South East Asia

Indonesia is the largest economy in South-East Asia and with the impending IA-CEPA (Indonesia-Australia Comprehensive Economic Partnership Agreement) will provide Australian and Indonesian businesses an opportunity to expand and diversify the already successful and dynamic economic and bilateral relationship. Economically, Australia and Indonesia's comprehensive strategic partnership spans sectors such as business, education, defence, security, and infrastructure. By 2030, Indonesia is estimated to be one of the world's largest economies, and with the IA-CEPA in place, in conjunction with the already established ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) Agreement, Australia and Indonesia are well-placed to deepen trade and economic cooperation and share in each other's growth.

For further information on Indonesia, please contact Marcus Caulfield.

As one of ASEAN's five original members, Thailand has developed increasingly close ties with other members, as well as Australia, and is committed to promoting integration efforts within the ASEAN community. Thailand's diverse industrial sector, its position as a regional and global manufacturing hub, and its future investment and innovation plans, positions the country within a favourable business environment. Thailand has proven to be highly economically resilient and since the Thailand-Australia Free Trade Agreement (TAFTA) came into effect, Australia's trade and bilateral relationship with Thailand has continued to strengthen. TAFTA provides tariff advantages and allows many companies to find new investment opportunities in sectors including automotive, electronics, tourism, aerospace, and digital and medical healthcare.

For further information on Thailand, please contact Rachel Hooke.

With a rapidly modernising economy, Malaysia is considered a leading electronic and electrical products manufacturer. Coupled with the easing of foreign ownership laws in the manufacturing sector and significant investment in infrastructure, Malaysia's economic outlook seems assured. Founded on common interests and mutual respect, Malaysia and Australia are strategic trade and economic partners. This long-standing dynamic relationship encompasses bilateral ties and a shared desire for stable prosperity. Building on the ASEAN Australia New Zealand Free Trade Agreement (AANZFTA), the implementation of the Malaysia-Australia Free Trade Agreement has seen the two economies become even further integrated. Both countries share an extensive history of economic, foreign affairs and defence and security cooperation, which was recently celebrated with the 60th anniversary of Australia's diplomatic presence in Malaysia.

For further information, please contact Rachel Hooke.

A founding member of ASEAN, the Philippines is one of the world's fastest growing economies, in part due to increasing domestic consumption, infrastructure investment and improved exportation. Since the ASEAN-Australia-New Zealand Free Trade Agreement came into force, trade between Australia and the Philippines has significantly expanded. With a long history of bilateral relations, the Philippines and Australia cooperate closely in a broad range of areas, including defence and economic development. This cooperation is founded on shared common perspectives on many regional, economic, and security issues.

For further information on the Philippines, please contact Lee Miles.

As a highly connected commercial and trading hub, Singapore is a regional crossroad between China, India and the broader ASEAN region. Over recent decades, Singapore has undergone an economic transformation. Focusing on technology innovation and enterprise, and upskilling its current workforce in science, cyber security and data management, Singapore is providing continued opportunities to grow and strengthen its economy. Singapore and Australia's bilateral partnership is strong and dynamic, and it is through Singapore's key role as this central regional hub that companies can facilitate key business engagements. The recently revised Singapore-Australia Free Trade Agreement provides greater certainty for both partners in relation to the exports of goods, services and investments.

For further information on Singapore, please contact John Landells.

As one of South East Asia's fastest growing economies, Vietnam is an increasingly global and regionally integrated economy. Whilst recognising that further international and regional economic integration is necessary, Vietnam's membership to the World Trade Organization, ASEAN, and ASEAN–Australia–New Zealand Free Trade Area Agreement (AANZFTA) coincides with an economic reform agenda to increase exports and liberalise foreign direct investment. Mature and diverse bilateral relations between Vietnam and Australia have grown significantly recently, and the two countries are now considered strategic partners. Vietnam is among Australia’s fastest growing major trade partners, with both countries having agreed to develop a strategy to increase this bilateral trade.

For further information on Vietnam, please contact Brett Lunn.