This week I will travel to Malaysia, for the annual Association of Southeast Asian Nations (ASEAN) Economic Ministers' Meeting, where I will meet my counterparts to deepen Australia's economic ties, and reiterate our strong support for a peaceful, stable and prosperous region.
Our trade and investment relationship with ASEAN is critical for Australia's economy. In 2024, Australia's two-way trade with Southeast Asia reached $195 billion, supporting half a million Australian jobs. ASEAN countries account for around 15% per cent of Australia's total two-way trade.
The ASEAN Economic Ministers' Meeting is an opportunity for Australia to build on our longstanding economic ties with the region, and support our aim to increase two-way trade and investment through the Albanese Labor Government's Invested: Australia's Southeast Asia Economic Strategy to 2040.
During my visit, I will also hold bilateral discussions, including with my Malaysian counterpart. Malaysia is our seventh largest goods trading partner and second largest in ASEAN.
As co-chair of the ASEAN Economic Ministers' Closer Economic Relations Consultations, I will highlight the benefits of our recently upgraded ASEAN-Australia-New Zealand Free Trade Agreement.
I will also reiterate Australia's long-standing support for open, rules-based trade, and advocate for Australian businesses operating in Southeast Asia.
In line with our Invested strategy, Australia is pursuing further investment opportunities with our ASEAN partners in clean energy and critical minerals, education, healthcare services, and advanced manufacturing.
