DBS Bank and the Australian Trade and Investment Commission (Austrade) signed a memorandum of understanding (MOU) to promote cross-border trade and investment between Australia and Southeast Asia, aligning with Canberra’s long-term economic strategy for the region.
The partnership, announced during the 10th anniversary of DBS’ Sydney branch, aims to provide Australian companies with regulatory guidance, market insights, and financial advisory support to expand in markets such as Singapore, Indonesia, Malaysia, and Vietnam.
The agreement is the first of its kind between Austrade and a Singapore-based bank. It sets out a framework for collaboration, including co-hosting events like an investor roundtable in Sydney later this year, to engage businesses and spotlight regional growth sectors.
With Southeast Asia projected to become the world’s fourth-largest economy by 2040, DBS said it will enhance its support for Australian clients in key sectors including technology, renewables, energy and infrastructure.
The bank also plans to deepen ties with Australian financial institutions, particularly superannuation funds.
DBS has facilitated both inbound Asian investments in Australian property and outbound Australian expansions in the region since opening its Sydney office in 2015.
Business News Asia