Southeast Asia’s largest business summit to kick off in SA today

Hundreds of senior government officials and business leaders are in Adelaide today as Southeast Asia’s largest business summit commences.

Around 750 domestic and international diplomatic officials, major investors and commercial leaders are in town for the Australia-ASEAN Business Forum, which has returned to South Australia for the first time in more than a decade.

Supported by the Malinauskas Government, the two-day event will focus on trade, and investment in renewable energy, the green economy, digital transformation and AI.

The forum will also provide a chance to explore opportunities created by the Regional Comprehensive Economic Partnership (RCEP) – the world’s largest free trade agreement, signed by Australia and 14 other countries and in effect since 2022.

Premier Peter Malinauskas and Trade and Investment Minister Joe Szakacs are among those speaking at the event, along with:

• Hon. Dr. Kao Kim Hourn, Secretary-General of ASEAN
• HE Tiffany McDonald, Australia’s Ambassador to ASEAN
• Tan Sri Nazir Razak, Chairman, ASEAN Business Advisory Council-Malaysia
• Andrew McKellar, CEO, Australian Chamber of Commerce and Industry
• Dianne Tipping, Chair, Export Council of Australia
• Kevin Gallagher, Managing Director, Santos

Southeast Asia is one of the state’s priority markets, with the Malinauskas Government’s recently launched trade and investment identifying its increased importance over the next five years and beyond.

Within that region, ASEAN represents 10 countries – Malaysia, Singapore, Thailand, Indonesia, Vietnam, Philippines, Brunei, Cambodia, Laos and Myanmar – which have a collective population of more than 600 million.

With a rapidly expanding middle-class and surging industrialisation, ASEAN is a growing economic powerhouse.

The bloc is projected to be the world’s fourth largest economy by 2040.

All 10 ASEAN countries are signatories to the RCEP, with China, Japan, South Korea, Australia and New Zealand also party to the partnership.

The 15 member countries of the RCEP account for around 30 per cent of both global GDP and population.

For more information, visit auaseanbusinessforum.com

Quotes

Attributable to Joe Szakacs

Southeast Asia is already a global trading powerhouse and is continuing to grow.

The opportunity that this represents for South Australia is very real, and our Government is working hard with our state’s industries to ensure we capitalise on it.

Seeing events like this return to the state for the first time in more than a decade is testament to this.

We will be looking to build upon our already strong relationships in the region this week.

Attributable to Francis Wong OAM, Chairman, Australia-ASEAN Business Forum

In a significant milestone for South Australia, over 70 per cent of attendees will be visiting Adelaide for the first time, providing a unique opportunity to showcase the state’s dynamic growth, innovation, and investment potential.

This is an unparalleled opportunity to showcase the new, vibrant South Australia to influential business leaders and investors from across our region.

We are confident the forum will unlock long-term partnerships and new opportunities that will benefit both Australia and ASEAN, especially South Australia.

The Australia-ASEAN Business Forum is set to be a landmark event that reinforces Adelaide’s reputation as a forward-looking, globally connected city and positions South Australia as a hub for international collaboration.