Chinese Business Roundtable aims to strengthen ties between NSW and China

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Created on Tuesday, 26 November 2013 16:31

Written by Editorial staff

The inaugural Chinese Business Roundtable has just been held in Parliament House, New South Wales.

Premier Barry O'Farrell and the Minister for Citizenship and Communities, Victor Dominello, both attended, along with a group of 20 Chinese-Australian business leaders.

The purpose of this event was to determine how China and New South Wales might bolster the trade and cultural ties between our two regions. It should also help the government figure out if it will be possible to realise the New South Wales International Engagement Strategy it's created.

This strategy was released earlier in 2013 and is the state's very first whole-of-government trade initiative, according to Mr O'Farrell.

In addition to attracting "productive international investment" and fostering the growth of New South Wales business activities overseas, this strategy hopes to "build close international trade and investment relationships" with 10 priority markets - with China leading the pack.

The New South Wales International Engagement Strategy also earmarks Japan, the US, India, the UK, Malaysia, the United Arab Emirates, South Korea, Singapore and Indonesia as priority markets.

Mr O'Farrell said China is New South Wales' "most significant" trading partner, so it's important that our relationship with this fast-growing economy remains strong.

He explained that events such as the Chinese Business Roundtable give the government an opportunity to work alongside business owners and the wider Chinese community "who have the cultural know-how we need to strengthen our friendship into the future".

It was Chinese-Australian business owners who came up with the idea of a Chinese Business Roundtable in the first place. Mr O'Farrell believes this group of influential men and women is the key to amplifying New South Wales' trade relationship with China.

He's also looking for ways to encourage foreign investment in our state.

Mr Dominello explained that New South Wales is "well placed to work with China", and our state should be doing everything it can to make the most of any and all opportunities arising from this nation.

"We have developed deep and enduring cultural ties with China, partially through the 290,000 Chinese-born people living in New South Wales," he said.

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