BY CHLOE MARTINELLI ON MAY 2, 2016
Australia Week in China marked its second anniversary in early April this year with a huge event that stretched across multiple cities throughout China.
This event was designed to highlight commercial opportunities between the two nations under the China Australia Free Trade Agreement.
Australia Week in China saw more than 1000 Australian business leaders showcasing their companies to the Chinese market with the aim of driving export sales and investment.
China is experiencing a huge increase in its middle class and transitioning into a consumer driven economy, which is creating more and more business opportunities for foreign partners.
David Keir, CEO and founder of ‘Freedom Road Travel’ was one of the many business leaders who participated in Australia Week in China 2016.
“China’s great increase in wealth, its globally-educated workforce increasing, and its demand for services that will grow exponentially – that is the great opportunity,” said Mr Keir.
The ideal outcome of hosting an event like this one is to create more local jobs and economic growth for Australia by promoting trade, tourism, education and investment in Australia’s largest export market.
The event follows on from the hugely successful 2014 event which saw close to $1 billion in export and $3 billion in investment as a result.
This year’s event hoped to generate similar figures whilst also exploring new opportunities that have arisen under the China Australia Free Trade Agreement (ChAFTA).
Under ChAFTA the amount of Australian goods that can enter China has now risen to 86 per cent with plans to increase this amount in January 2019.
ChAFTA has also benefitted the Australian services industry by increasing their access and allowing two-way investment with the world’s second largest economy. The agreement will also enhance Australia’s position in important areas on a global scale, this will include: agriculture, manufacturing exports, services, investment, resources and energy.
Former Minister for Trade and Investment, Andrew Robb, encouraged Australian businesses to take advantage of this agreement and the opportunities it provides.
“With two rounds of tariff cuts on Australian goods exports delivered already under the Agreement in rapid succession, and a whole range of new opportunities for Australian services, now is the time to expand existing links and explore new possibilities,” said Mr Robb.
“Our free trade agreement provides increased market access at a time when China itself is changing, creating demand for exactly the kind of goods and services Australia can provide”.
Australia Week in China 2016 featured eight different sector specific programs held in various cities around China including: Hong Kong, Beijing, Chengdu, Hangzhou, Shenyang, Shenzhen, Guangzhou and Shanghai.
The program for Australia Week in China 2016 focusses on eight main business disciplines including: agribusiness, financial services, innovation, education, health and aged care, premium food and beverage, urban sustainability and water management and tourism.
The 2016 program’s main agenda is innovation across all fields which reflects China’s strong focus on the National Innovation and Science Agenda.
This was the first innovation based program between Australia and China and brought together the fast developing innovative eco-systems of the two nations.
Source: International Journalism – http://internationaljournalism280.com/australia-week-in-china-2016/