Australia and ASEAN driving digital trade

The Turnbull CoalitionGovernment today announced a joint initiative with the ten countries of ASEANto promote digital trade and support inclusive economic growth in our region.

The development of theASEAN-Australia Digital Trade Standards Initiative will provide a framework tosupport the development, adoption and use of international digital tradestandards. Harmonised international standards applied across our region willreduce the costs for Australian business when exporting and importing productsand services.

This will mean that a localbusiness in Geelong or Townsville will be able to better access export marketsin our region which is home to over 600 million consumers.

The growth of ASEAN as an e-commercemarket is outpacing global averages. Taken as a whole, ASEAN is expected togrow above 5.4 per cent each year for the next decade and beyond. This growthcreates immense opportunity for Australian businesses looking to sell theirproducts and services online.

International standards that enabledigital trade will remove barriers that prevent businesses from accessingregional markets and create new opportunities for jobs and growth. It will helpshare the benefits of a more inclusive digital economy.

This initiativecomplements ASEAN's existing digital economy agenda and builds on Australia andASEAN's long history of standards cooperation to promote regional economicintegration and inclusive economic growth.