0470 Business Envoy March 2024

Celebrating Australia’s partnership with ASEAN and sharing trade news and insights from the Department of Foreign Affairs and Trade's diplomatic network.

DEPARTMENT OF FOREIGN AFFAIRS AND TRADE • MARCH 2024

50 years of partnership with ASEAN

Australian export success to ASEAN nations

New business champions to promote commercial links

Celebrating women-led SMEs in emerging markets

Trade agreements delivering for Australian business

DFAT’s flagship trade and investment quarterly

Contents

Minister’s Foreword

Celebrating 50 years of partnership with ASEAN

Minister’s Foreword

The ASEAN-Australia Special Summit 50 Years of ASEAN-Australia Relations – The History Australian companies exporting to ASEAN countries – success stories

Business Champions for Southeast Asia Australia for ASEAN scholarship program

Moo-ving food into Asia

The first issue of Business Envoy for 2024 follows the highly successful ASEAN-Australia Special Summit, held 4-6 March in Melbourne, which celebrated 50 years of partnership with the Association of Southeast Asian Nations.

Fostering demand for gender- lens investing in Southeast Asia Australia’s trade agreements in Southeast Asia delivering for business

Indo-Pacific Economic Framework update

As we look to the next 50 years, Australia wants to continue enhancing our partnership with ASEAN, which has significantly contributed to the peace, security, stability, and prosperity of our region. I am optimistic about the economic opportunities and I look forward to embracing these together.

The Prime Minister made several key announcements at the Summit that will support implementation of Invested: Australia’s Southeast Asia Economic Strategy to 2040 , including: • a $2 billion Southeast Asia Investment Financing Facility to catalyse Australian private sector investment in one of the world’s fastest growing regions; • an additional $140 million through the Partnerships for Infrastructure program to support infrastructure development and attract diverse, quality infrastructure finance; • the appointment of ten senior, private sector Business Champions to help facilitate greater commercial links between Australia and Southeast Asia; and • new regional technology Landing Pads in Jakarta and Ho Chi Minh City bringing together startups, research institutions, and

I was delighted to speak with a range of eminent business leaders, small and medium enterprises (SMEs), and industry groups at the Summit. The CEO Forum brought together 100 Australian and ASEAN CEOs to examine ways to boost our two-way trade and investment, while the SME Conference and Marketplace provided an opportunity to showcase the wonderful small business offerings across Australia and Southeast Asia. I encourage all Australian businesses interested in Southeast Asia to speak with DFAT, Austrade and Export Finance Australia about the opportunities to make use of our government’s significant uplift in the region. In addition to the ASEAN Summit, our government is taking practical steps to help our exporters and investors expand and diversify into this exciting market, and to create more high-paying jobs at home.

In February, I travelled to Abu Dhabi to lead Australia’s delegation to the 13th World Trade Organization Ministerial Conference to prosecute Australia’s interests on the world stage. While in Abu Dhabi I also met with senior ministers and business representatives of the UAE – Australia’s largest trading partner in the Middle East – to progress negotiations for our trade agreement and promote stronger investment ties. The Government is also focused on stabilising our relationship with China, which has resulted in the return of nearly all of the $20 billion worth of trade impediments affecting our exporters.

This issue of Business Envoy covers further important developments in our engagements with international partners, in particular the burgeoning export opportunities for Australian suppliers of mining equipment, technology, and services to Africa. We have more to do, but we remain committed to continuing our engagement with business and the broader community as we pursue our trade agenda that delivers for all Australians. I trust you will enjoy this edition of Business Envoy .

ASEAN economies at a glance 16

The UTAS Global Opportunity Program “Life-changing” New Colombo Plan scholarship in Singapore launches global business career Indigenous business sector poised to export to Asian markets Australia-Nepal: a framework to grow the trade relationship NSW business showcased to journalists from Southeast Asia Austvolt: Scaling up battery technology in WA Pursuing Australia’s trade interests at the WTO Breakthroughs in Australian sportstech creating markets overseas Australian Mining in Africa on show in Cape Town Critical Minerals Prospectus launch Global Insights: Dispatches from the diplomatic network and state and territory offices

Senator The Hon Don Farrell Minister for Trade and Tourism

tech players to help Australian companies break into these dynamic markets.

On the cover: The flags of the ASEAN nations and Australia lined up at the Melbourne Convention Centre for the ASEAN-Australia Special Summit, 4-6 March 2024

Senator the Hon Don Farrell speaking at the ASEAN-Australia Special Summit in Melbourne

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0470

The ASEAN-Australia Special Summit

From 4 to 6 March 2024, Prime Minister Anthony Albanese hosted the ASEAN-Australia Special Summit, which was co-chaired by Laos, the 2024 ASEAN Chair and Australia’s ASEAN Country Coordinator. The Special Summit, attended by leaders of ASEAN Member States (except Myanmar) and the leader of Timor-Leste, commemorated 50 years of ASEAN-Australia Dialogue Relations and represented a significant milestone in our shared history. The Leaders’ Program was the centrepiece of the Special Summit, providing a platform for strategic discussions to showcase Australia as a trusted and constructive partner.

The Summit’s theme, “A Partnership for the Future”, laid the groundwork for the next 50 years of ASEAN-Australia relations. The Leaders’ Vision Statement and the Melbourne Declaration outlined Australia and ASEAN’s shared ambitions for the next 50 years of partnership - anchored in friendship and trust - which will see the ASEAN-Australia Comprehensive Strategic Partnership realised in new, deep and diversified engagement. The Special Summit further strengthened our partnerships and cooperation across four priority areas – business, climate and clean energy, maritime, and emerging leaders. The Business Track engaged 100 CEOs from across Australia and Southeast Asia to discuss boosting economic engagement and working together to implement Invested: Australia’s Southeast Asia Economic Strategy to 2040 . Prime Minister Albanese announced initiatives to demonstrate Australia is an engaged partner and active participant in the growth and success of the region. They included a $2 billion Southeast

Asia Investment Financing Facility, enhanced visa access, regional technology “Landing Pads” in Jakarta and Ho Chi Minh City, and 10 Business Champions to facilitate greater commercial links with regional economies (more on page 8). A new ASEAN-Australia Centre was also announced, marking a significant investment in Australia’s commitment to respond to ASEAN priorities in partnership with the region. The Centre will serve to strengthen business, education, cultural and community connections between Australia and Southeast Asia. The Prime Minister announced an additional $140 million for the Partnerships for Infrastructure program to support infrastructure development and accelerate the policy and regulatory reforms necessary to attract quality infrastructure finance. The first business mission under the Australia-Southeast Asia Business Exchange was confirmed, set to visit Singapore and Malaysia in April 2024. The mission will focus on green energy markets to help Australian business capture opportunities in fast-growing regional markets.

Officials and non-government experts came together in the Maritime Cooperation Track to focus on ways to build further practical maritime cooperation between ASEAN Member States, Timor-Leste and Australia, and recognise the benefits of having the South China Sea as a sea of peace, stability and prosperity. Foreign Minister Penny Wong announced $64 million over four years, including $40 million in new funding, to enhance Australia’s Southeast Asia Maritime Partnerships. This will support practical maritime activities including skills development, training and technology sharing, reaffirming our commitment to a peaceful, stable, and prosperous region. In an effort to tackle one of our region’s most pressing challenges, the Climate and Clean Energy Track brought together regional stakeholders to share experiences and collaborate on an accelerated clean energy transition. Foreign Minister Penny Wong and the Minister for Climate Change and Energy Chris Bowen announced additional initiatives to enhance

regional climate and clean energy cooperation. The Government will deliver a $6.9 million Energy Cooperation Package through the Aus4ASEAN Future Initiative, and a new $10 million Climate and Clean Energy Window under the Southeast Asia Government-to- Government Partnerships program. This will support Australian agencies to deepen relationships with regional counterparts, share knowledge and build climate and clean energy capabilities. A further $222.5 million in funding was announced for the Mekong- Australia Partnership to address water security, climate change and transnational crime and support leadership and economic resilience in this important subregion. As part of laying the groundwork for the next 50 years of successful ASEAN-Australia cooperation, the Emerging Leaders’ Track connected the next generation of Southeast Asian and Australian leaders across government, business and civil society to discuss their vision for our region’s future. The Prime Minister announced over 120 new Aus4ASEAN Scholarships and Fellowships commencing

in 2025, which will enable the next generation of leaders from Southeast Asia to come to Australia for study, professional exchanges, short-courses and study tours. Australia and ASEAN will continue to leverage the momentum generated by the Special Summit throughout 2024, ensuring practical implementation of programs and initiatives for our region. As Prime Minister Albanese said, “more than any other region, Southeast Asia is where Australia’s future lies.” More information on the Special Summit can be found at aseanaustralia.pmc.gov.au The Invested: Australia’s Southeast Asia Economic Strategy to 2040 can be found at: dfat.gov.au/ southeastasiaeconomicstrategy The Leaders’ Vision Statement can be found at: pm.gov.au/media/ asean-australia-leaders-vision- statement-partners-peace-and- prosperity The Melbourne Declaration can be found at: pm.gov.au/ media/melbourne-declaration- partnership-future

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Australian companies exporting to ASEAN countries – success stories

50 Years of ASEAN-Australia Relations – The History

Southeast Asia visited farms and met farmers and suppliers. Indorama, one of Indonesia’s top spinning mills, credits Australian sustainable farming practices, which align with the company’s aim of incorporating sustainability across its business. Farms with no fences: organic beef exports to Southeast Asia OBE Organics, based in the Kati Thanda - Lake Eyre basin in South Australia exports 100 per cent organic beef to the world, with a growing market in Indonesia, Singapore and Thailand. Started by family farmers in the 1990s, the company guards its reputation for animal welfare and sustainable farming and maintains organic certification in the most stringent markets for organic produce. OBE Organics’ future strategy is based on the United Nations Sustainable Development Goals. With a burgeoning middle class in Southeast Asia, consumers will be making informed choices about whether the food they buy is clean and safe; and all of OBE’s beef is Halal- certified, a vital factor in marketing to that region.

Green cement technology export to the Philippines Regain Services, based in Newcastle, New South Wales, spotted an opportunity in the 1990s: to turn a toxic element of the aluminium smelting process into a product for use by cement makers. With the cement industry generating five per cent of global greenhouse gas emissions, the recycling innovation has found a ready market internationally. Regain’s product, HiCAL, is exported to cement- makers in 19 countries, notably the Philippines. Sustainable Australian cotton making inroads in the Indonesian market The Australian Cotton Shippers Association (ACSA) has 14 cotton merchants buying from Australian growers and selling into export markets. Indonesia is now ACSA’s second largest cotton export market after Vietnam, partly thanks to grants from the Australian Government’s Agricultural Trade and Market Access Cooperation Program. Nurturing a burgeoning Indonesia market for cotton is vital and helped by high quality product. In 2023, ACSA and Cotton Australia held a “Cotton Camp” where six spinning companies from

In 2024 we celebrate 50 years of the dialogue relations between Australia and our ASEAN partners.

When Australia became ASEAN’s first Dialogue Partner in 1974, Prime Minister Gough Whitlam described ASEAN as “unquestionably the most important, [and] the most relevant” group in our region. In its early interactions, ASEAN and Australia’s cooperation focused on the strengthening of trade and economic links. At the first formal meeting between ASEAN and Australia in Bangkok, in 1974, Australia committed $5 million to support projects under the newly formed ASEAN-Australia Economic Cooperation Program. The program identified five areas of cooperation for initial development: protein production, food handling, trade cooperation, consumer protection and education assistance. ASEAN-Australia ties continued to strengthen following the Bangkok meeting as then Prime Minister Malcolm Fraser opened the first ASEAN Trade Fair in Sydney in 1978, featuring products from 150 firms from the five ASEAN Member States at the time. As ASEAN started to grow its membership, Australia participated as a founding member of major ASEAN-led architecture, including the ASEAN Regional Forum in 1994 and the East Asia Summit in 2005. Since then, ASEAN and Australia have been working together to address important regional challenges, including improving the operating environment for our businesses, by removing barriers to trade through the ASEAN-Australia-New Zealand Free Trade Area. ASEAN and Australia have continued to work together to implement the Regional Comprehensive Economic Partnership Agreement. These free trade areas expand commercial ties and offer roadmaps for further cooperation to adopt measures or negotiate rules to boost trade and investment ties. Engagement with the ASEAN-led economic architecture, such as through the East Asia Summit economic track, brings ministers together to discuss how to deepen rules-based trade and investment. Australia continues to work with ASEAN on a wide range of practical cooperation initiatives, including economic growth and integration, climate change, transnational crime and enhanced maritime security projects. Through the $204 million Australia for ASEAN Futures Initiative (Aus4ASEAN), Australia is a proud partner on ASEAN-led projects through ASEAN systems to address complex regional challenges and support implementation of the ASEAN Outlook on the Indo-Pacific.

Harnessing artificial intelligence (AI) to improve patient care in Malaysia Annalise.ai is a medtech company using AI to analyse chest X-rays accurately and help triage cases. Its first- level checking helps lessen fatigue among radiologists. While not replacing human eyes and analysis, it functions as an objective tool and a digital second set of eyes. The technology assists by picking up complex, subtle and small elements in scans. With regulatory clearance in 40 countries, Annalise.au has partnered with the Malaysian hospital sector to deploy its technology in the radiology departments of several hospitals.

Bringing Australian cyber security expertise to Singapore Privasec is an Australian cyber security consultancy whose business relies on absolute trust: they hack clients’ systems with permission, to test and uncover vulnerabilities. Australia’s reputation for strong governance has meant that Privasec’s association with Australian Government agency Austrade could be used to gain client trust. Privasec now has 50 employees across the Southeast Asian region and a local presence in Singapore and is establishing a reputation as a thought leader in cyber security.

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The Business Champions for Southeast Asia: Australia’s ten business leaders

Jennifer Westacott

Shayne Elliott

Shemara Wikramanayake

Louise Adams

Tony Lombardo

Charles Olsson

Peter Fox

John George

Sakib Awan

Nur Rahman

In September 2023, Prime Minister Anthony Albanese launched Invested: Australia’s Southeast Asia Economic Strategy to 2040 , a report to the Australian Government by the Special Envoy for Southeast Asia, Nicholas Moore AO. Invested is a practical roadmap to increase Australia’s two- way trade and investment with Southeast Asia. It includes a recommendation – now actioned – to appoint private sector business champions, one for each market covered in the report. The business champions will be responsible for promoting Southeast Asian trade and investment opportunities to Australian businesses and investors. This commitment recognises the importance of strong business-to-business engagement as a key tool to increasing trade and investment with Southeast Asia. Business champions will play a valuable advocacy and mentoring role, providing insights, advice and connections to help Australian businesses succeed in Southeast Asia. Business champions will leverage their experience and influence to represent the views of the business community to Australian and Southeast Asian governments on actions our governments can take to deepen economic engagement. More information on the Business

Indonesia: Professor Jennifer Westacott AO Jennifer Westacott is the Chancellor of Western Sydney University (WSU), the first woman to serve in the role. Professor Westacott also served as Chief Executive of the Business Council of Australia, the nation’s premier business organisation, from 2011 to 2023. She is well versed in the Australia-Southeast Asia trade relationship and the importance of fostering trade and investment collaboration with the region.

The Philippines: Ms Shemara Wikramanayake

Malaysia: Mr Tony Lombardo Tony Lombardo has been the Global Chief Executive Director and Managing Director of Lendlease Global since 2021, a company providing asset management, infrastructure development, investment management and legal services. In his previous role as a Chief Executive Officer Asia, based in Singapore, he spearheaded several major initiatives to drive future growth as part of resetting Lendlease Asia’s growth strategy. These initiatives include the completion of Singapore’s S$3.7 billion Paya Lebar Quarter mixed-use development and the successful listing of S$1 billion global LREIT on the Singapore Exchange.

Thailand: Mr Peter Fox

Timor-Leste: Mr Sakib Awan Sakib Awan is the Founder and Chairman of the East Timor Trading Group (ETT), one of Timor-Leste’s largest independent retailers, franchise operators and distributors. In 2012, ETT brought Gloria Jean’s Coffees and Burger King franchises to Timor-Leste. EET has also established a chain of Cheers Bottle Shops, Makanan and Il Gelato outlets. He was awarded the Order of Timor-Leste by the President that same year. Brunei: Dr Nur Rahman Nur Rahman has been the Chief Executive Officer of Brunei’s state-owned halal food business, Ghanim International Corporation, since 2015. He has broad experience working in fast-moving consumer goods (FMCG), retail and manufacturing, and previously held senior executive positions for Australian organisations such as Woolworths, Goodman Fielder and Cargill Foods. Ghanim is ambitiously setting its sights on the global stage to gain solid footing in for Brunei Halal Foods products by covering important markets in Asia, the Middle East and Europe. Through Ghanim, Dr Rahman aspires to raise Brunei’s name in the global food industry. He is now undertaking agrifood consulting work out of Sydney and maintains excellent networks in Brunei.

Peter Fox is the Executive Chairman of Linfox Pty Ltd, Linfox Australia Pty Ltd, Linfox International Group Pty Ltd and Linfox Armaguard Pty Ltd. Linfox leads the way as Asia Pacific’s largest privately-owned logistics company, involving more than 24,000 people across Australia, New Zealand and Southeast Asia. Linfox provides logistic services to a variety of the world’s largest and most successful organisations by delivering food, resources and medicine across road and rail from an extensive network of warehouses and distribution centres. Linfox also operates in Southeast Asia with an international head office in Thailand supporting partners from 12 sites since 1993. Cambodia: Mr John George OAM John George is the Executive Chairman and founder of MGA Insurance Brokers, regarded as one of the country’s leading insurance brokerages. In 2012, he was awarded a Special Medal by Cambodian Prime Minister Hun Sen for his work as Chairman of the Australian Cambodia Foundation and his charity work. He received a Medal of the Order of Australia (OAM) in 2013 for his service to the welfare of children in Cambodia.

Shemara Wikramanayake has been the Managing Director and Chief Executive Officer of the Macquarie Group since 2018, being the organisation’s first female to serve in such a role. Joining Macquarie in 1987, she has worked in six countries and across several business lines, establishing and leading Macquarie’s corporate advisory offices in New Zealand, Hong Kong and Malaysia, and the infrastructure funds management business in the US and Canada.

Singapore: Mr Shayne Elliott

Vietnam: Ms Louise Adams

Shayne Elliott has been the Chief Executive Officer and Executive Director at ANZ since 2016. Mr Elliott has more than 30 years experience in banking including in Australia and overseas, in a variety of aspects of the industry. Prior to joining ANZ, Mr Elliott held senior executive roles at EFG Hermes, the largest investment bank in the Middle East, which included Chief Operating Officer. He started his career with Citibank New Zealand and worked with Citibank and Citigroup for 20 years, holding various senior positions across the UK, USA, Egypt, Australia and Hong Kong.

Louise Adams became the first female Executive Director on Aurecon’s Global Board in 2013. Aurecon is a design, engineering and advisory company working with clients across different sectors and markets. She is Aurecon’s global spokesperson for Women in Leadership and a member of the National Advisory Board of Infrastructure Partnerships Australia. Ms Adams has also been an Australia-Vietnam Enhanced Economic Engagement Strategy Business Champion. In previous roles, she led major civil and multidisciplinary projects in more than a dozen countries.

Laos: Mr Charles Olsson

Charles Olsson is the Managing Director of Four Seasons Pty Ltd, a national livestock supplement company supplying 400 rural retailers throughout Australia and exporting to New Zealand and Southeast Asia. He is also the Executive Chairman and co-founder of AgCoTech, a company producing medicated block technology that increases cattle productivity and improves welfare, while reducing methane emissions. AgCoTech’s operational plant in Laos produces these livestock supplements for local villagers providing capital investment and employment opportunities. Mr Olsson has extensive experience in Australian agribusiness and held multiple influential roles in the sector, including directorships at Australian Wool Innovation and Woolmark.

Champions can be found at aseanaustralia.pmc.gov.au

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Australia for ASEAN scholarship program: leading and influencing in business and the ASEAN economy

The Australia for ASEAN scholarships are prestigious international awards offered by the Australian Government to the next generation of leaders from ASEAN member states. There are currently 100 students from ASEAN studying at universities across Australia. The initiative was announced in 2021 to mark the establishment of the ASEAN-Australia Comprehensive Partnership. The scholarships enable students to study in fields that advance the ASEAN Outlook on the Indo- Pacific, ASEAN’s own vision for a peaceful, stable and prosperous region. The scholars are studying courses related to the ASEAN Outlook on the Indo- Pacific’s four priority areas of cooperation, economic, connectivity, maritime, and the Sustainable Development Goals. The Australia for ASEAN scholars also have access to a ten-month ASEAN Scholars Leadership Program – a leadership enrichment program that complements their formal studies, and helps build their skills, networks and readiness to take on leadership roles in their workplaces, communities and countries. The Leadership Program also connects emerging leaders throughout Australia and Southeast Asia, strengthening people-to-people connections. The Leadership Program was launched in August 2023 and participants have since had access to online learning and networking events, intensive leadership retreats, individual coaching, and internships. Scholars have been able to choose their own level of engagement with the leadership program, with some activities open to all scholars, and some involving a competitive application process. To learn more, or apply for the 2025 Scholarships, see dfat.gov/people- people/australia-awards/australia-asean-scholarships Here are some of our impressive Australia for ASEAN scholars:

Malaysia Shakgantan M Balakrishnan (Shak) is a Malaysian scholar studying at the University of Melbourne. He chose to study a Master of International Business with a goal of redesigning business processes and enriching the international outlook of corporations operating in Malaysia. Shak has gained invaluable insights into how to deal with project-specific constraints and analyse business challenges on a global scale. His studies have also provided him with a better understanding of what needs to be implemented in the Malaysian business environment. He has engaged with fellow Australia for ASEAN Scholars to reinforce ASEAN collaboration and seek joint approaches to addressing challenges facing the ASEAN region.

Indonesia Dinda Maharani is an Australia for ASEAN scholar from Indonesia, who previously worked as a research assistant at the Institute for Development of Economic and Finance in Jakarta. She is studying a Master of Economics at the Australian National University. Dinda chose to study economics to gain a better understanding of economic theories and economic policy making, especially regarding the green economy and renewable energy transition. Through the Leaderships Program, Dinda has undertaken an internship with ClimateWorks, an independent not- for-profit within Monash University that bridges the gap between research and climate action in Australia, Southeast Asia and the Pacific. Dinda believes collaboration between countries, especially between Australia and ASEAN Member States, is important for a better future.

Laos Through the Australia for ASEAN Scholarship program, Lounglavanh Vongxay (Loung) from Laos PDR is studying a master’s in international Trade and Development at the University of Adelaide. Her goal is to develop in-depth skills in negotiation, analysis, and policy assessment with the objective of refining and enhancing economic policies in Laos to foster a vibrant business ecosystem. Studying in Australia and participating in the program has deepened Loung’s academic insights and provided a platform to collaborate with distinguished professors and peers. She believes this synergy of knowledge is invaluable for her mission to contribute meaningfully to Laos’ economic growth.

Brunei Bruneian Australia for ASEAN scholar, Afiefah Rosle is pursuing a Master of International Business at RMIT University. Her studies have deepened her understanding of the transformative potential of Artificial Intelligence and the digital economy. Afiefah is eager to make a meaningful contribution to Brunei’s socioeconomic advancement and venture into consulting, with a focus on equipping Brunei’s small and medium enterprises with these emerging digital tools. The Leadership Program has allowed Afiefah to establish robust ties with fellow scholars and industry stalwarts, expanding her professional network and paving the way for prospective collaborations throughout the region.

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Moo-ving food into Asia

Fostering demand for gender-lens investing in Southeast Asia

Some of Australian agriculture’s biggest research and development corporations and industry organisations have joined forces to help secure enhanced business opportunities and profile for Australian food and beverages exporters across Asia.

Supported by Agriculture Trade and Market Access Cooperation (ATMAC) and working collectively under the Nation Brand’s “Taste the Wonders of Australia” branding developed by Austrade, the Australian Food and Wine Collaboration Group has so far met with more than 480 customers, trade contacts and government officials across Thailand, South Korea and Vietnam. These connections are building on existing trade programs run by individual commodity organisations and helping to deepen their relationships in a way that has not been possible before. The collaboration group is strengthening connections with the Department of Agriculture, Fisheries and Forestry (DAFF) Agricultural Counsellors overseas and key contacts involved with market access because many rural research and development corporations (RDCs) do not have in-market resources to tap into. Roundtable discussions with DAFF, DFAT and Austrade have led to a sharing of perspectives, insights

The Australian Food and Wine Collaborative Group – Dairy Australia, Meat & Livestock Australia, Wine Australia, Hort Innovation and Seafood Industry Australia – is harnessing the collective strength of Australia’s finest fresh food and wine in a Team Australia approach to building export markets for Australian producers. In its first two-year program, the group targeted four key Asian markets – Thailand, South Korea, Vietnam, and Indonesia - with a rolling program of activities to increase and diversify export market opportunities for Australian producers. Indonesia – close by and with a burgeoning consumer population – is the group’s next focus market.

and issues. These have been invaluable to deepen the collective understanding and create a broader perspective for the group. Charles McElhone, Dairy Australia General Manager, said that, while the five organisations involved in the Australia Food and Wine Collaboration Group represent individual industries that are significant exporters in their own right, the initiative provides an added opportunity to work collectively as one and develop export opportunities. To learn more about the Australian Food and Wine Collaboration Group, see horticulture.com.au/growers/ help-your-business-grow/research- reports-publications-fact-sheets- and-more/ha20005/ The collaborative group’s most recent initiative was ‘Taste the Wonders of Australia’ in Vietnam. A gala dinner attracted more than 200 of Vietnam’s food industry leaders, importers, distributors and government representatives, dining on Australia’s finest fresh food and premium wines. Laura Davies, Trade Export Manager Seafood Industry Australia, said it was a strategic, collective approach to showcase to Asian consumers what Australia has to offer in terms of premium produce. “We want them to buy the whole plate from Australia.”

image couretsey of istockphoto.com

Women-led small and medium enterprises (SMEs) are between 31 and 38 per cent of all SMEs in emerging markets. They are a major engine for employment and potential growth. However, many women-led businesses struggle to access the finance they need to grow their businesses. Consistent with Australia’s commitment to advancing gender equality, including in Invested: Australia’s Southeast Asia Economic Strategy to 2040 , DFAT has been working to increase the flow of capital to women-owned and women-led businesses through the Investing in Women initiative. Since 2016, Investing in Women has played a catalytic role in promoting and expanding gender lens investing (GLI) in Indonesia, the Philippines and Vietnam. GLI is a strategy where investors incorporate gender analysis throughout the investment process to make decisions that lead to better gender equality and economic outcomes. Building on success to-date, Investing in Women’s efforts to broaden demand by capital providers for GLI products and funds will be enhanced by two recently signed partnerships with industry players Global Private Capital Association (GPCA) and Propelevate. The independent membership organisation GPCA, with headquarters in New York and Singapore, represents private capital investors collectively managing over USD 2 trillion in assets globally. Through its work with Investing in Women, GPCA aims to move investors toward GLI adoption in Southeast Asia by providing strong examples of successful women-led

investments, driving conversations on integrating gender into investment decisions, and educating investors on how to diversify their portfolios by adopting a gender lens. Propelevate, a women-owned consulting firm based in San Francisco, aims to move mainstream and impact investors towards adoption of GLI. Drawing on its experience developing a Gender Equality Scorecard to assess evidence of businesses’ actions to support gender equity, Propelevate will deliver a GLI Learning Strategy to target capital providers’ motivations and investment strategies. To further complement the work of these partners, Investing in Women will explore opportunities to support ecosystem actors who are mainstreaming GLI and shifting capital to women entrepreneurs in Southeast Asia, with funding through DFAT to mid-2027. For more information on GLI, see: investinginwomen. asia/gender-lens-investing

All four key Asian markets increased their imports of

Australian agriculture products last year by more than $1 billion each and are expected to continue to grow.

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Australia’s trade agreements in Southeast Asia delivering for business

Indo-Pacific Economic Framework

IPEF

Australia has a multi- layered trade relationship with our ASEAN neighbours. The ASEAN- Australia-New Zealand FTA (AANZFTA) is ASEAN’s highest quality FTA, and the AANZFTA Upgrade, signed on 21 August 2023, will ensure it remains that way.

In addition, the Regional Comprehensive Economic

Economic cooperation is integral to Australia’s partnership with ASEAN on regional and bilateral trade. Australia supports economic cooperation across the region through the Regional Trade for Development (RT4D) program and the Mekong Foreign Investment and Critical Infrastructure Initiative (MFICII). RT4D provides ASEAN Member States with technical assistance and capacity building support to fulfil their obligations under the upgraded AANZFTA and RCEP, while MFICII aims to support Mekong countries (Thailand, Cambodia, Lao PDR, Vietnam) to attract high-quality foreign investment from diverse sources, including in critical infrastructure projects.

The Indo-Pacific Economic Framework for Prosperity (IPEF) brings together fourteen of the largest and most dynamic regional economies to tackle contemporary economic challenges to strengthen regional supply chains, unlock green trade and investment to support the net zero transition, and enhance anti-corruption efforts in the region. With unprecedented coverage and pace, IPEF members have announced a series of substantial outcomes in less than 18 months of negotiations.

Partnership Agreement (RCEP) is the world’s largest free trade agreement by members’ collective GDP. It’s an important piece of regional economic integration, bringing together ASEAN and major regional economies (China, Japan, New Zealand and the Republic of Korea). Australia also has bilateral free trade agreements with Singapore, Malaysia, Indonesia and Thailand which support and deepen our trade and investment relationships. Australia is committed to working with our ASEAN trading partners to ensure these bilateral FTAs are fully implemented and beneficial to our businesses. To learn more, visit the DFAT website here: dfat.gov.au/ trade/agreements/in-force

Building on the significant momentum achieved in San Francisco last year, IPEF Ministers released the final

The Australian Government will initiate the domestic treaty making processes necessary to sign these agreements, which remain subject to consideration by the Federal Executive Council and the Australian Parliament’s Joint Standing Committee on Treaties. At the virtual Ministerial Meeting, Trade Minister Farrell announced that Australia will contribute to the IPEF Catalytic Capital Fund to drive private-sector investment into climate infrastructure projects in ODA-eligible IPEF countries and build a pipeline of bankable sustainable infrastructure projects.

IPEF Ministers also announced the annual IPEF Clean Economy Investor Forum which will bring together the region’s largest investors, innovative start- up entrepreneurs and project proponents for matchmaking and investment facilitation. The inaugural Forum, hosted by Singapore on 6 June 2024, focuses on sustainable infrastructure and climate technology.

texts of the IPEF Clean Economy Agreement, IPEF Fair Economy Agreement and the IPEF Overarching Agreement at a virtual IPEF Ministerial Meeting on 14 March 2023. Negotiated texts are published at dfat.gov.au/trade/ organisations/wto-g20-oecd- apec/indo-pacific-economic- framework.

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ASEAN economies at a glance

BRUNEI DARUSSALAM

Population* 0.4 m

GDP* US$16.7 b

Two-way trade +

AU$4.38 b

CAMBODIA

Population* 16.0 m

GDP* US$28.8 b

Two-way trade +

AU$1.28 b

INDONESIA

Population* 274.9 m

GDP* US$1,319 b

Two-way trade +

AU$26.3 b

LAOS

Population* 7.5 m

GDP* US$15.3 b

Two-way trade +

AU$0.6 b

MALAYSIA

Population* 32.7 m

GDP* US$407.0 b

Two-way trade +

AU$35.3 b

MYANMAR

Population* 53.9 m

GDP* US$66.2 b Two-way trade + AU$0.43 b

THE PHILIPPINES

Population* 111.6 m

GDP* US$404.3 b

Two-way trade +

AU$9.68 b

SINGAPORE

Population* 5.6 m

GDP* US$466.8 b

Two-way trade +

AU$50.9 b

THAILAND

Population* 70.1 m

GDP* US$495.4 b

Two-way trade +

AU$30.8 b

TIMOR LESTE (OBSERVER)

VIETNAM

Population* 99.5 m

Population* 1.3 m

GDP* US4.9 b Two-way trade + AU0.426 b

GDP* US$406.5 b

Two-way trade +

AU$25,68 b

*2022, + 2022-23

source: dfat.gov.au

Department of Foreign Affairs and Trade

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Synthesising the academic and the practical on study tours to Southeast Asia : The UTAS Global Opportunity Program

The University of Tasmania has a new, expansive University Global

An 18-day study tour, to universities in either Indonesia, Malaysia or Vietnam, allows the students to explore place, culture, technology and sustainability. The program – much of it hands-on – was funded by the Australian Government’s New Colombo Plan, and attracted a cohort of students traditionally underrepresented in study tours. Professor Kate Darian-Smith, of the UTAS College of Arts, Law and Education, visited a UniGO tour under way in Vietnam and Malaysia. “I saw transformational experiences for our students,” said Darian-Smith. “They were working with colleagues from the region on shared problems, gaining new cultural knowledge and insights.

“We will be developing these partner connections and building on UniGO to engage more deeply with our regional neighbours.” UniGO students are exposed to the ways government, leaders, businesses and civil society are solving difficult problems. They have the opportunity to synthesise learning from different disciplines; develop their critical thinking skills; and extend their disciplinary knowledge. They can also identify future opportunities to extend their connections and relationships in the Indo-Pacific.

The New Colombo Plan (NCP) supports scholarships of up to 19 months and flexible mobility grants to support Australian undergraduates to undertake study, language training and internships in the Indo-Pacific. Since 2014, the Australian Government’s New Colombo Plan has awarded 1,234 scholarships and 78,071 mobility grants across 40 partner countries in the Indo-Pacific. The New Colombo Plan experience ensures graduates are enriched by the diverse cultures, languages, business and education opportunities of Australia’s regional partners. International education is for everyone. The New Colombo Plan students represent the talent and diversity of the Australian population with the program actively ensuring all Australians have the opportunity to undertake scholarships and mobility projects.

Opportunity Program (UniGO), immersing some 180 student participants in learning experiences that increase their understanding of ASEAN countries. The program is open to all the ASEAN countries.

Malaysia At Universiti Sains Malaysia (USM) the UniGO/NCP program strongly featured environment and sustainability. The River Engineering and Urban Drainage centre featured hands-on activities including wetlands and mangrove replanting. Students participated in eco-workshops, tours and learning activities on Langkawi Island delivered by MareCet, a not-for- profit dedicated to the research and conservation of marine mammals. Universiti Kebangsaan Malaysia’s Institute for Environment & Development LESTARI (UKM) gave lectures on sustainability in areas of urban governance, social and cultural practices. They facilitated field visits to paddy farming and wetlands. The visit culminated in a hackathon where UniGO/NCP students presented solutions to Malaysia’s sustainability challenges. DFAT Tasmania State Office has been supporting UTAS in its initiatives to enhance student engagement across the Indo- Pacific and advance the New Colombo Plan objectives in Tasmania. DFAT posts Hanoi, Ho Chi Minh, Kuala Lumpur and Jakarta contributed support in-country.

Students participate in a range of formal and non-formal learning activities enabling them to evaluate human impacts on natural and built environments, and how physical, economic, social and technological factors affect global sustainability efforts. Professor Nicholas Farrelly, Pro Vice-Chancellor at UTAS, is an Australia-ASEAN Council board member. “This opportunity for 180 Australian students to engage with counterparts and in 11 institutions across ASEAN is in a great tradition of vibrant people-to-people and academic links. It will be exciting to see how the students build on these experiences and maintain their connections with Vietnam, Malaysia and Indonesia,” said Farrelly. “ASEAN-Australia relations are naturally getting extra attention this year through the celebration of 50 years of dialogue partnership. All of our countries will benefit from future leaders who are equipped

to work cross-culturally and who understand the crucial long-term links between Australia and our

friends in Southeast Asia.” With the education sector

important to not just Tasmania’s but Australia’s trade, UniGO’s role in strengthening partnerships with 10 universities in ASEAN countries will have ongoing trade and export benefits. Vietnam The Thai Nguyen University of Agriculture and Forestry hosted UniGO/NCP students with seminars exploring topics such as Vietnam’s food sector, Indigenous knowledge, farming systems, urban and rural planning, forest management and climate change. Hands-on learning activities such as bread- and soap-making, and a visit to an aquaculture business, enhanced students’ understanding of Vietnamese food systems – gaining knowledge with the potential to inform Australian food exporters.

Images these pages: UniGO/NCP students learning culture and sustainability on their study tour in Southeast Asia

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Indigenous business sector poised to export to Asian markets Sharna Petherick Northern Territory Indigenous Business Network

“Life-changing” New Colombo Plan scholarship in Singapore launches global business career

Brisbane-born Dana Carmichael says her New Colombo Plan (NCP) scholarship has been “life changing” and was a launchpad to her international business career with PepsiCo. In 2017, Dana was one of the youngest recipients of the New Colombo Plan Scholarship, an opportunity to learn, study and work in Singapore, and an opportunity she believes is still powering her career success. In Singapore she completed an internship, as well as a two-week intensive Chinese language course and two semesters of elective study at Nanyang Technological University in areas such as strategic management and market behaviour. “It was a life-changing experience for me, and it continues to fuel my enthusiasm in my work and for exploration in everything I do. “Singapore is like a melting pot of Asian cultures – Chinese, Malay, Indian, along with a global expat community - all co-existing. It makes it an incredibly rich, vibrant community. “It feels like you are standing on the borders of many different countries and taking it all in. Sometimes that was challenging, but it was in that space that your learning accelerated.” With a Bachelor of Business – International with Economics major from the Queensland University of Technology, Dana developed a keen interest in strategic management and leadership in business and

The Northern Territory is close to rapidly growing Asian economies and holds tremendous potential for the Indigenous business sector. By 2026, an estimated 73,000 Indigenous Australians will reach working age and around 2,000 people are expected to start their own businesses (based on current self-employment rates). The Northern Territory Indigenous Business Network (NTIBN) is at the forefront of supporting and empowering Indigenous businesses in the region. As the premier certifying authority and peak body, NTIBN has proactively developed and implemented the NT Aboriginal Export Strategy 2022-2025, which aims to assist and facilitate NT Indigenous businesses in capitalising on international trade opportunities. The growth in Asian economies north of the Territory is expected to generate a strong demand for products that our region can competitively produce. The insights, perspectives, and land ownership of Aboriginal

The Northern Territory has a thriving and expanding community of Indigenous businesses actively involved in international export and trade. Aboriginal people have been actively engaged in international trade and commerce for thousands of years. In today’s world, there is a growing demand for experiences that are not only authentic but also credited, respectful, and cemented in the true essence of Indigenous cultures. Jerome Cubillo, NTIBN CEO

in the significance of cultural intelligence in business success. “Singapore has a very serious learning culture, so all of my study was undertaken with other students who were engaged and enthusiastic learners and despite some differences in learning style, the quality of what we were taught

“That deep, intense, professional immersion in another country tests your mettle in so many ways that you emerge more confident, more resilient, and adaptable and more willing to embrace uncertainty, knowing you can and will thrive.” At just 26 years old, she has recently been appointed PepsiCo Head of Strategy for Australia and New Zealand, a role she believes gives her opportunities to influence decisions that benefit the business and the consumer. “The job is enjoyable because the environment encourages learning and development and rewards high performance.” With a successful New Colombo Plan scholarship and language training that gave her essential job-ready skills, she said: “in an increasingly globalised business world, having that capacity is invaluable.” For more information on New Colombo Plan opportunities, see: dfat.gov.au/people-to-people/new- colombo-plan Above: New Colombo Plan Scholar (2017) and PepsiCo Head of Strategy for Australia and New Zealand Dana Carmichael

was fantastic,” Dana says. “We had a Harvard business

Territorians play a pivotal role in establishing essential partnerships that will be vital to securing the Territory’s economic future. NTIBN emphasises building and nurturing strong relationships with its neighbouring nations. In October 2024, NTIBN is poised to embark on a US trade delegation in collaboration with the Native American Business Association. This endeavour aims to foster cross-cultural collaboration by connecting NT Indigenous businesses with their American counterparts, thereby paving the way for lucrative business opportunities. The work of NTIBN is further bolstered by their successful bid to host the World Indigenous Business Forum in 2025, which will take place on Larrakia Country

in Darwin. It is set to attract over 1,000 delegates from more than 20 countries. Invitations to other prominent events, such as the 2025 World Expo in Osaka, offer Indigenous businesses, industries, and governments the opportunity to network, collaborate, and expand their interests and connections in one of Asia’s most influential business hubs. For further information, visit the NTIBN website at ntibn.com.au

case trained professor delivering world class insights into strategic management which really opened my eyes to the power of strategy in business.” While the NCP has a clear mandate to offer transformational experiences for its scholars, Dana says the transformation is not limited to increasing young Australians’ knowledge of the Indo- Pacific region. “You have your eyes opened to new cultures and new ideas about almost everything, you make valuable connections and friendships, you get to see what is different and what is the same across the region, and you start to understand some of its complexity,” she says. “But the transformation is broader than that.”

Above: Promoting the work of the Northern Territory Indigenous Business Network

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