Australia’s success in Asia: From rhetoric to reality
5 April 2023: With Australia's engagement with Asia more critical than ever, we were delighted to deliver the first of our Asia Business Briefing events. The event also marked the official launch of the Asialink Business Academy, a new initiative by Asialink Business delivering world-class expertise in building Asia capabilities.
Over 60 senior representatives from industry bodies, government agencies and ASX-listed and SME organisations attended this high-profile breakfast event and participated in a lively discussion, addressing the key question - have we moved from rhetoric to reality in our intention to create an Asia-capable Australia?
Leigh Howard, CEO of Asialink Business provided opening remarks, and facilitated a business panel with esteemed industry professionals Sanjeev Gandhi, Managing Director and CEO, Orica and Catriona Jackson, Chief Executive and Board Director, Universities Australia, both part of the recent eminent delegation of senior leaders accompanying the Australian Prime Minister to India.
Evolving opportunities in a complex and competitive landscape
The panel shared their observations on the shifting trends in the region, highlighting the significant developments across Asia.
Leigh highlighted the rapidly evolving landscape in Asia from “booming infrastructure, fast-growing middle-class, recent but strong commitments to energy transition, but also the very strong presence and investment from Japanese, Korean and US companies in the region.”
Sanjeev outlined the tremendous opportunity for Australia in Asia. “You have a lot of very eager investors in Asia wanting to partner with Australian companies. It’s a fast-growing market. They’re looking for technology, they’re looking for access to products and services that Australia is good at making.”
Catriona emphasized the role Australian universities have played over many years in helping build connections between businesses and the broad Asia market. With the large cohorts of Asian students coming to study in Australia, and broader education linkages which have greatly contributed to the possibilities and facilitation of bilateral trade. This is an important resource that businesses should be tapping into. “There are really strong foundational connections between our region and us already, to be exploited.”
Lessons for Australian businesses and the role of government
Sanjeev suggested that when it comes to Australian business success in Asia, there’s a lot more to be done. This model of producing in Australia and exporting to Asia is not a long-term sustainable model.
He urged Australian companies to get out of their comfort zone and spend more time in Asia. He shared strategies for Australian companies to position them for greater success in the region such as hiring and developing local talent. “People flow is extremely important for us to be successful in our industry. Investment on the ground and developing the local skill-set and then also transferring that knowledge and experience back to Australia, because we can learn from them, and there’s a lot we can learn from Asian markets. It’s bilateral.”
Catriona highlighted the need for businesses to look at the two-way mutually beneficial opportunities with Asia. “If you are not operating in a country in which you are adding real value for them, then it’s not a genuine interaction. It we are not doing it for the benefit of their region and ours, then it won’t come off.”
Launch of the Asialink Business Academy
At the conclusion of the panel session the Asialink Business Academy was officially launched. A comprehensive suite of learning programs to grow business in Asia.
Commencing with a message of support via video, The Hon Ed Husic MP, Minister for Industry and Science endorsed the work of Asialink Business since its establishment.
“Building strong relationships with our friends in the region has never been more important”.
“That’s why the Australian Government’s been a supporter of Asialink Business and its mission to prepare our business leaders with the skills and expertise they need to succeed in Asia.”
“I’m delighted to see the launch of the Asialink Business Academy to build practical skills, connections and drive capabilities in areas that serve our local businesses, but also our national interest.”
Leigh highlighted Asialink Business’ track record and the significance of the academy. “Over the past 10 years we’ve delivered over 850 training programs, reaching almost 25,000 individuals. But the times demand more of us. Our vision for the future is to push beyond the boundaries of our current programs and scale from tens of thousands to hundreds of thousands of participants over the decade ahead.”
“That’s why we’ve developed the Asialink Business Academy, providing a full suite of programs to help Australian businesses and their people acquire the skills and knowledge they need to seize opportunities in Asia.”
For further information about the Asialink Business Academy visit our website or contact our team.
You can watch the video address by the Hon Ed Husic MP, via our YouTube channel.