In December 2011 the Business Council of Australia made a submission to the Australia in the Asian Century White Paper. The BCA report, prepared with assistance from ITS Global, was titled Assessing Australia’s Trade and Investment with Asia.
Since that time the BCA, in conjunction with The Boston Consulting Group, has undertaken some further specific work assessing Australia’s competitiveness and identifying the opportunities and challenges for Australia in its engagement with Asia.
Through this analysis the BCA has identified five priority areas for action:
- lifting Australia’s competitiveness
- strengthening Australia’s engagement in Asia through an increase in diplomatic and business resources to the most important bilateral relationships, while at the same time maintaining strong relationships throughout Asia
- building community support for increased levels of economic engagement with Asia, including foreign investment
- building the capabilities of Australia’s workplaces to further improve the capacity of our organisations to develop effective relationships and do business in Asia
- recognising the importance of international education and the continuing work of the International Education Advisory Council.