The ASEAN-Australia Special Summit was held in Melbourne last week to celebrate 50 years of Australia's engagement with the Association of Southeast Asian Nations (ASEAN).
After 50 years of dialogue, agriculture is more important to the relationship than ever. The special summit further built on our relationships, cooperation and trade opportunities—something vital as Australian agricultural trade with ASEAN grows.
We know that Southeast Asia will be an economic powerhouse by 2040, projected to be the fourth largest economy in the world collectively after the US, China and India. ASEAN—with a consumer market 10 times larger than Australia.
Australia's agricultural exports to the ASEAN region have doubled over the past 5 years to reach $17.2 billion by 2023. Australia also receives a fifth of its agricultural imports from the region, highlighting the importance of the relationship and the growing opportunities for two-way trade. Investment between Australia and the ASEAN region.
Currently 23 per cent of Australia's agricultural exports go to Southeast Asia, and there is huge potential for further growth in that market. Leaders and Ministers from 10 countries in Southeast Asia attended a special summit with Australian and Southeast Asian CEOs. Together, they shared their vision for the development of our region.
Minister for Agriculture, Fisheries and Forestry Murray Watt said how highly Australia values our relationship with ASEAN, Australia is committed to increasing agricultural trade to Southeast Asia to benefit Australian producers and provide food security for our immediate neighbors and the region.
Minister Watt chaired the Future of Food and Agricultural Technology panel discussion with four small and medium enterprise CEOs (SMEs) and facilitated productive discussions at the Agriculture and Food Supply Chain CEO Roundtable.
The discussion ranged from demonstrating our agricultural sustainability credentials to the importance of First Nations involvement in agriculture and promoting indigenous Australian products to the ASEAN market. The focus was also on opportunities for cooperation to protect our food systems by managing together the biosecurity threats to our region.
The diversity of ASEAN markets has been promoted as favorable for our exporters as it provides options for different products, types of products, and when conditions in one market deteriorate, manufacturers and exporters can supply another. It is highlighted to meet the demand in the ASEAN market for a wide range of sizes and varieties of Australian citrus fruits.
For more information:
Department of Agriculture, Fisheries and Forestry
Tel: (+61 2) 6272 3232
Email: [email protected]