CPA Australia has called on the federal government to adopt comprehensive measures aimed at strengthening Australia’s links with Asia, cautioning that the current lack of engagement could see Australian businesses missing out on valuable prospects in the region. 

In a submission to the government’s inquiry on building national Asia capability, CPA Australia put forward four core proposals focused on enhancing ties through education, business development, and cultural exchange. 

CPA Australia chief member operations officer Rebecca Keppel-Jones said that a considerable portion of Australian businesses—particularly among small and medium-sized enterprises—remain primarily focused on domestic operations and are not taking full advantage of economic opportunities in Asia. 

CPA Australia has operated in Asian markets for more than 70 years, with nearly 50,000 members located across mainland China, Hong Kong, Malaysia, Singapore, Indonesia, Vietnam and the UAE. 

The four recommendations outlined include increasing training programmes tailored to SMEs to boost their preparedness for entering Asian markets and creating a government-supported platform, highlighting examples of Australian companies that have succeeded in Asia. 

Additionally, it proposed offering more scholarships and professional placements for young Australians to study or work in the region; and rejuvenating Asian language and cultural studies within Australian schools and universities to address declining participation. 

Keppel Jones said: “With Asia home to some of the world’s fastest-growing economies, Australia risks falling behind unless it invests in Asia capability now. We need more investment into existing programs, such as the New Colombo Plan, to improve Australians’ understanding of Asia.”  

“Australia must better leverage its people-to-people connections and professional networks to unlock economic potential.” 

The submission also referenced CPA Australia’s participation in regional policy discussions and professional exchanges.  

This includes a reciprocal workplace programme with Malaysia that allows eligible members to take up short-term placements in Malaysian organisations.  

The scheme is part of the Young Professionals Exchange Program managed by the Department of Foreign Affairs and Trade.  

Initially available in Malaysia, it is set to expand into other Southeast Asian markets, with the aim of improving commercial relationships between Australia and the region.