The federal government hopes its new Indigenous advisory group will have First Nations business primed to leverage trade and economic opportunities.

The First Nations Trade and Investment Advisory Group was announced on Thursday and tasked to support Indigenous people, businesses and communities with new trade and investment opportunities.

Aboriginal and Torres Strait Islander export businesses generated more than $670m in revenue across the 2022-23 financial year, and typically employed seven times more workers than other Indigenous businesses.

The group will help First Nations businesses tap into an array of trade and economic opportunities, including a recent free trade agreement with United Arab Emirates, so Indigenous businesses could reap greater benefits of international trade.

FNTIAG membership included a range of First Nations business leaders, industry groups and experts in international trade including Bevan Mailman (Desert Springs Octopus), Brian Bero from the First Nations Clean Energy Network, the Australian National University and top Indigenous law fim Marrawah Legal, led by prominent businesswoman Leah Thomson.

Indigenous Australians minister Malarndirri McCarthy said growing trade and investment links for First Nations people delivered well-paying, secure jobs in communities across Australia.

"First Nations Australians are the holders of Traditional Knowledge and culture, and these perspectives can only benefit Australia's international trade and investment agenda," she said on Thursday.

"Initiatives like the First Nations Trade and Investment Advisory Group ensure First Nations perspectives, experiences and interests are embedded in our international economic agenda.

"Working in partnership demonstrates the value of knowledge sharing and can deliver real, long-term economic empowerment and self-determination for First Nations Australians."

Trade and Tourism minister Don Farrell reiterated First Nations people as Australia's first traders, exchanging goods with Makassan seafarers from Indonesia dating back many centuries.

"These days First Nations businesses export a range of goods including native botanicals, art, design, cyber and clean energy solutions to the world markets," he said.

Thursday's announcement followed last month's EOIs for prominent First Nations business leaders to consider joining the government's Northern Australia Indigenous Reference Group as it seeks a new chair and board member.

The IRG has since 2017 advised the government on northern development, and was now focused on advising priorities it helped influence in Labor's 2024-2029 Northern Australia Action Plan, which featured renewed policies that promote economic opportunities, housing, education and infrastructure.

The current federal government's efforts to improve Closing the Gap targets and empower Indigenous communities were ostensibly enhanced by its establishment last year of a First Nations Reference Group, which it would consult on the design and implementation of its $707 million Remote Jobs and Economic Development program, as well as other Indigenous-focused policy and funding initiatives.

The RJED program is expected to create 3,000 jobs in remote Australia and "help close the gap in employment outcomes and boost economic opportunities", the government said, though concerns have been raised over some regions getting very little benefit from the plan.

The First Nations Reference Group is comprised of economic development experts across remote Australia and representatives from organisations such as the Coalition of Aboriginal and Torres Strait Islander Peak Organisations, the Australian National University, Supply Nation and the First Nations Workers Alliance.

Details on joining the new trade and investment Advisory Group are available online.