This year’s event convened on March 20, and was without doubt the most formidable line up of speakers assembled in the history of the event. Seven members of Cabinet addressed Members including:

 

• The Hon Julia Gillard MP, Prime Minister of Australia

• The Hon Dr Craig Emerson MP, Minister for Trade and Competitiveness

• Senator the Hon Bob Carr, Minister for Foreign Affairs

• The Hon Martin Ferguson AM MP, Minister for Resources, Energy and Tourism

• The Hon Greg Combet AM MP, Minister for Climate Change and Energy Efficiency, Minister for Industry and Innovation

• Senator the Hon Chris Evans, Minister for Tertiary Education, Skills, Science and Research;

 

The ACBC also lined up a remarkable group of officials from a raft of Commonwealth agencies to provide delegates with economic forecasts as well as policy updates across a massive range of portfolios including:

 

• The Australian Trade Commission

• Australian Bureau of Agricultural and Resource Economics and Sciences

• Treasury

• Tourism Australia

• The DFAT Australia-China Council

 

We at the Council are seeing Chinese companies emerge as responsible stakeholders in 21st century Australia’s economic development. Some years ago it would have been unimaginable to see Chinese companies represented at this year’s event – this year an unprecedented number of representatives from major Chinese companies across a range of industry sectors attended including Huawei, Sinopec, CITIC Pacific Mining, China Eastern Airlines, COFCO, the Yanjian Group, CITIC Resources and China Telecom to name just a few.

 

Delegates were also treated to an exclusive reception hosted by the new Chinese Ambassador. For a number of years now, the Embassy Reception has become an institutionalized part of this event and a highlight of the program.

 

We would like to pay special tribute to the China Economic and Trade Section of the Department of Foreign Affairs and Trade led by the wonderful Margaret Bowen for its fantastic assistance in putting the program together.

 

I think I have said in my reports after the Canberra Networking Day every year that we are convening at such a momentous time in the history of the bilateral relationship. That statement is truer than ever and not just because we are celebrating the 40th anniversary of the diplomatic relationship, which of course is a significant milestone in itself, but the flow of bilateral visits, the continued growth in two-way trade and the pipeline of investment in our economy is just spectacular.

 

Importantly, the Prime Minister’s White Paper on Australia in the Asian Century shows that this Australian Government is committed to establishing positive public policy settings to further develop this relationship into the future. As Dr Henry’s team embarks on the gargantuan task of articulating our engagement over the next century within the confines of a 200 page report, we hope that the Government will act decisively and implement the necessary policy recommendations that have been called for in many of the submissions made to Dr Henry to date.

 

The ACBC has submitted a number of recommendations in its White Paper submission including:

 

• Introducing government subsidies and incentives to high-tech and low carbon manufacturers prepared to enter local joint ventures with Chinese companies, and doubling the Export Market Development Grant (EMDG) for manufacturers in high-tech and low carbon industries.

• Establish a government funded regional development initiative to increase Chinese investment and in-market awareness of core infrastructure priorities and community services in rural and regional Australia

• Provide additional funding via ARC linkage grants to academic institutions that develop partnerships with Chinese counterparties focused on research and development in rural and regional Australia

• Improve capacity of foreign investors and joint venture partners to secure skilled labour in major resources projects to address capacity constraints and manage wider inflationary pressures

• Secure increased access for companies in major infrastructure projects as part of any bilateral infrastructure memorandum of understanding or free trade agreement

 

Importantly, we have further identified broader strategic questions for the White Paper taskforce that I hope will be addressed over the months ahead including:

 

• What are Australia’s key performance indicators for measuring the effectiveness of its China engagement strategy over the short, medium and long-term?

• Should the Australian Government impose a deadline for concluding negotiations towards a comprehensive Australia China free trade agreement?

• What are the key areas of growth in the Chinese economy beyond the 12th five year plan and how can Australian business effectively source these opportunities?

• What is the Australian Government’s strategy to expand Australia’s diplomatic footprint in China as well as strengthen China expertise across government?

• How should the Australian Government most effectively work with state, territory and local governments in developing a comprehensive China engagement strategy?

• Does Australia possess sufficient tourism infrastructure to service the forecast growth in Chinese tourist arrivals?

• What is the long-term role for the Australian Trade Commission (Austrade) in assisting Australian business gain market entry and increase Australia’s investment footprint?

• How should the Australian Government work with business to increase Australia’s investment footprint in China?

• What strategies should Australia adopt over the short, medium and long-term to increase awareness of Australian business outside of the energy and natural resources sectors? What lessons can be learned from Australia’s competitors in areas including the European Union, Canada, the United States, the United Kingdom and Brazil? ■

 

*To download a copy of the Council’s Submission to the Prime Minister’s White Paper or to read more about the Canberra Networking Day please visit: www.acbc.com.au