The Australian Government has commenced a comprehensive review of Australia’s free trade agreements (FTAs) in Southeast Asia to identify opportunities to upgrade and ensure they continue to deliver for Australian businesses and investors.
The region is projected to become the world’s fourth-largest economy by 2040, driven by an expanding middle class with demand for quality products and services. Australia’s two-way trade with Southeast Asia soared to $183.4 billion in 2023.
The Department of Foreign Affairs and Trade (DFAT) will conduct the review, to inform the Australian Government’s trade and investment agenda and priorities, as outlined in Invested: Australia’s Southeast Asia Economic Strategy to 2040.
The review will:
- examine market access commitments to ensure they remain comprehensive and commercially meaningful, enabling Australia and our Southeast Asian partners to maximise the benefits of modern trade agreements.
- consider whether our FTAs have kept pace with relevant international developments, and consider emerging issues such as digital trade and the net zero economy.
- support Australia’s trade diversification agenda, strengthen our economic integration with Southeast Asia, and bolster our supply chain resilience.
Public submissions to inform the review are now open and will close on 31 December 2025. Views from a wide range of stakeholders, including trade and investment exposed industries and representative organisations, state and territory governments, private sector, civil society, NGOs and the Australian community are welcomed.
To support the review, a $1.75 million grant program has been launched to assist a wide range of Australian industry bodies and representative organisations undertake research and analysis to identify trade and investment priorities and future opportunities in the region. Applications for grants are now open and close on 24 March 2025.
Information about the review – including the Terms of Reference, the grant program and how to make a submission to the review – can be found at Southeast Asian Free Trade Agreements (FTAs) upgrade and modernisation agenda
