysia and Vietnam, immense growth is set for the next few decades. By 2040, across most Southeast Asian economies, there could be almost 26 million households with more than USD35,000 in disposable income.
Australia’s Special Envoy for Southeast Asia, Nicholas Moore, is leading the development of the Australian Government’s Southeast Asia Economic Strategy to 2040. The strategy aims to bring greater momentum to our engagement with the region by identifying current and emerging opportunities for Australian business across key regional markets to grow our two-way trade and investment relationships.
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business envoy
Department of Foreign Affairs and Trade
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