ASEAN–Australia/New Zealand Corridors 2024

Accessing opportunities in a new era of connectivity

Gain an in-depth analysis of the region’s dynamic investment and trading landscape, helping you unlock opportunities that lie ahead

The ASEAN-Australasia corridor offers significant growth opportunities for businesses on either side through free trade and strong diplomatic ties.

Successfully navigating these markets requires an understanding of local regulations, customs, and languages.

As they mark half a century of diplomatic relations, ASEAN, Australia and New Zealand are increasingly looking to encourage two-way trade and investment across this important corridor.

HSBC’s network captures 95% of GDP, trade, and foreign direct investment. With over 135 years of experience in each of the six biggest ASEAN markets, we serve over 30,000 businesses across this corridor in more than 200 locations.

Priority Sectors

Australia’s Southeast Asia Economic Strategy to 2040 includes investment promotion offices and support for businesses in 10 priority sectors. These sectors align with ASEAN’s development and Australia’s own capabilities, illustrating the breadth and diversity of opportunities on offer in this region:

Food & Agri
Resources
Green energy transition
Infrastructure
Education and skills
Visitor economy
Healthcare
Digital economy
Professional & financial services
Creative industries

Key takeaways


A vibrant trade corridor with significant growth potential	Committed to open access	A differentiated approach is key to success
Australia trades more with ASEAN than with any individual country other than China. Its total trade with ASEAN is more than other key markets such as Japan, the United States, and South Korea, and more than 70% larger than its overall trade with the European Union. ASEAN is New Zealand’s fourth biggest trading partner, with two-way trade in 2023 totalling NZ$26.8 billion (USD17 billion at end-2023 exchange rates), or about 13% of all New Zealand’s trade.	The ASEAN, Australia and New Zealand are connected by a deepening network of free trade agreements and strong diplomatic ties, including the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), which was upgraded in 2023 with additional commitments around digital technology and sustainability – among other enhancements.	The markets in this corridor all have unique characteristics, which can create exciting opportunities as well as challenges. Businesses need to be aware of differences in regulation, business customs, cultures and languages – as well as practical considerations such as the need to manage payments and collections in different currencies and across different channels.

Growth drivers are diverse

While individual markets have their own strengths and weakness, some growth drivers are common across the ASEAN-6

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ASEAN–Australia/New Zealand Corridors 2024

Our ASEAN Corridor reports

To help businesses and investors capitalise on these opportunities, HSBC has developed a series of comprehensive deep dive corridor reports. These in-depth analyses examine the unique characteristics, challenges, and high-potential sectors within each major ASEAN corridor.

Download our reports

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