Message from the CEO
New leaders set to positively impact Australia’s engagement with Asia.
12 April 2022: The two constants of Asia are “change” and “opportunity.”
Australian organisations engaging with Asia will encounter a range of cultures, ongoing disruption and innovation, and endless possibilities. Organisations increasingly need Asia-capable leaders with a unique blend of knowledge, experience, and leadership strengths to simultaneously navigate challenges and seize opportunities.
For both current and emerging leaders, it is essential to have the skills and knowledge to influence and impact their organisation. When leaders fail, it's highly attributable to their lack of preparation. Consequently, the future of Australia’s engagement with Asia relies on leaders who are equipped with the capability and understanding of doing business in our fast-changing region.
From 27 February - to 2 March 2022, Asialink Business along with our partners, Herbert Smith Freehills, was proud to deliver the final installment of our 2021 Asialink Leaders Program in Canberra. The “Canberra Summit” is the pinnacle of a seven-month journey where the Asialink Leaders spend three days deepening their knowledge of economic, political and social landscapes, to support their future engagement with Asia.
While COVID-19 meant our ‘in-person’ summit could only be convened in March of this year, the delay meant I was able to join our group of Leaders as they participated in a wide-ranging and comprehensive program of sessions, workshops and activities. Senior Australian politicians, foreign diplomats, and leaders across business, media, industry, and arts, connected with our cohort imparting their knowledge and insights about Australia’s future in Asia.
The Asialink Leaders Program is a truly unique professional development program. I am particularly proud (and passionate) about its role in nurturing the next generation of forward-thinking, engaging and inclusive leaders who will embrace career-defining opportunities to develop our collective future.
Congratulations to all our Asialink Leaders graduates!
If you are interested to learn more about the program visit the 2022 Asialink Leaders Program here.
What’s in store for Australian businesses in the Year of the Tiger?
The Asialink Business Advisory Council consists of influential leaders from a range of prominent organisations. Recently our esteemed council members gathered to explore the key trends which Australian businesses will face when looking to take advantage of opportunities in Asia.
While Asia remains the fastest-growing region in the world - providing great opportunities for Australian businesses seeking to expand and develop a global footprint - the complexity and speed of change across the region present a dynamic set of challenges.
To help Australian executives stay ahead of the game, we identified seven areas that will shape the regional outlook for business in the year ahead. To find out if Australian businesses are set to roar in the year ahead – you can read our Business Trends in the Year of the Tiger here.
The regional hydrogen supply chain and the future of energy security
As the world looks to renewable energy to lower carbon emissions and meet net-zero carbon targets, surging oil and gas prices have intensified the interest in hydrogen as a competitive option.
Asialink Business was honoured to host a first-of-its-kind event held in Melbourne, analysing the future of hydrogen, technology developments, and how we can strengthen international supply chains. The 'Suiso Economy: Hydrogen Supply Chains Between Japan and Australia' explored collaboration between Australia and Japan featuring international speakers from both countries.
In partnership with the Melbourne Energy Institute at the University of Melbourne and the Consulate-General of Japan, we welcomed speakers such as Dr Akira Yoshino world-renowned Nobel Prize Winner in Chemistry and Director of the Global Zero Emission Research Center, and Dr Alan Finkel AC, Special Adviser to the Australian Government on Low Emissions Technology.
The online and in-person event was attended by over 700 people and addressed key opportunities for the future of hydrogen, ranging from Australia’s relationship with Japan as a trusted trading partner, to a certification scheme to understand the production history of hydrogen, how hydrogen can become a widely utilised alternative, and future options for hydrogen production, storage, and transportation. Our thanks and congratulations to everyone who made this important event happen.
‘Historic’ trade agreement with India
An ‘historic’ new free trade deal to boost exports has been signed by Australia and India. The Australia-India Economic Cooperation and Trade Agreement (AI ECTA) will strengthen our relationship while making Australian exports to India cheaper and creating new opportunities for workers and businesses.
Tariffs will be eliminated on more than 85 per cent of Australian goods exports to India (valued at more than $12.6 billion a year), rising to almost 91 per cent (valued at $13.4 billion) over 10 years.
Australian households and businesses will also benefit, with 96 per cent of Indian goods imports entering Australia duty-free on entry into force.
In response to the agreement, Prime Minister Scott Morrison said, "we are opening the biggest door of one of the biggest economies in the world in India."
India is ranked as our seventh largest trading partner (in 2020), with two-way trade valued at $24.3 billion, and sixth largest goods and services export market, valued at $16.9 billion.
The goal of the AI ECTA is to lift India into our top three export markets by 2035, and to make India the third largest destination in Asia for outward Australian investment.
For many Australian businesses, this will put the “India Opportunity” on the priority list. Asialink Business helps organisations with customised market entry plans and business case development to support their international expansion strategy.
The Australia-India relationship is more important than ever, and the AI ECTA agreement will support unlocking opportunities that will help India and Australia grow together. The agreement sends an important signal that Australia is committed to India in the long term, and we’re committed to aligning our strategic priorities.
To find out more about the opportunities for doing business in India, access a copy of our Country Starter Pack here or contact us directly here.
Leigh Howard,
CEO Asialink Business