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ERIA Briefs Australia-ASEAN Council Board on ASEANs Economic Trends

22 March 2023

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Jakarta, 22 March 2023: The Economic Research Institute for ASEAN and East Asia (ERIA) presented the current economic trends within ASEAN in a briefing to the visiting Australia–ASEAN Council (AAC) Board. The delegation, led by Mr Glenn Key AO, AAC Board Chair, was warmly welcomed by members of ERIA’s Policy Design Department, headed by Policy Fellow Dr Intan Murnira Ramli. The Australian Mission to ASEAN, led by its First Secretary Ms Kate Goodfruit, facilitated the visit.

Dr Intan provided four key points. The first point was a review of ASEAN’s economic status, focusing on trade and growth of gross domestic product. The second was the opportunities for ASEAN’s economy recovery, including growth projection, tourism recovery, and the positive developments in commodity prices. The third was challenges and risks facing ASEAN, specifically weakening exports and geopolitical tensions in the region, changes in governments, and climate change. The fourth was the impact of free trade agreements on ASEAN, specifically the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the Regional Comprehensive Economic Partnership, and the ASEAN–Australia–New Zealand Free Trade Area, especially on medical and educational services. Dr Intan also presented the outlook for 2023 and possible areas for Australia–ASEAN cooperation.

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