Queensland business perfectly placed to take advantage of the 'Asian Century'

Monday 29 October | Categories: Skills Education and Training, Economic Policy

CCIQ welcomes the Federal Government’s release of the ‘Australia in the Asian Century’ White Paper yesterday at the Lowy Institute.

The paper outlines a number of foreign policy issues which will be crucial to Australia’s success in the Asian Century, including business to business links, skills and education.

These are areas in which the Queensland business community is well placed to lead the way.

However, the Queensland business community is wary of lofty aspirations that do not necessarily deliver any practical outcomes.

CCIQ General Manager – Advocacy, Nick Behrens said, “The Asian Century is well and truly shifting the focus of economic development from west to east, and Queensland has the opportunity to play a major role, and benefit significantly.”

“It is encouraging to see the Federal Government taking the opportunity to open up the conversation about how Australia can benefit from the growing middle class across a number of countries in Asia.

“The Queensland business community, ahead of hosting the 2014 G20 Summit is ready and willing to play a larger role in servicing the Asian markets.

“But at the same time, the challenge faced by government at all levels, is that in a tight economic environment, big promises can sometimes prove too big to deliver.

“This is why CCIQ is calling on the Federal Government to provide as much clarity around how they intend to fund opportunities for any new programs associated with this paper.

“Furthermore it is crucial that the Government understands that the current operating environment for Queensland businesses is regulated to a point that makes them uncompetitive on the global stage.

“If we are truly looking to take advantage of the Asian Century, the Federal Government must first address key challenges faced by businesses.

"These include decreased flexibility in the workplace which stifles productivity and as such Queensland’s competitiveness on a global stage.”

Queensland’s resource endowments, agricultural expertise and fantastic tourism offerings place us in the perfect position to adapt and take advantage of the impending growth across the Asia region.

With the growing markets in India, China, Indonesia, South Korea and Japan, we need governments at all levels to consider the current operating environments of Queensland and Australian businesses.

Only then, will Queensland be ready to take advantage of the Asian Century.