Business must lift role of Asian Australians

Companies would be asked to disclose the cultural make-up of their staff and the Morrison government would work with business to organise a high-level trade mission to China.

Business Council of Australia chief executive Jennifer Westacott says large organisations should be transparent about the cultural mix of their board members and leadership teams if they want to be relevant to particular Indo-Pacific markets. Picture: Gary Ramage

Companies would be asked to disclose the cultural make-up of their staff and the Morrison government would work with business to organise a high-level trade mission to China as soon as the international border reopened, under a plan designed to keep Australia relevant and competitive in Asia.

The Asia Society and Business Council of Australia’s Asia taskforce also recommended exports should make up 35 per cent of GDP by 2030, up from 29 per cent today, and said navigating our relationship with China “requires strategic patience, avoiding over-reaction and emotion, maintaining long-established personal networks, and continuing to be prepared to co-operate on issues that benefit both countries”.

“There is plenty of room in Asia for Australia, but Asia is not waiting for us,” the taskforce’s final report, A Second Chance: How Team Australia can succeed in Asia, says. “Learning to navigate a more complex relationship with China is imperative, and efforts to ensure both countries engage constructively must be a priority.”

The taskforce’s 24 recommendations include that the federal government “should collaborate on criteria to require non-public sector employers and companies with 100 or more employees to define, collect, disclose and report data on cultural diversity”.

There could also be a champions of change for gender diversity program tailored towards diversification: “Business and government should work together to elevate the role of the Asian Australian community, diaspora and international alumni networks in advancing Australia’s economic and soft-power objectives.”

BCA chief executive Jennifer Westacott said it was not unreasonable to ask large organisations what their cultural mix of employees was, noting it could form part of a skills survey provided to shareholders.

“I don’t think it’s about setting targets, I think it’s about just saying to companies – have a look at your representation at senior leadership and board level and make sure that it is culturally fit for purpose for the kind of company you’ve got and is representative of the makeup of the community,” Ms Westacott said.

Trade and Tourism Minister Dan Tehan, who launched the report, said he would have to wait for an invitation from Beijing before going to China with a business delegation. The govern­ment’s priority was restarting minister-to-minister dialogue.

“Being able to lead a delegation would be one of the things you might seek to do down the track,” he said.

“At this stage we’re still waiting for that opportunity hopefully to be able to get those minister-to-minister links happening.”