Asian focus key to riches for business

YESTERDAY James Cook University hosted an Asian Market Forum, which focused on an update on China.

While Asia sometimes feels like half the world away, the reality is, for North Australians, it’s actually in our backyard and we would be wise to embrace the opportunities that trade with our neighbours could provide.

At yesterday’s conference Audrey Zheng, state manager of Bank of China in Queensland, shared statistics to show how Chinese investment in the Sunshine State and Western Australia had slowed since 2013, in tandem with the resource sector.

Investors instead spent their money in NSW and Victoria, with real estate proving attractive.

That said, China is a long way from walking away from resources and a resurgence is likely to lead to a bounce back in Queensland investment.

Further, China is very interested in renewables. But the opportunities don’t end there.

Indeed any industry that can show it has a competitive advantage by its clean, green Australian attributes could have half a chance with China’s burgeoning, cashed- up, middle class.

Farmers all stand to tap into the lucrative market, as one local mango producer has found out, with his products fetching up to $ 22 each in China.

Our expertise in health and aged care and our clean environment for recovery also has potential.

It was good timing for the forum, given our Mayor and representatives of Townsville Enterprise have this week been in Singapore to discuss opportunities there. With the Singapore defence deal on the cards, a flight into Townsville from Singapore would be a gamechanger for the city.

While the idea of trading overseas is daunting for many, it is important to remember we have a massive market right on our doorstep and the bold stand to reap huge rewards.