Stuart Fuller, Global Managing Partner of KWM, based in Hong Kong, said: “The White Paper sends a clear message that we must integrate with the region in a different way – to be an actor on its stage, rather than being a member of its audience. We must reverse the mixed messages, policy and cultural barriers that often prevent that from happening. If we do this, we will earn our ticket to ride in the Asian Century.
Learning about how to do business in Asia will require Australia to be positive and open-minded, embrace deeper cultural understanding, and be on the ground in Asia with a commitment to the longer term.”
KWM welcomes the three broad areas in the White Paper of improving the capabilities of our people and our businesses, collaboration between countries and organisations, and connections between people.
In particular, KWM welcomes the Government’s commitment to improving the Asia literacy of Australian boards, reducing regulatory red tape and making Australia a better place to do business with, and an increased focus on selling Australian professional services, education and tourism.
King & Wood Mallesons will work closely with government, industry and business organisations and its clients in Australia and Asia to help:
reduce the regulatory barriers that remain a major hurdle to cross-border investment, both into Australia and throughout Asia
increase the integration of capital markets in Australia and Asia
support the development of efficient and coordinated market regulation
find new ways of funding our nation’s infrastructure needs
promote the rule of law and mechanisms to settle commercial disputes
King & Wood Mallesons is the result of the world’s first combination between a Western and Chinese law firm. As a result, the firm has experienced first-hand the opportunities of working in Asia. Its submission to the White Paper called for action around financial co-operation in the region; agreement on key commodities such as energy and resources, food and agriculture; policy and cultural exchanges as well as the development of the rule of law.
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Elle QuinnCommunications ManagerT +61 2 9296 3730
M +61 424 168 080