Unlocking Asia: CPA Australia urges bold action to boost national capability

• Australian businesses are missing significant investment and innovation opportunities in Asia.
• Education, business and professional exchange programs must be expanded.
• Speaking from experience – CPA Australia has nearly 50,000 members in the region.

One of the world’s leading accounting bodies, CPA Australia, is urging the Federal government to take bold steps to strengthen Australia’s Asia capability, warning that Australian businesses are missing out on significant opportunities in the region. 

In a submission to the government’s inquiry into building Australia’s Asia capability, CPA Australia provides four key recommendations aimed at deepening Australia’s engagement with Asia through education, business and cultural exchange. 

Rebecca Keppel-Jones, Chief Member Operations Officer at CPA Australia, says many Australian businesses, particularly SMEs, remain domestically focused and are not capitalising on opportunities in Asia. 

“Asia is central to Australia’s future prosperity. To remain competitive, we must build Asia capability from the classroom to the boardroom,” Ms 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.” 

CPA Australia is proud to have maintained a strong presence in Asia for more than 70 years. It now represents nearly 50,000 members in mainland China, Hong Kong, Malaysia, Singapore, Indonesia, Vietnam and the UAE. 

“Australia must better leverage its people-to-people connections and professional networks to unlock economic potential,” Ms Keppel-Jones said.  

CPA Australia’s four key recommendations: 

1. Expanding Asia-focused training for SMEs to improve business readiness and regional engagement. 
2. Showcasing Australian success stories in Asia through a government-supported case study library to inspire and educate. 
3. Increasing scholarships and professional placements for young Australians to study and work in Asia. 
4. Revitalising Asian language and cultural education in schools and universities to reverse declining enrolments and build long-term regional literacy. 

“As global dynamics shift, our ability to engage with Asia is more critical than ever. We need to ensure Australia’s workforce is globally competitive,” Ms Keppel-Jones said. “We are ready to work with government, educators and industry to turn these recommendations into action.” 

The submission highlights CPA Australia’s active contributions to regional policy development, education and professional exchange, including a reciprocal work placement exchange program with Malaysia.  

Eligible CPA Australia members can enjoy temporary work placements in Malaysia as part of a broader Young Professionals Exchange Program organised by the Department of Foreign Affairs and Trade. The exchange program is designed to enhance business engagement between Australia and its Southeast Asia partners and is available in Malaysia first, before being rolled out to other Southeast Asian markets. 

CPA Australia’s thought leadership initiatives across Asian nations include its annual Asia-Pacific Small Business Survey and Business Technology Report. 

 

Media contact

Simon Downes, External Affairs Lead
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