Australia is pushing to increase business with south-east Asia. Already trade increased by A$5.7bn (US$3.8bn) in 2024, a 3 per cent rise on the previous year, according to government data. Trade with Laos saw the biggest growth at 32 per cent and Singapore, Canberra’s largest trading partner in the region, registering 6 per cent. Much of the growth has been driven by agriculture. But other sectors, such as mining, finance and manufacturing, are also expanding. The premise is that increased trade with the region would shore up security as geopolitical tensions in the Indo-Pacific had risen.
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Here’s a fun fact despite being neighbours Australia and Indonesia have historically had the lowest trade volumes of any G20 pairing.
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Australia is pushing to increase business with south-east Asia. Already trade increased by A$5.7bn (US$3.8bn) in 2024, a 3 per cent rise on the previous year, according to government data. Trade with Laos saw the biggest growth at 32 per cent and Singapore, Canberra’s largest trading partner in the region, registering 6 per cent. Much of the growth has been driven by agriculture. But other sectors, such as mining, finance and manufacturing, are also expanding. The premise is that increased trade with the region would shore up security as geopolitical tensions in the Indo-Pacific had risen.
Here’s a fun fact despite being neighbours Australia and Indonesia have historically had the lowest trade volumes of any G20 pairing.