Adelaide has become the focus of regional trade and investment today as the Australia-ASEAN Business Forum gets underway, drawing hundreds of senior officials and business leaders from across Southeast Asia.
Around 750 delegates, including diplomatic representatives, investors and commercial leaders, are in South Australia for the two-day event, which is being held in the state for the first time in more than a decade.
Supported by the Malinauskas Government, the forum will centre discussions on renewable energy, digital transformation, artificial intelligence and the green economy. It will also highlight opportunities under the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement, which has been in effect since 2022.
Among those addressing the forum are Premier Peter Malinauskas and Trade and Investment Minister Joe Szakacs, alongside ASEAN Secretary-General Dr Kao Kim Hourn, Australia’s Ambassador to ASEAN Tiffany McDonald, ASEAN Business Advisory Council Malaysia Chairman Tan Sri Nazir Razak, and industry leaders from across Australia, including Santos Managing Director Kevin Gallagher.
ASEAN countries collectively represent more than 600 million people, with a rapidly expanding middle class and growing industries. The bloc is forecast to become the world’s fourth largest economy by 2040. For South Australia, the region has been identified as a priority market in the state’s new trade and investment strategy.
Minister Joe Szakacs said the event reflects the state’s determination to build stronger ties. “Southeast Asia is already a global trading powerhouse and is continuing to grow,” he said. “The opportunity that this represents for South Australia is very real, and our Government is working hard with our state’s industries to ensure we capitalise on it. Seeing events like this return to the state for the first time in more than a decade is testament to this. We will be looking to build upon our already strong relationships in the region this week.”
Australia-ASEAN Business Forum Chairman Francis Wong OAM said the event offers Adelaide a rare chance to showcase itself to a new audience. “In a significant milestone for South Australia, over 70 per cent of attendees will be visiting Adelaide for the first time, providing a unique opportunity to showcase the state’s dynamic growth, innovation, and investment potential,” he said. “This is an unparalleled opportunity to showcase the new, vibrant South Australia to influential business leaders and investors from across our region. We are confident the forum will unlock long-term partnerships and new opportunities that will benefit both Australia and ASEAN, especially South Australia.”
The 15 member countries of RCEP account for around 30 per cent of both global GDP and population, and all 10 ASEAN members are part of the agreement, alongside China, Japan, South Korea, Australia and New Zealand.
For Adelaide, the forum marks a return to hosting high-level international engagement at a time when Southeast Asia is becoming increasingly central to Australia’s trade ambitions.
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