Australian business needs to better promote its services sector to win greater recognition in China, according to our leading diplomat in Beijing.
Australian Ambassador to China Frances Adamson believes more needs to be done if the services sector here, including financial services, is to be seen in the same light as our resources sector and agriculture.
Ms Adamson said that Australians may regard our services sector as world class, including our banks, but that is not yet appreciated in our most significant export market.
“I don’t think China recognises that capability,” she said.
“We have a growing portfolio of success stories but we need more.”
Speaking at an Australia China Business Council event in Perth, she recommended business organisation such as her host put more energy into promoting the abilities of service providers as China’s growth pattern continues to evolve.
Ms Adamson spoke on a wide range of topics including the progress of the proposed free trade agreement with China and opportunities for Australian business, including the growth area of agriculture.
She said Chinese consumers could not be taken for granted despite their vast numbers and huge demand.
For instance, in agriculture, Ms Adamson said there were significant opportunities but customers in China could be even more discerning than Australian buyers, and exporters needed to understand their market.
She said the FTA negotiations were on track but this agreement would be different to previous deals struck by China with other trade partners such as New Zealand, Iceland, Switzerland and Chile.
“When we conclude the FTA this will be China’s first FTA with a top 20 economy,” Ms Adamson said.
The leading diplomat has previously stated that both Australia and China are keen for the FTA be finalised by the time China’s President Xi Jinping visits Australia in November for the G20 Leaders Summit.
