Minister for Trade and Investment Andrew Robb today launched a publication promoting the trade and investment opportunities for Australian business in the ten countries comprising the Association of South-East Asian Nations (ASEAN).
“The ASEAN region has never offered more opportunities for Australian business than it does today,” Mr Robb said. “This is particularly the case in areas where the middle class is growing and consumer demand outstrips local supply, such as in the food and beverage, agriculture, healthcare, education and financial services sectors.”
Why ASEAN and Why Now? Insights for Australian Business draws on the experience of Australian companies and Australia’s network of diplomatic and trade missions operating in the ASEAN region. The publication delivers practical insights on doing business in ASEAN and how to use regional free trade agreements. It outlines new opportunities for Australian businesses underpinned by the forthcoming declaration of the ASEAN Economic Community, and the growth of the services sector and regional value chains across ASEAN.
“As a whole, ASEAN is Australia’s second largest trading partner, with two-way trade surpassing $100 billion in 2014,” Mr Robb said.
Australian exports to ASEAN countries grew almost 18 per cent between 2013 and 2014. During the same period, ASEAN investment in Australia grew 15 per cent, to over $110 billion.
“I urge all Australian exporters, tourism operators and investors to read this report and make the most of the opportunities that ASEAN has to offer,” Mr Robb said.
The publication was jointly prepared by Austrade and the Department of Foreign Affairs and Trade and is available at www.austrade.gov.au/ASEANreport