The Australian Trade and Investment Commission ( Austrade ) and DBS have signed a memorandum of understanding ( MOU ) to create opportunities for Australian companies and investors to expand into Southeast Asia, particularly Singapore, Indonesia, Malaysia, and Vietnam.

In line with Australia’s Southeast Asia Economic Strategy to grow two-way trade and investment through to 2040, the agreement provides a practical pathway to increase market awareness and support to facilitate investments between Australia and one of the world’s fastest growing regions.

The MOU – the first-of-its-kind between Austrade and a Singapore bank – was announced in conjunction with the 10th anniversary of DBS’ Sydney branch. It builds on DBS’ longstanding commitment to advancing Australia’s economic priorities onshore and abroad.

Australia, with its deep capital markets and well-capitalized corporate sector, is well placed to accelerate economic engagement with Southeast Asia. The region also represents a significant economic opportunity for Australian businesses. By 2040, Southeast Asia as a bloc is projected to be the world’s fourth largest economy, with a young and dynamic working population.

Against this backdrop, the initiative sets out a comprehensive framework through which DBS and Austrade will collaborate to help Australian companies establish and expand their footprint in the region.

Facilitating connections

Under the agreement, the partners will make available a suite of essential resources, including market insights and regulatory guidance, as well as facilitate connections with regional partners and industry leaders to unlock commercial opportunities. 

Where appropriate, DBS will leverage its capabilities to provide advisory services such as support on market entry strategies, financial planning, and risk management. Plans are already underway to jointly organize an investor roundtable in Sydney in the third quarter this year to engage businesses and showcase regional investment opportunities.

“Southeast Asia’s expanding middle class, rapid urbanization, and growing demand for digital and sustainable development are reshaping the region’s economic landscape,” says Austrade chief executive officer Paul Grimes.

“Supply chains are being remapped and trade routes re-written. These trends present compelling opportunities for Australian businesses. Through this collaboration, Austrade and DBS will combine expertise to provide timely, practical support to help them seize this enormous potential.”

DBS chief executive officer Tan Su Shan adds: “DBS established our presence in Australia 10 years ago, in recognition of its strategic location and increasing economic cooperation with Asian partners. We are pleased that over the past decade, we have been able to facilitate investment and trade flows for our customers in Australia and to structure and support business initiatives of Australian corporates in the region.

“Looking ahead, the bank will continue to dial up support for customers in key growth sectors such as technology, renewables, energy, and infrastructure. We will also continue to support the growth of financial institutions, including superannuation funds. The MOU with Austrade reaffirms our belief in the potential of Australia-Southeast Asia connectivity and enables us to deliver on our shared ambition to drive meaningful impact across the region.”