Australia hosted the ASEAN-Australia Special Summit in March 2024 to enhance trade relations in key sectors like agriculture, healthcare, digital economy, and education and introduced initiatives to extend visas for ASEAN nations.
Australia-ASEAN Special Summit Overview
In March 2024, Australia hosted the ASEAN-Australia Special Summit, marking 50 years of partnership with ASEAN member states. The summit aimed to strengthen economic and diplomatic ties between Australia and Southeast Asia, focusing on key industries.
Prioritizing Key Sectors for Trade Enhancement
Australia’s ‘Southeast Asia Economic Strategy to 2040’ prioritizes sectors like agriculture, healthcare, infrastructure, digital economy, and education to boost trade with Southeast Asia. By concentrating on these sectors, Australia aims to enhance cooperation and create more opportunities for economic growth in the region.
Achievements and Initiatives Post-Summit
Following the summit, Australia announced initiatives to improve visa access for ASEAN states, including extending business visitor visas to a five-year span and introducing a new Frequent Traveler stream offering a 10-year visa to eligible parties. Additionally, investment Deal Team hubs will be set up in Jakarta, Singapore, and Ho Chi Minh City to facilitate outbound investment prospects for Australian businesses through market intelligence and regulatory advice.
Source : An Overview of the 2024 ASEAN-Australia Special Summit
