Today I met with business delegates attending the ASEAN-AustraliaSpecial Summit and the Business Summit to highlight Australia's trade andinvestment priorities, and discuss how we could boost ASEAN-Australia trade, investmentand economic integration.
Collectively ASEAN is equivalent to one ofAustralia's top three trading partners, representing around 15 per cent ofAustralia's total trade. In 2016-2017 Australia's two-way trade with ASEAN wasworth about $100 billion.
As a government, we are committed to increasing ourengagement and economic cooperation with ASEAN. We firmly believe that freetrade and economic integration are the best paths to prosperity. That is why wesigned the Trans-Pacific Partnership and why we are involved in negotiations toconclude the Regional Comprehensive Economic Partnership.
Australia has the high quality goods and services demandedby ASEAN. Over 12,000 Australian businesses already export to ASEAN, and wewant that figure to grow. This meeting, alongside the Special Summit andBusiness Summit, has helped business leaders compare insights and identifybusiness opportunities in both Australia and ASEAN.