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ASEAN Now - insights for Australian business

ASEAN NOW. insights . FOR Australian . business . A report on Australia's trade and investment relationship with ASEAN . Indonesia Singapore Brunei Darussalam Lao PDR Myanmar Thailand Cambodia Malaysia Philippines Vietnam Acknowledgements Austrade, the Department of Foreign Affairs and Trade and the Department of the Prime Minister and Cabinet would like to thank the following organisations: AlphaBeta, Asialink business and PwC for peer reviewing the publication. ANZ, Blackmores, CEC Systems, Cochlear, Consolidated Pastoral Company (CPC), Ego Pharmaceuticals, 4 Ways Fresh, GroupGSA, Icon Global, IE Asia Pacific, Intersective, Ironbark Citrus, Lendlease, Linfox, Qantas, RJE Global, Site Group International, Swinburne University, Telstra, UNSW Sydney, Vix Technology, William Angliss Institute, To

04 ASEAN NOW Insights for Australian business INTRODUCTION ASEAN is vital to our regional prosperity and security. Since the report ‘Why ASEAN and

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Transcription of ASEAN Now - insights for Australian business

1 ASEAN NOW. insights . FOR Australian . business . A report on Australia's trade and investment relationship with ASEAN . Indonesia Singapore Brunei Darussalam Lao PDR Myanmar Thailand Cambodia Malaysia Philippines Vietnam Acknowledgements Austrade, the Department of Foreign Affairs and Trade and the Department of the Prime Minister and Cabinet would like to thank the following organisations: AlphaBeta, Asialink business and PwC for peer reviewing the publication. ANZ, Blackmores, CEC Systems, Cochlear, Consolidated Pastoral Company (CPC), Ego Pharmaceuticals, 4 Ways Fresh, GroupGSA, Icon Global, IE Asia Pacific, Intersective, Ironbark Citrus, Lendlease, Linfox, Qantas, RJE Global, Site Group International, Swinburne University, Telstra, UNSW Sydney, Vix Technology, William Angliss Institute, Tony Charters and Associates and Zed Technologies for providing case studies of Australian organisations that are successfully engaging with ASEAN countries.

2 Disclaimer Copyright Report material used as supplied'. This report has been prepared by the Commonwealth of Australia 2017 Provided you have not modified or remixed the Commonwealth of Australia represented by the material in this publication in any way, it may be Department of Foreign Affairs and Trade (DFAT) and reused as long as the following attribution is used: the Australian Trade and Investment Commission (Austrade). The report is a general overview and Source: Australian Government publication is not intended to provide exhaustive coverage of The material in this document is licensed under a ASEAN Now'.

3 The topic. The information is made available on the Creative Commons Attribution International understanding that the Commonwealth of Australia licence, with the exception of: Derivative material is not providing professional advice. the Commonwealth Coat of Arms If you have modified or remixed the material in this any third-party material While care has been taken to ensure the information publication, or derived new material from it in any any material protected by a trade mark in this report is accurate, the Commonwealth does way, the following attribution must be used: not accept any liability for any loss arising from any images and photographs.

4 Reliance on the information, or from any error or Based on the Australian Government publication More information on this CC BY licence is set out at ASEAN Now'. omission, in the report. the creative commons website: creativecommons. Any person relying on this information does so at org/licenses/ Using the Commonwealth Coat of Arms their own risk. The Commonwealth recommends the person exercise their own skill and care, including Attribution The terms of use for the Coat of Arms are available obtaining professional advice, in relation to their use from the It's an Honour website: of the information for their purposes.

5 Before reusing any part of this document, including reproduction, public display, public performance, Unless otherwise specified, all amounts in this The Commonwealth does not endorse any company distribution, dissemination, communication, or report refer to Australian dollars. or activity referred to in the report, and does not importation, you must comply with the Attribution accept responsibility for any losses suffered in Publication date: November 2017. requirements under the CC BY licence. connection with any company or its activities.

6 CONTENTS. Foreword by the Prime Minister 02 SECTION 3. Foreword by the Minister for Trade, Opportunities by ASEAN market 43. Tourism and Investment 03 Brunei Darussalam 44. Introduction 04 Cambodia 45. Indonesia 46. SECTION 1 Lao PDR 48. Why ASEAN matters to Australia 07 Malaysia 49. ASEAN 's economic growth 07 Myanmar 51. Australia and ASEAN trade and The Philippines 53. investment relationship 10 Singapore 56. ASEAN people-to-people links 13 Thailand 58. Vietnam 60. SECTION 2. What's driving growth and opportunities SECTION 4. for Australian business 17 How should companies approach doing Expanding cities 18 business in ASEAN ?

7 65. Growing consumer class 22 Seven practical tips for success in ASEAN 66. Innovation and digital transformation 26 Advice and assistance 67. Deepening integration and stronger References 71. connectivity 33. ASEAN in 2030 40. 01. FOREWORD BY THE. PRIME MINISTER. ASEAN Now' marks both ASEAN 's 50th anniversary In 2014, we elevated our relationship with ASEAN to and a historic juncture in ASEAN - Australian relations. a Strategic Partnership with biennial leaders' summits commencing in 2016. ASEAN embodies opportunity. Its support for open markets has helped create an environment in I look forward to hosting ASEAN Leaders in March which regional real GDP has more than doubled in 2018 at the ASEAN -Australia Special Summit the last two decades.

8 In Sydney. Much of this growth is thanks to ASEAN 's commitment The Special Summit is a historic and unprecedented to integration reflected in the Declaration of the opportunity to strengthen Australia's strategic ASEAN Economic Community in 2015 which partnership with ASEAN and deliver tangible security will bring benefits to Southeast Asia and ASEAN 's and economic benefits to both sides. It represents the economic partners, including Australia. next bold step in our close relationship. But the value of ASEAN extends well beyond Australia and ASEAN 's futures are closely linked.

9 In economics. ASEAN is the voice of the region on the current climate of global change, we must all take strategic issues, using its influence to shape a world on greater responsibility for leadership and work more where might is not right and where global citizens closely together in every respect. big and small uphold international rules and norms. I commend ASEAN Now' to you and trust it will help us Australia's relationship with ASEAN has gone from to realise the vast potential of our region. strength to strength. Since becoming ASEAN 's first Dialogue Partner in 1974, we have worked to support the organisation's economic integration and trade liberalising activities as well as supporting other pillars of activity.

10 The Hon Malcolm Turnbull MP. Today, ASEAN as a group is one of our top three trading partners, representing around 15 per cent of Australia's total trade. Our security , people-to-people, education, cultural and tourism links are substantial and growing. 02 ASEAN NOW insights for Australian business FOREWORD BY THE. MINISTER FOR TRADE, TOURISM AND INVESTMENT. Australian business have an exciting opportunity to The ASEAN -Australia-New Zealand Free Trade capitalise on the significant and growing opportunities Agreement (AANZFTA) and our bilateral FTAs available on our doorstep in the ASEAN region.


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