Logo of ASEAN bloc

According to Data 61 from the data sciences and technology arm of Australia’s Commonwealth Scientific and Industrial Research Organization (CSIRO), those emerging industries include artificial intelligence and autonomous systems, financial and regulatory services technology, high value nutrition, next generation energy storage and distribution, cyber-physical systems security, personal health and ageing and digital infrastructure and connectivity.

Australian Minister for Jobs and Innovation Michaelia Cash stated opportunities for Australia to cooperate with ASEAN member states to create new flow for economic growth and jobs in those countries.

The ASEAN members and Australia have enjoyed close economic ties with two-way trade hitting over AUD 100 billion in 2017 fiscal year.

Australian Minister for Trade, Tourism and Investment Steven Ciobo stressed the significance of the new industries to the bilateral investment and trade in the future.

The emerging industries will help promote export growth and create more export jobs in the coming time, he noted.

Ciobo said that ASEAN will be the fourth largest economy in the world by 2030 and the bloc will have huge economic benefits when Australia helps it transform to digital economy.

Source: VNA