'A Second Chance' Asia Taskforce Interim Report | Asia Society Skip to main content

Unsupported Browser Detected.
It seems the web browser you're using doesn't support some of the features of this site. For the best experience, we recommend using a modern browser that supports the features of this website. We recommend Google Chrome, Mozilla Firefox, or Microsoft Edge

  • Events
    • Upcoming Events
    • Past Events
    • Global Live Webcasts
    • Program Streams
  • Issues
    • Complex Asia
    • Trade Smarter
    • Living with China
    • Generation Asia
  • Analysis
    • Briefing MONTHLY
    • China Executive Briefing
    • Disruptive Asia
    • Southeast Asia and COVID-19 Project
    • Webcast Videos
    • Explainers
    • Looking Ahead
    • Australian Election Policy Briefs 2022
  • Initiatives
    • Asia Trade and Innovation Hub
    • Supply Chains in Southeast Asia
    • Generation Asia Research Reports
    • Asia Taskforce
    • CEO Roundtables
    • Viet Nam Initiative
    • Australia and Korea: Middle Power Parallels
    • Australia-Japan: Stepping up a Special Strategic Relationship in Asia
  • Experts
    • Asia Society Policy Institute in Australia
    • Distinguished Fellowships
    • Scholar-In-Residence
    • Media Enquiries
  • News
  • Members and Partners
    • Become a Member
    • Our Members
    • Our Partners
  • Support Us
    • Support Asia Society Australia
    • Donate now
    • Planned giving
  • About
    • About Asia Society Australia
    • Our Strategic Plan
    • Our Programs
    • Our People
    • Our Board and Advisory Council
    • For the Media
    • Careers and Internships
    • Contact Us
Australia
Search
Australia
  • Events
    • Upcoming Events
    • Past Events
    • Global Live Webcasts
    • Program Streams
  • Issues
    • Complex Asia
    • Trade Smarter
    • Living with China
    • Generation Asia
  • Analysis
    • Briefing MONTHLY
    • China Executive Briefing
    • Disruptive Asia
    • Southeast Asia and COVID-19 Project
    • Webcast Videos
    • Explainers
    • Looking Ahead
    • Australian Election Policy Briefs 2022
  • Initiatives
    • Asia Trade and Innovation Hub
    • Supply Chains in Southeast Asia
    • Generation Asia Research Reports
    • Asia Taskforce
    • CEO Roundtables
    • Viet Nam Initiative
    • Australia and Korea: Middle Power Parallels
    • Australia-Japan: Stepping up a Special Strategic Relationship in Asia
  • Experts
    • Asia Society Policy Institute in Australia
    • Distinguished Fellowships
    • Scholar-In-Residence
    • Media Enquiries
  • News
  • Members and Partners
    • Become a Member
    • Our Members
    • Our Partners
  • Support Us
    • Support Asia Society Australia
    • Donate now
    • Planned giving
  • About
    • About Asia Society Australia
    • Our Strategic Plan
    • Our Programs
    • Our People
    • Our Board and Advisory Council
    • For the Media
    • Careers and Internships
    • Contact Us

'A Second Chance' Asia Taskforce Interim Report

Corporate taskforce releases interim report on what business needs to do to boost trade and investment in Asia

Asia Taskforce Interim Report 'A Second Chance' thumb
July 1st, 2020
  • The Business Council of Australia and Asia Society Australia’s Asia Taskforce today released their interim report, A Second Chance;
  • Australian business understands the opportunities in Asia but has made relatively limited progress on building wider trade and investment and in some markets is losing ground;
  • The taskforce fast tracked the release of interim report to give Australian business tools to help recovery;
  • The report identifies eight fundamental characteristics of successful businesses in Asia and 25 recommendations for business and government to support deeper engagement in the region.

Asia Taskforce Interim Report 'A Second Chance' cover

View and Download 
'A Second Chance' - Asia Taskforce Interim Report
PDF 842kb


The Business Council of Australia and Asia Society’s Asia Taskforce with knowledge partners PwC Australia and the University of Sydney Business School has today released their interim report 'A Second Chance', providing a blueprint for deeper engagement in the region, boosting trade, living standards and building a strong economic recovery.

In response to the new challenges Australia faces as the result of the COVID-19 pandemic The Asia Taskforce has fast tracked the release of their interim report.

Taskforce Chairman and Compass Group Asia Pacific Managing Director Mark Van Dyck said:

“Australian business understands the opportunities in Asia but we have made relatively limited progress on building wider trade, and in fact in some markets we are losing ground.
“It’s critical we penetrate our existing markets in Asia more deeply. They still hold a massive opportunity for us.

“By 2030, 50 per cent of the world’s food and 40 per cent of its energy will be needed by a growing middle class of 500 million people in Asia.

“Covid19 has had a profound impact on Australia’s economy and it is hard to see how we get back to growth without greater trade. This report isn’t about the what, it is about the how. This is a playbook for how Australia can succeed in the region and recover from the COVID-19 pandemic.”

Asia Society Australia chief executive officer Philipp Ivanov said:

“Australia has a chance to capitalise on Asia’s economic recovery and our own successes. Despite the economic damage of COVID-19, Asia is likely to remain the epicentre of global economic dynamism.

“Our challenges are in execution and coordinated effort. It is about maintaining trade with China while expanding to other mature and emerging markets in the region”.

Along with recommendations for government the report also provides a blueprint for Australian businesses working to succeed in Asia.

Business Council chief executive Jennifer Westacott said:

“Just as it has been for the last 30 years, Asia will continue to be crucial to Australia’s economic growth. If we get this right Australia can emerge from the COVID-19 pandemic well positioned for another three decades of better living standards, new jobs and higher wages.

“It isn’t just governments that need to adapt and change, businesses must work to understand their markets, build trusted and lasting relationships and look at new and innovative ways to embed themselves in emerging markets.

“Australia must always be an open trading nation because that’s how we can deliver the better living standards, new jobs and higher incomes Australians want.”

PwC Australia Asia Practice Leader Andrew Parker said:

“Australia has a strong reputation as a safe place to do business and as a reliable partner. COVID-19 has likely enhanced that reputation. As we enter the COVID-19 recovery phase, Australia is well positioned to help less developed neighbours. With one of the world’s largest pools of pension funds, our capabilities in technology, innovative ideas, and our concentration of talented people - we can contribute to all the key drivers of economic growth.

“A 2014 report by PwC Australia warned that the Asian opportunity was quite literally passing us by. COVID-19 has handed us a second chance to lift our economic engagement with Asia. We should not waste it.”

“Asia is different and for many, it is uncomfortably so. And while growth is never a risk-free proposition, managing that risk in Asia is possible. The Taskforce’s Interim Report sets out how.”

'A Second Chance' is a crucial piece of work for Australia as we grapple with the consequences of the unprecedented, rapid change caused by the COVID-19 pandemic.

The Asia Taskforce’s final report will be finalised in September 2020.

Asia Taskforce Publications

  • Asia Taskforce Discussion Paper 'The Right Product Sold the Right Way' cover
    report

    'The Right Product Sold The Right Way' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper on opportunities for Australian business in Japanese financial services.
  • Asia Taskforce Interim Report Special Supplement
    report

    'What successful companies do well': Asia Taskforce Special Supplement

    This special supplement to the Asia Taskforce Interim Report presents case studies of Australian businesses in Asia.
  • Asia Taskforce Discussion Paper Indonesia Healthcare Innovation
    report

    'Taking Australia’s healthcare innovation advantage to Indonesia' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper explores Australia's competitive advantage and Indonesian healthcare.
  • Asia Taskforce Discussion Paper Indonesia Healthcare Investment
    report

    'Investing in Indonesian Healthcare' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper provides opportunities for Australian business in Indonesian healthcare.
  • Asia Taskforce Discussion Paper 'Australian universities, international students and China' thumb
    report

    'Australian Universities, International Students and China' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper examines Australian higher education sector engagement with Asia.
  • Asia_Taskforce_Discussion_Paper_3_'Asian-Australians and Diaspora' thumb
    report

    'Enabling Australia’s Asian-Australian and Diaspora Communities' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper exploring the competitive advantage of Asian-Australian and diaspora communities.

Pagination

  • Current page 1
  • Page 2
  • Next page Next
  • Last page Last

Asia Taskforce

  • BCA taskforce cityscape

    Asia Taskforce

    Business Council of Australia and Asia Society Australia, together with Knowledge Partners PwC Australia and the University of Sydney, convenes a high-level taskforce to develop practical solutions for Asia-Australia business engagement.

Asia Taskforce Publications

  • Asia Taskforce Discussion Paper 'The Right Product Sold the Right Way' cover
    report

    'The Right Product Sold The Right Way' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper on opportunities for Australian business in Japanese financial services.
  • Asia Taskforce Interim Report Special Supplement
    report

    'What successful companies do well': Asia Taskforce Special Supplement

    This special supplement to the Asia Taskforce Interim Report presents case studies of Australian businesses in Asia.
  • Asia Taskforce Discussion Paper Indonesia Healthcare Innovation
    report

    'Taking Australia’s healthcare innovation advantage to Indonesia' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper explores Australia's competitive advantage and Indonesian healthcare.
  • Asia Taskforce Discussion Paper Indonesia Healthcare Investment
    report

    'Investing in Indonesian Healthcare' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper provides opportunities for Australian business in Indonesian healthcare.
  • Asia Taskforce Discussion Paper 'Australian universities, international students and China' thumb
    report

    'Australian Universities, International Students and China' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper examines Australian higher education sector engagement with Asia.
  • Asia_Taskforce_Discussion_Paper_3_'Asian-Australians and Diaspora' thumb
    report

    'Enabling Australia’s Asian-Australian and Diaspora Communities' Asia Taskforce Discussion Paper

    The Business Council of Australia and Asia Society Australia’s Asia Taskforce discussion paper exploring the competitive advantage of Asian-Australian and diaspora communities.

Pagination

  • Current page 1
  • Page 2
  • Next page Next
  • Last page Last
About
  • Mission & History
  • Our People
  • Become a Member
  • Career Opportunities
  • Corporate Involvement
visit us
  • Hong Kong
  • New York
  • Texas
global network
  • Australia
  • France
  • India
  • Japan
  • Korea
  • Northern California
  • Philippines
  • Southern California
  • Switzerland
  • Washington, D.C.
resources
  • Arts
  • Asia Society Magazine
  • ChinaFile
  • Current Affairs
  • Education
  • For Kids
  • Policy
  • Video
shop
  • AsiaStore
initiatives
  • Arts & Museum Summit
  • Asia 21 Next Generation Fellows
  • Asia Arts Game Changer Awards
  • Asia Game Changer Awards
  • Asia Society Museum: The Asia Arts & Museum Network
  • Asia Society Policy Institute
  • Asian Women Empowered
  • Center on U.S.-China Relations
  • Coal + Ice
  • Creative Voices of Muslim Asia
  • Global Cities Education Network
  • Global Talent Initiatives
  • U.S.-Asia Entertainment Summit
  • U.S.-China Dialogue
  • U.S.-China Museum Summit
Connect
Email Signup For the media
Asia Society logo
©2023 Asia Society | Privacy Statement | Accessibility | Terms & Conditions | Sitemap | Contact

Asia Society takes no institutional position on policy issues and has no affiliation with any government.
The views expressed by Asia Society staff, fellows, experts, report authors, program speakers, board members, and other affiliates are solely their own. Learn more.

 

 

  • Visit Us
  • Hong Kong
  • New York
  • Texas
  • Global Network
  • Australia
  • France
  • India
  • Japan
  • Korea
  • Northern California
  • Philippines
  • Southern California
  • Switzerland
  • Washington, DC