A new initiative designed to strengthen the ability of New Zealand companies to do business in Asia was launched at Victoria University on Monday.
The Bank of New Zealand Chair in Business in Asia is a co-operative venture, with BNZ, the Ministry of Foreign Affairs and Trade and Victoria University all participating.
The initiative will draw together skills and knowledge from the various participants in order to assist New Zealand businesses in better exploiting Asia’s breathtaking economic growth.
The policy experience of government departments will be combined with the commercial experience of BNZ and the academic knowledge of VUW staff in order to offer better advice to New Zealand businesses.
Professor Kim-Shyan Fam, head of the School of Marketing and International Business, told Salient that the professor who fills the chair will be bringing in knowledge and experience from Asia, and will be able to relay this to New Zealand businesses.
Seven of the world’s 20 largest economies are located in Asia, as well as fourteen of the world’s 20 fastest-growing. China and Japan are the second and third-largest economies respectively.
“New Zealand’s trade with Asia is a significant trade—in particular in China and the Middle East,” Dr Revi Raman, a lecturer from Victoria’s Faculty of Commerce and Administration said.
“The relevance of Asian countries and their growth
The initiative will not only benefit businesses. The professors who are brought in to fill the Chair will carry out teaching duties and impart their knowledge to students as well.
“If we get the right professors to come in, he or she is bringing in information from whatever research that he or she has done … they are then going to transmit that information to students,” Professor Fam added.