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With South Australian exports to Southeast Asian nations now on par with China, our largest trading partner, the Minister for Trade and Investment recently embarked on a trade and economic mission to the heart of this $6 trillion economic zone.

The first trade minister to visit the region in nearly a decade, Minister Szakacs travelled to Indonesia, Malaysia and Singapore to meet with senior government ministers, industry and business leaders, as well as the head of the Association of Southeast Asian Nations (ASEAN), which collectively represents more than 600 million people and is on track to be the world’s fourth largest economy by 2040.

Deepening and capitalising on the economic opportunities in the region for South Australia were central to the mission, focusing on the technology, health, higher education, agriculture, food and wine sectors.

The mission follows the successful ASEAN Business Forum, the region’s largest corporate event, which was hosted in Adelaide for the first time in more than a decade and was attended by around 750 national and international delegates.

Just one of the many positive outcomes of the mission was a Memorandum of Understanding signed between leading local space technology company, Myriota, with Indonesia’s leading satellite service provider Telkomsat in Jakarta.

As this important region continues to grow at pace, it also represents a successful market diversification story for South Australia, allowing us to spread risk across a wider range of international markets and reap significant long-term trade and investment opportunities.