ASEAN region now on par with China ahead of long-awaited trade mission

Today, Minister Joe Szakacs departs on a trade and economic mission to ASEAN, the first South Australian trade minister in nearly a decade to travel to the heart of this $6 trillion economic zone.

In addition to ASEAN headquarters, he will visit the leading economies of Indonesia, Malaysia and Singapore.

Minister Szakacs is set to meet with senior government ministers as well as industry and business leaders across the three countries.

He will also meet with the head of ASEAN – an association that collectively represents more than 600 million people and is on track to be the world’s fourth largest economy by 2040.

Latest ABS stats show that the value of South Australian exports to the ASEAN bloc are now on par with China, our largest trading partner.

South Australian exports to ASEAN nations are worth $3.50 billion to our state’s economy, compared to China, worth $3.64 billion[1].

Southeast Asia’s rapid economic growth and its geographic proximity to our state saw the Malinauskas Government identify the region as a priority market in its recently launched trade and investment strategy.

Deepening and capitalising on the economic opportunities for South Australia will be central to the mission, with export and investment outcomes for the state across technology, health, higher education, agriculture, food and wine sectors in focus.

The trade mission also builds upon success of ASEAN Business Forum, held in Adelaide in August this year, the first time the region’s largest corporate event has been to South Australia in more than a decade.

The two-day forum drew around 750 national and international delegates to Adelaide’s CBD, including senior government officials, major investors and commercial leaders.

Minister Szakacs’ trade mission commences three-days after Australia and Indonesia agreed to a bilateral Treaty on Common Security.

Indonesia is the largest democracy in our region, home to more than 280 million people.

Quotes

Attributable to Joe Szakacs

When it comes to trade, investment and economic opportunity, Australia is truly a country of Asia, and ASEAN represents some of the fastest growing economies in our region.

We see evidence of that, with the exports to ASEAN partners now on par with exports to China.

It’s a story of not only market diversification, but also of an unprecedented opportunity to deliver economic outcomes for South Australia as the region continues to boom.

That is why it’s crucial that we get South Australian boots on the ground to build relationships and unlock further opportunity.
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[1] ABS International Trade in Goods ‘September 2025’