Business welcomes plan for stronger economic links with Southeast Asia

05 September 2023

The Business Council welcomes the government’s Southeast Asia Economic Strategy to 2040, developed under the leadership of Mr Nicholas Moore AO, Business Council chief executive Jennifer Westacott said.

“Southeast Asia is a critical region for Australian business. The region’s population is expected to grow to 766 million by 2040, with a rapidly expanding middle class.

“This strategy outlines how Australia can realise the vast opportunities our diverse and vibrant region presents. It also describes what Australia can offer our region, as a trusted and reliable partner.

“By identifying key priority sectors across agriculture, education, skills, infrastructure, resources and green energy, we can double down on our efforts to tap into these expanding economies – which offer huge growth and investment opportunities for Australia.

“This is a significant step in enhancing Australia's role as a dynamic partner in the Southeast Asian region and aligns firmly with the BCA’s vision, as outlined in our comprehensive plan: Seize the Moment.

“As our Seize the Moment report also highlighted, we must urgently address our ability to be globally competitive, which will enable us to quickly spring into action as these new markets emerge.

“Together, we are committed to positioning Australia as a cutting-edge frontier economy, well-integrated into global supply chains, and fostering mutual growth and collaboration with Southeast Asia in both bilateral trade and investment.

The incoming Chief Executive of the BCA, Mr Bran Black, is currently in Jakarta to participate in the ASEAN-Indo-Pacific Forum and other ASEAN related meetings, where the Strategy will be launched tomorrow.

At these meetings, the BCA will amplify the voice of Australian business and demonstrate our support for Australia’s efforts increase bilateral economic ties with the region.

“I am delighted to be in Jakarta for my first international visit as incoming BCA Chief Executive,” Mr Black said.

“Engaging with key partners from Indonesia and across ASEAN and gaining an ‘on the ground’ appreciation of this unique region is of critical importance.

“This region offers great potential if we can harness the opportunities and I look forward to working with BCA members and with governments across Australia on how best to achieve this uplift for our nation’s future prosperity.”


Latest news

Media releases

Media releases

Media releases