The huge trade potential of Wollongong and the wider Illawarra area will be the focus of the latest NSW Government ASEAN Market Update for NSW Businesses series being held in Wollongong today.
The updates provide local businesses with information about trends and export opportunities across Southeast Asian markets.
The ASEAN bloc is NSW's second-largest trading partner, with two-way trade in goods growing by more than nine per cent in the past year. Continued rapid growth is expected in sectors where NSW businesses excel, such as food and beverage, health, and the digital economy.
Held in partnership with Asialink Business, today's session will bring together around 80 participants, including Wollongong businesses, industry groups, and diplomatic representatives from Southeast Asian nations, at iAccelerate within the University of Wollongong's Innovation Campus.
Speakers at the forum include NSW exporters who have already utilised Investment NSW's export support services to build connections and drive export sales across Southeast Asia.
The NSW Government is focussed on promoting ASEAN market opportunities to NSW businesses, with the region expected to become the world's fourth largest economy by 2040.
The ASEAN Market Updates series, is supported by other initiatives led by Investment NSW to help small and medium businesses pursue international growth objectives in Southeast Asia and other important export markets around the globe.
In 2024/25, these include supporting cleantech companies to export to Malaysia and Singapore, and wine to be exported to Vietnam.
The ASEAN Market Updates series began with a session in Western Sydney last October and will continue in the coming months with events in the Northern Rivers, the Hunter and Wagga Wagga.
For more information on how the NSW Government supports business to export, visit Investment NSW: https://www.investment.nsw.gov.au/export/
Minister for Industry and Trade Anoulack Chanthivong said:
"The ASEAN region is entering a golden age, propelled by a young population, industrialisation and technological advances, which present significant opportunities for NSW exporters.
"ASEAN nations are actively pursuing economic growth, with an increasing focus on sustainable development, food and health resilience, the digital economy and skills.
"My ASEAN Market Updates series is all about unlocking the potential of NSW businesses to export and partner with Southeast Asia, where our two-way trade is worth $33.6 billion and continuing to grow.
"The attendance of so many senior ranking diplomats, including Ambassadors and Consuls General shows the international attractiveness of the NSW economy and is a big vote of confidence in the Illawarra region."
Minister for the Illawarra and the South Coast Ryan Park said:
"The Illawarra is home to innovative businesses with enormous export potential, and Southeast Asia presents a golden opportunity for growth.
"The NSW Government is here to support Wollongong businesses every step of the way to ensure they can compete and thrive on the global stage."
Member for Wollongong Paul Scully said:
"I'm more than willing to take any opportunity to help sell Wollongong to the world.
"Wollongong has strong connections with the ASEAN region, but there remains enormous potential to take our trade and investment relationship to the next level.
"The University of Wollongong has opened three campuses across Malaysia and has several research partnerships, which is just one example of how we're cultivating deeper connections with the ASEAN region.
"Today's ASEAN Market Updates series is an important opportunity for our local businesses to learn more about this dynamic region and how exporting their products and services could turbocharge their growth."
