Newly published key findings from the Canada-Asia 2013 Conference have highlighted a growing global interest in expanding engagement with Asia to secure a future position as an Asian-preferred trade partner.
Corrs CEO and partner John W.H Denton joined over 500 leaders from across Canada and the Asia-Pacific at the conference in June to discuss emerging trends in Asia and Canada’s response to them.
Mr Denton said the recently published Canadian findings supported key findings from the ‘Australia in the Asian Century’ white paper, with a focus on breaking down trade barriers and preparing the next generation for an Asia-Centric future.
He noted while Australia was well placed to realise the opportunities of an Asian Century, it was important to also be aware of a growing international focus on developing similar Asia-focused strategies.
“This presents both challenges and opportunities for Australia. We can undoubtedly benefit by working alongside the international community to help liberalise and integrate Asia’s financial markets. There are also some areas of competition, including a widespread interest from many countries in servicing Asia’s growing middle class, making the most of Asia’s expanding service sector and meeting Asian demand for clean technology innovation,” Mr Denton said.
The report also identified two rapidly advancing tracks for regional trade integration in the Asia-Pacific: The Regional Cooperation Economic Partnership (RCEP) and the Trans-Pacific Partnership (TPP). Australia is currently involved in both partnerships.
To view the full report click here.
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