Australian Prime Minister Anthony Albanese on Wednesday launched the country's "Southeast Asia Economic Strategy to 2040" aimed to deepen Australia's economic engagement with the region.
Albanese unveiled the strategy in Jakarta, Indonesia, where the leaders of the Association of Southeast Asian Nations (ASEAN) are meeting for their annual summit.
A statement issued from the Australian prime minister's office said the strategy set out a practical pathway to increase Australia's two-way trade and investment with the Southeast Asian countries.
"Our economic future lies with Southeast Asia. This strategy outlines how we can harness this growth, and seize the vast trade and investment opportunities our region presents," said Albanese.
Under the strategy, the Australian special envoy for Southeast Asia, Nicholas Moore AO, identified 10 priority sectors offering the most potential for growth, including agriculture and food, resources, green energy transition, infrastructure, education and skills, visitor economy, healthcare, digital economy, professional and financial services, and creative industries.
Albanese also attended the ASEAN-Indo-Pacific Forum summit in Jakarta, as Indonesia has been hosting the 43rd summit of ASEAN leaders since Tuesday.
Addressing the summit, he said his country is strengthening relationships across Southeast Asia and the Indo-Pacific region.
"Southeast Asia is key to Australia's economic future, but for too long our investment in the region hasn't kept up with our potential. This new strategy will help us turn that around, and make the most of this opportunity for growth," Albanese wrote on X, formerly known as Twitter.
