Competing in the Asian market
New academic leadership publication: Competing in the Asian market
Monday 7 July 2014
New Zealand and Australia’s future prosperity depends on seizing the opportunities to collaborate with Asia in business, education and cultural engagement, according to a new publication launched today.
The Accounting Profession's Engagement with Asia, published by Chartered Accountants Australia and New Zealand, explores the role of the accounting profession in Asia's emerging economies and growth with contributions from leading national and international practitioners, policy makers and academics.
Chartered Accountants Australia and New Zealand Chief Executive Officer Lee White said Asia's emerging market economies are growing exponentially.
“The publication explores the steady economic growth of Indonesia over the past couple of years and its challenges in promoting a strong accounting profession. The number of professional accountants in Indonesia is estimated to be only about 15,000.”
“This represents opportunities for New Zealand and Australia to expand into the growing markets in Indonesia and also support the education of future accountants,” he said.
Mr White said it is important for businesses in both countries to invest in developing skills to actively engage in Asian markets to build their competitive advantage.
“While many members of the business community in Asia have extensive knowledge of and education about Australia and New Zealand, the same cannot be said of Australian and New Zealand business.”
Mr White said that higher education is a cornerstone of future economic prosperity at home and in Asia.
“To remain competitive in the international student market, Australia and New Zealand need to continue engagement with Asia in a way that’s mutually beneficial.
“The publication offers fascinating insights from representatives from international regulatory and standard setting bodies on the cultural interchange between students in Asia and the West and how Australian universities can respond to economic growth in Asian countries,” he said.
The publication is being launched today at the Accounting and Finance Association of Australia and New Zealand Conference in Auckland and has been produced in conjunction with the Centre for Accounting, Governance and Sustainability at the University of South Australia.