Charles 'Chick' Olsson is on a mission to help Australian businesses wanting to get involved in the dynamic South East Asia region.
Mr Olsson, who is the executive chairman of the innovative methane reduction technology company AgCoTech, said while there were plenty of challenges in developing a business across the region, there were many opportunities for Australian industry, including in agriculture.
Mr Olsson was appointed as one of 10 ASEAN Business Champions by Prime Minister Anthony Albanese at the ASEAN-Australia Special Summit held in Mebourne recently.
"The pace of progress across South East Asia is incredible," Mr Olsson said.
"There is a very large 200-300 million population of young consumers under the age of 30 in the region looking for new technologies and products.
"It's important for Australian businesses to get their feet on the ground, develop strong relationships, and properly understand the dynamic cultures and markets on our doorstep that hold so much potential."
AgCoTech is a notable success story of the Australian-Laos partnership.
The Brisbane-headquartered company has built an impressive factory at Luang Prabang in central Laos that supplies medicated methane supplements at no cost to small holder farmers.
The business is funded through the sale of SDG/carbon credits to sustainably minded businesses in developed countries, including Australia.
In addition to reducing methane emissions from both cattle and buffalo, the supplements are helping to reduce poverty by enabling cattle to grow to marketable weights more quickly, produce more milk and increase the fertility of breeding animals.
"AgCoTech Laos is on track in 2024 to deliver 100,000 20kg emissions blocks to small holder farmers free of charge, which will not only improve beef and dairy production, but will also directly avoid 40,000 tonnes of CO2e being released into the atmosphere," Mr Olsson said.
The nutrition products developed specifically for Laos by AgCoTech are delivering up to a 40 per cent reduction in methane emissions.
Methane mitigant products are also being specifically developed for Australia's pastoral cattle industry.
"There is no one silver bullet when trying to suppress methane production and at the same time increase production," Mr Olsson said.
"Our IP is focused on a range of proven actives in various combinations to be fed out to cattle during high emissions periods, such as dry feed times where emissions are the highest."
"It's early days, but promising. Once more data is available, AgCoTech will be contemplating an Australian IPO in 2025 to conduct more research alongside more factory roll outs across ASEAN."
Foreign Affairs Minister Penny Wong said the Moore report, a report prepared by Nicholas Moore AO who is the Prime Minister's Special Envoy for South East Asia, identified trade and investment had not kept pace with the region's dynamic growth.
"(The Moore) report highlights the importance of strong business-to-business engagement, some we will look to you and the other business champions to help build the region," Ms Wong said.
"The report specifically outlines opportunities for greater economic engagement between Australia and Laos in agriculture and food, resources and green energy."
Ms Wong thanked Mr Olsson for his involvement as a business champion, and assisting Australian businesses looking to take advantage of the opportunities available in the important South East Asian market.
The duties of the 10 ASEAN business champions include participating in trade and investment events across the region.
