ASEAN as important as ever: Bishop

The ASEAN region remains an enormous opportunity for Australian investment and one that will continue to grow as regional policy changes take effect, according to Australian Foreign Minister Julie Bishop.

“Australia was ASEAN’s first dialogue partner 42 years ago and our relationship with ASEAN and the country’s within it is as important today as it has ever been,” she told BlueNotes on video. 

"There’s already a strong incentive to invest with ASEAN but the opportunities are unlimited."
Julie Bishop, Australian Foreign Minister

ASEAN as important as ever: Bishop

Speaking in Laos, Bishop said the region’s demographics favoured Australian investment as wealth in the region grows exponentially.

“We’ve seen ASEAN’s growth has been enormous,” she said, noting the firm existing ties between Australia and other counties in the bloc. “There’s already a strong incentive for us to trade and invest with ASEAN countries but the opportunities are unlimited.”

Bishop said the opportunity was enhanced by various trade deals the government is currently working on with ASEAN partners, deals she hopes will ultimately lead to a “free-trade region emerging in our part of the world”. 

“Because ASEAN now has this economic community it means that virtually all intra-ASEAN tariffs have been eliminated,” she said. “This gives great opportunities for Australian businesses.”

She also touched on Australia’s aid efforts in the region and how the country supports regional trade and business. Watch the video above to find out more.

Anna Green is CEO of ANZ Laos

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

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