The role Australian agriculture has to play in the Southeast Asian market and how it can help food security in the region, is the focus of a new parliamentary inquiry.
The region has been identified as a major opportunity for Australian business, because of shared economic growth prospects and geographical proximity to each other.
Meryl Swanson, the chair of the agriculture committee leading the inquiry, says the Albanese government wants to deepen its engagement with Southeast Asia, which is at the centre of global growth.
Southeast Asia is projected to become the world's fourth-largest economy by 2040, after the United States, China and India,
‘Agriculture plays a critical role in sustaining the region’s economic growth," Ms Swanson said.
"Southeast Asia is one of the fastest growing markets for Australian agricultural exports,’ she said.
A recent report commissioned by the government found Australia is already a key partner in helping Southeast Asia meet its food security needs, and there is strong potential to develop this trade relationship further towards 2040.
The inquiry will focus on how Aussie agriculture can further support food security in Southeast Asia, improving market access and trade systems.
It will also look at building capability in the region to improve agricultural sustainability, technology and innovation.
The inquiry followed a referral by Agriculture Minister Murray Watt, and will accept submissions until the end of May.
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