Access Asia Apr/May 2018: ASEAN-Australia Special Summit by AustCham Singapore

ASEAN-AUSTRALIA SPECIAL SUMMIT 2018

APR/MAY

CONNECTING BUSINESSES ACROSS ASIA AND BEYOND anz.com/institutional

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 1

A MESSAGE FROM THE

PRESIDENT

Greetings Members! It’s been a busy time for our AustCham team. No rest for them after the major event in January when we hosted a Chamber lunch with Minister Christopher Pyne. Qantas chief Alan Joyce joined us for a lunch event in February (the only time I’ve witnessed a CEO of an Australian Company being asked for autographs!) and Shayne Elliott, ANZ’s CEO joined us for another warmly received major event in April. Thanks go to the Singapore teams of our members ANZ and Qantas for facilitating these opportunities. On a personal note, I had the privilege of representing your Chamber at the 51st Singapore War Memorial Service in February, and laid a wreath on your behalf at the Anzac Dawn Service. I also had the pleasure of giving the Occasional Address to James Cook University Graduates in April. I confessed to my attempt during my degree to achieve a pass in Literature without actually reading a book– it didn’t work!

Looking towards the future, your Board has unanimously supported significant changes to the Chamber’s constitution. In the lead up to our Annual General Meeting on 21 June, you will be asked to approve changes that will: • Limit the continuous tenure of Board members. A Board member will not stand for re-election if they have continuously served for more than eight years. Although the constitutional change (if approved by members) will not come into force until the 2019, the current Board has decided it is in the best interests of the Chamber to begin the transition this year.

• Half of the Board elected each 12 months with terms increased from one year to two years. There are ten elected Directors on the AustCham Board. Presently all are elected for one year terms. The elections this year will be the last time this applies. For 2019 it is proposed to increase election terms from one year to two years, initially for half the Board. Thereafter, five Board positions would be open for election each year on a rotational basis, with all successful candidates being elected for a 2 year term.

Since the last issue of Access Asia your Chamber has responded to a general invitation from the Government of Singapore to comment on proposed changes to the Employment Act. Also, we arranged Ashurst’s lead partner for employment law in Asia to present a member’s workshop on employment regulations in Singapore.

• Other than casual vacancies and the Austrade nominee, the number of directly appointed (non-elected) board members will be limited to two. Presently there is no limit to the number of non-elected directors who can be directly appointed by the Board. Although the Board has adopted a practice of limiting the number of direct appointments, the Board feels it would better

There have been many more events and discussions your AustCham team have been involved in, or have organised – including International Women’s Day, joint networking with BritCham, emerging markets in the Greater Mekong and much more. AustCham Singapore was the driving force behind the establishment of AustCham ASEAN. Thanks to the huge amount of work by your directors Fraser Thompson, Annette Tilbrook, John Dick and Phil Forrest who helped to ensure the voice of Australian businesses across ASEAN was echoed in the recent Sydney Summit – covered in this issue of Access Asia.

reflect our governance standards if the limitation is stated in the constitution.

As you can see, it has been a very full events program combined with advocacy and for the first time in our history, a fundamental review of our Board composition and constitution. I am grateful for the energy and commitment of our staff. With the support of all Board members in up-dating our Chamber’s governance to reflect more challenging community expectations we will present resolutions for your vote at the AGM in June. I only ask that you take the time now to mark our AGM in your diary for the evening of 21st June, 2018. Chat again in the next issue of Access Asia.

I also have the pleasure of welcoming a new member of your Board. Joining us is Andrew Brown, Regional Head Research and Analysis at ANZ, Singapore. Also, with deep gratitude the Board accepted Derek MacKenzie’s decision to retire from the Board after 20+ years of service.

Ian Cummin President

BOARD MEMBERS Ian Cummin

Sean Straton

Philip Forrest

Guy Scott

Adam Lyle

Andrew Brown

Prerana Mehta

Scott Speedie

PRESIDENT BlueScope

VICE PRESIDENT Padang & Co.

John Dick

HONORARY SECRETARY Dentons Rodyk

HONORARY TREASURER UBS

ANZ Banking Group Limited

Nigel Cummings Sliding Doors Entertainment

Honorary Life Member

Australian Trade and Investment Commission Singapore

Teena Pisarev

Icon SOC Singapore

Cumming Construction Management Inc

Commonwealth Bank of Australia

Benjamin Tan

Qantas Airways

Fraser Thompson AlphaBeta

Annette Tilbrook AustCham ASEAN

Ben Vella Telstra

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A MESSAGE FROM THE

EXECUTIVE DIRECTOR CONTENTS Welcome to the latest edition of Access Asia magazine, where we focus on the recent ASEAN Special Summit in Australia and take another look at the business opportunities in the region. Thank you to everyone who contributed articles; in this edition you’ll find a range of views about the summit and updates about activities in the region that are relevant to Australian business including: •

Australian business’s views on challenges and opportunities in the region as well as potential actions to address the challenges and harness the opportunities, collated by AustCham ASEAN after their industry roundtables and presented at the CEO Summit.

•

Some helpful information about the free trade agremeents that operate across ASEAN, because we know this can be a minefield for business to navigate. Pitcher Partner’s resident FTA expert, Darryl Daisley, specifically looks at the signing of the TPP in January and how this new deal will change things for business (pg 12).

•

More details about an announcement from Icon SOC, Australia’s largest dedicated cancer care provider. They signed a milestone agreement to deliver cancer care in Vietnam which was confirmed at the Vietnam Australia Business Forum held during the ASEAN Summit in Sydney. You can read more about the agreement and Icon SOC’s growth on page 10.

•

Articles from Telstra and BlueScope, two large Australian businesses with a strong presence across the region. BlueScope gives an overview of the CEO Summit (pg 8) and Telstra looks at the focus on connectivity across the region at the ASEAN Summit (pg 7).

FOREIGN POLICY UPDATES: ASEAN -AUSTRALIA SPECIAL SUMMIT

AUSTRALIA AND ASEAN BUSINESSES TO JOIN FORCES FOR A NEW, CONNECTED SOUTHEAST ASIA

ASEAN-AUSTRALIA SPECIAL SUMMIT

ICON SOC SUPPORT A GROWING HEALTHCARE FOOTPRINT IN VIETNAM

GOLDEN ERA FOR SINGAPORE AUSTRALIA FREE TRADE

PM LEE VISIT TO THE ASEAN-AUSTRALIA BUSINESS SUMMIT

AUSTRALIA PUNCHES BELOW WEIGHT IN ASEAN REGION

LAUNCH OF THE AUSTRALIAN BUSINESS IN ASEAN SURVEY

AUSTCHAM ASEAN SHAPING DISCUSSION AT THE CEO SUMMIT

UPCOMING EVENTS

OUT & ABOUT

AUSTCHAM MEMBERSHIP TIERS

NEW MEMBERS

MEMBERSHIP CARD OFFERS

NEWSFLASH

These are just a few of the articles in this edition of Access Asia, if you couldn’t make it to the ASEAN Summit this should give you a good understanding from an Australian business perspective. There have also been a few changes here at AustCham. In March we launched a new membership structure, the first substantial change to the way we do our membership in several years. We now have 4 tiers, with the addition of the new Corporate Plus category. Corporate Plus membership is for large Australian and international companies with an Australian connection. Along with a host of other benefits the membership includes 5 nominees, and these are transferrable within the company. It gives businesses greater visibility across the chamber than individual memberships (Corporate Enterprise and Individual tiers), more flexibility and a deeper connection with the Chamber. We also welcome new Gold Corporate Member Icon SOC. They join ANZ, Australian International School, Austrade, BllueScope, CBA, James Cook University, Lendlease, NAB, QBE, Rio Tinto, Servcorp, Telstra, Toll, Treasury Wine Estates, Visy and Westpac as our flagship Australian businesses and supporters of AustCham. Thank you to each of them for their ongoing commitment to th Australian business community in Singapore. If you would like more information about our new membership tiers please contact us membership@austcham. org.sg Kate Baldock Executive Director

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Front Cover: Singapore Prime Minister Lee Hsien Loong and Australian Prime Minister Malcolm Turnbull at the ASEAN-Australia Special Summit Photo Courtesy of The Ministry of Communications and Information (MCI)

FOREIGN POLICY UPDATES

ASEAN-AUSTRALIA SPECIAL SUMMIT BRUCE GOSPER Australia’s High Commissioner to Singapore

In March, Prime Minister Turnbull hosted Southeast Asian leaders for the ASEAN-Australia Special Summit – the first leaderslevel meeting between ASEAN and Australia on Australian soil. The Summit confirmed Australia’s steadfast commitment to ASEAN, and its importance to Australia’s security and prosperity. Cooperation between Australia and ASEAN is both deep and wide-ranging. The Australian Government’s 2017 Foreign Policy White Paper reaffirmed the high priority Australia places on our support for ASEAN, as well as our bilateral relations in Southeast Asia. ASEAN is one of Australia’s top three trading partners, representing around 15 per cent of Australia’s total trade and worth more than $100 billion in 2017. In Sydney, leaders committed to strengthen our economic ties, expand trade, resist protectionism, and uphold the rules-based multilateral trading system. As Prime Minister Turnbull observed after the summit, there are no protectionists around the ASEAN-Australia table. The ASEAN-Australia Business Summit brought ASEAN and Australian businesses into the push for regional economic growth, and put the accelerator on Australia’s economic engagement with ASEAN. Events in Sydney featured: •

Discussions between the leaders of Australia and ASEAN on the key security and economic challenges facing our region

•

Women in Business breakfast with a keynote address by the CEO of Temasek Holdings, Ms Ho Ching, and

•

The ASEAN-Australia CEO Forum and SME Conference, which brought together more than 100 business leaders from Australia and across Southeast Asia to discuss the economic opportunities available to Australian and regional companies in infrastructure, advanced manufacturing and industry 4.0, agri-food supply chain logistics, digital transformation in services, future energy supply chains, and tourism destination development and aviation

•

The ASEAN-Australia Counter-Terrorism Consultations , where law enforcement and counter-terrorism officials from Australia and Southeast Asia discussed practical ways to cooperate more closely on one of the key security challenges facing our region.

In addition to meetings between leaders, CEOs, and officials, Sydney hosted a week of events celebrating the breadth of Australia’s relationship with ASEAN: •

academic and business conferences: 2018 ASEAN State of the Nation Event Series, ASEAN-Australia Dialogue: Partnering for Security and Prosperity in Uncertain Times, ASEAN 360°, Asia Society’s Chairman’s Breakfast, AusCham ASEAN and Australia-ASEAN Business Council dialogue

•

security cooperation: ASEAN-Australia Codeathan (a collaboration between financial intelligence units, banks and developers on cyber security), Digital Industry Group Incorporated Engage Forum, launch of the Practical Futures for Cyber Confidence Building in the ASEAN Region report

•

youth engagement: Australia-ASEAN Emerging Leaders Program, ASEAN-Australia Youth Forum, Dynamic Digital Citizenship Young Society Entrepreneurs in ASEAN and Australia workshop, Asia Education Foundation BRIDGE Program alumni event

•

ASEAN-Australia Young Women Football Exchange international friendly between the Australian women’s under 19 team ‘the Young Matildas’ and the Thai under 19 women’s team, and

•

art and education events: 21st Biennale of Sydney 2018, ASEAN-Australia Education Dialogue, The Long Story and Problem Wisdom exhibitions at Queensland Art Gallery and the Gallery of Modern Art Brisbane

•

a lecture on The Future of ASEAN by Dr Marty Natalegawa, former Foreign Minister of Indonesia.

•

meetings of Australian and Southeast Asian civil society organisations

Australia and ASEAN now have a busy program of work ahead of our leaders’ next meeting in Singapore later this year. We’ll be focussed on promoting economic openness and support for rules that make us more secure and more prosperous. Some specific objectives are: • • • •

developing the digital standards and regulatory frameworks needed to support trade and economic growth support for the conclusion of the Regional Comprehensive Economic Partnership (RCEP) trade negotiations more investment in infrastructure innovation and the technologies that support efficient cities closer cooperation to counter terrorism and violent extremism

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• • •

closer cooperation on maritime and cyber security challenges, combatting the spread of infectious diseases and people smuggling, and education cooperation.

INSIGHT

AUSTRALIA AND ASEAN BUSINESSES TO JOIN FORCES FOR A NEW, CONNECTED SOUTHEAST ASIA DAVID BURNS Group Managing Director of Global Services and International Telstra

The next decade will see increasing demand for a digital ready workforce across Southeast Asia and the battle for top digital talent will shape the region. Digital skills and core connectivity are essential to the region’s future economic growth and were a key focus of the recent ASEAN-Australia Special Summit.

recently announced Memorandum of Understanding to explore the establishment of a new Indonesian Global Delivery Centre through its joint venture with telkomtelstra is another example of how companies can leverage the digital talent available in the region to support business growth.

The opportunity for the region comprising the Association of Southeast Asian Nations (ASEAN) is enormous. ASEAN’s combined real GDP more than doubled in the last decade underpinned by rapid growth in consumer spending, urbanisation and the growing demand for connectivity and digital technologies. By 2030, ASEAN middle-class households are expected to more than quadruple to 161 million and a radically digitised ASEAN is predicted to unlock an additional US$1 trillion in GDP over the next decade. Long recognised as a major participant in the region, Australia is poised to play a pivotal role in helping ASEAN capture this opportunity. The first-ever ASEAN-Australia Special Summit signalled a clear affirmation of Australia’s enduring commitment to the regional bloc, and ASEAN’s growing influence in the global arena.

Australia has more trade with ASEAN than it does with the United States and Japan, and depends on the region for more than 15 percent of its total trade. It is therefore reasonable to expect on the horizon reduced red tape and further enhancements to labour mobility requirements, which would align with the initiatives resulting from the Comprehensive Strategic Partnership (CSP) between Singapore and Australia in 2016. This is further bolstered by the recently concluded TPP-11, a trade agreement which reaffirms the collective commitment towards greater trade liberalisation and regional integration, and whose parties to the deal include both Australia and Singapore. We anticipate more specifics once the negotiations for the Regional Comprehensive Economic Partnership conclude – expected to be later this year.

Australia, which has much to offer to this dynamic region, has a partner in Singapore – the bloc’s most advanced economy and the current ASEAN chair. Both benefit from mature and extensive digital infrastructure and industry connectivity. Together they have much to show by way of example to help their ASEAN counterparts harness the benefits of disruptive technologies and become a major force in the global digital economy.

Talent aside, an element critical to the growth of a digital economy, which was also a focus of discussions at the Summit, is connectivity between countries, businesses and people. Connectivity is the central nervous system of any advanced economy and increasingly so with the rise of smart city initiatives. Imagine the lost opportunities for businesses in the areas of e-commerce, education, research and innovation, if connectivity is not a priority.

One of the key goals to emerge from the Summit was developing a digital-ready workforce that’s integrated in the global marketplace. An issue for many nations worldwide, the battle for talent presents an opportunity for international partnership. Member countries committed to redouble efforts in sharing technical expertise and other capacity building measures. There are currently over 100,000 students from Southeast Asia studying at Australian universities – a number that will likely rise, especially when research shows that talent shortage is the toughest challenge on the minds of executives in this region, and a key roadblock in the region’s efforts to digitise. To meet the key goals of the Summit, this is the time for businesses across the region to build bilateral capabilities, infrastructure partnerships, digital services, and exchanges in innovation. This can be done by leveraging ongoing government support and initiatives like the New Colombo Plan, a foreign policy initiated by the Australian Government which provides study and work opportunities for Australian undergraduates to deepen their understanding of the Indo-Pacific region. Telstra’s

With mobile data traffic in the region expected to surge 11-fold by 2022, fuelled by growing adoption of 4G services and the internet of things (IoT) in Southeast Asia and Australia, network connectivity must continue to be a focus so that digital innovation can continue apace. The INDIGO cable is a prime example of the sort of regional collaboration that will help enhance connectivity and boost capacity in the region. Telstra, together with Google, Indosat Ooredoo, Singtel, SubPartners and AARNet, is building the INDIGO cable system that will connect Singapore, Indonesia and Australia. It is expected to be completed by mid-2019. The next generation cable system will also help provide greater resilience, which is important in a region that sees its share of storms and earthquakes. We expect to see improvements not just to our digital lifestyles, but also how we do business. Overall there will be incredible opportunities within the region over the next decade, but the key to realising these will be how we work together to develop a digital savvy workforce.

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ASEAN - AUSTRALIA SPECIAL SUMMIT 2018 GERRY TIDD Executive Vice President - Corporate Affairs BlueScope

To paraphrase former US President Bill Clinton’s famous campaign slogan; “It’s about the region, stupid.” That explicit message about the ASEAN region’s ambition and opportunity, emerged strongly from the first ASEAN Australia Special Summit in Sydney in March. The leaders of 9 ASEAN countries, (Philippines President Duterte was absent), spent the weekend at Darling Harbour in a series of bilateral and plenary meetings to discuss regional security, economic and trade issues. Several hundred large and small enterprise chiefs also gathered in a parallel business event organised by Australia’s Departments of Foreign Affairs and Prime Minister & Cabinet. All were focused on the major trade and industry growth opportunities – crucial issues to AustCham members across the region. The obvious starting point of the discussions was that the region is transforming at an unprecedented scale and pace. ASEAN’s combined GDP is forecast to grow by 5.2 per cent per year over the next five years, outpacing the average world growth forecast of 3.7 per cent. Delegates heard that global macro forces are reshaping the way businesses operate; as new technologies disrupt established markets, populations rapidly urbanise and the demand for greater sustainability gathers pace. ASEAN and Australian businesses need access to capital, resources, technology and an innovative workforce that can deal with rapid change. Governments must invest in fit-for-purpose infrastructure, human capital and research and development. And jointly we must recognise the dislocation caused by digital disruption, plan for its transition, and manage the social costs. If governments create and maintain the economic/trade/regulatory environments for businesses to succeed, then big businesses in particular, must in turn, act as stewards. They should work with all stakeholders on sustainable business practices. For example, creating opportunities for smaller business in supply chains and contributing to technology and skills development. The Summit also spotlighted the importance of including women’s participation in today’s workforce and equipping all our people for jobs of the future. Delegates learned that to succeed, the region must make the most of its comparative advantages, increase cooperation between

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governments, and boost collaboration and cross-border investment. All in ASEAN and Australia must support free and fair trade through open markets. Our prosperity is increasingly built on regional and global value chains, relying on the free and fair movement of goods, services, people and capital across borders. In our region, the development of the ASEAN Economic Community and the ASEAN-Australia-New Zealand Free Trade Agreement underscore our countries’ commitment to improving trade and investment. A priority is to ensure we maintain a positive climate where businesses thrive. This included a commitment from business for closer collaboration with governments and with education and research institutions to help communities transition through the period of rapid growth and the new digital economy.

The Business Summit was comprised of three events that ran alongside the bilateral and multilateral government meetings •

a Women in Business Breakfast to reinforce the important message that women’s economic empowerment underpins future regional prosperity;

•

an SME Conference to provide practical information, advice and anecdotes about how to succeed in business across the region; and

•

a CEO Forum to harness big business expertise on topics vital to deepening economic integration.

Attendees at the Women in Business Breakfast heard a number of inspiring stories from women entrepreneurs in ASEAN. They included Pathana Panyathip, the owner and co-founder of the Panyathip School in Laos. Ms Panyathip – who did not have a background in education – established the school from scratch, in part to ensure her daughter had access to comprehensive schooling. The Panyathip International School now has over 1,000 students, from kindergarten to secondary level, at multiple campuses. At the SME Conference hundreds of Australian small-and-mediumsized enterprises (SMEs) heard the Prime Minister of Australia, the Hon. Malcolm Turnbull MP and the Prime Minister of Singapore, His Excellency Lee Hsien Loong, emphasising the role SMEs play, not only as a driving force of growth, but of innovation. Both leaders

articulated a vision for open trade and integrated markets, as a precondition for regional prosperity and opportunity. The CEO Forum brought over 120 CEOs and business leaders together to discuss mutual understanding, greater collaboration on technology development and increasing investment flows between ASEAN and Australia. Delegates held roundtable discussions on six sectors: tourism destination development and aviation; agri-food supply chain logistics; future energy supply chains; digital transformation in services; advanced manufacturing and industry 4.0; and infrastructure. Throughout the weekend event, there was an atmosphere of intense work and interaction. Both the SME Conference and CEO Forum provided extensive opportunities for networking between small, medium and large businesses from the ten ASEAN nations and Australia. The key recommendations from all these sessions were presented to all 9 national leaders at the official ASEAN-Australia Summit, by two officially appointed CEO “rapporteurs”; Mark Vassella, MD & CEO of Australia’s largest steelmaker BlueScope, and Ms Chua Sock Koong, Group Chief Executive Officer, Singtel. FAST FACTS • ASEAN was equivalent to the fifth largest economy in the world in 2017 - worth around US$2.7tn. It’s on track to become equivalent to the world’s fourth largest economy by 2030. •

ASEAN was one of Australia’s top three trading partners in 2016-17, accounting for 11 per cent of Australia’s exports and 16 per cent of imports.

Infrastructure and investment Delegates identified infrastructure and investment deficits in a range of sectors, and the contribution the private sector can make in improving infrastructure productivity. Delegates highlighted the need to include ‘soft infrastructure’ that enhances digital connectivity. Sustainable business, inclusive growth Businesses and governments need to consider the implications of growth on communities. Regulatory frameworks Restrictive regulatory frameworks across borders impede growth and collaboration. Delegates highlighted the benefits of lifting restrictions, particularly in the areas of foreign ownership and investment; and the benefits of developing, adopting and using international standards where possible. SUMMIT SURPRISE A delightful surprise of the three-day event, was the clever and colourful speech by Indonesian President Joko Widowo, at the CEO forum lunch. Delivered in English, he drew laughs and great applause for calling on traditional dry and conservative politicians to change their ways, and to better engage with their communities by thinking more “Netflix” than “politix”! Gerry Tidd, Executive Vice President - Corporate Affairs from BlueScope attended the ASEAN-Australia CEO Business Summit in Sydney in March.

ASEAN’s combined GDP is forecast to grow by 5.2 per cent per year over the next five years, outpacing the average world growth forecast of 3.7 per cent.

KEY TAKE-OUTS Skills and technology ASEAN and Australia need to continue to boost the talent pool and uptake of new technology to unlock the massive productivity gains that will come from digitisation and automation of industrial and services sectors.

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ICON SOC TO SUPPORT A GROWING HEALTHCARE FOOTPRINT IN VIETNAM TEENA PISAREV CEO Icon SOC Singapore

Icon Group, Australia’s largest dedicated cancer care provider with a growing footprint in Asia, has signed a milestone agreement to deliver cancer care in Vietnam. The agreement comes only eighteen months after Icon’s acquisition of Singapore Oncology Consultants (SOC) to form Icon SOC. This has seen a successful marriage of Icon’s extensive cancer network with SOC’s expertise as the forefathers of oncology care in Singapore. The agreement in Vietnam will see Icon’s Australian and Singaporean cohorts support increased access to comprehensive cancer care for the Vietnamese people, closer to home. It was confirmed on 16th March, when Vietnamese Prime Minister, His Excellency Mr Nguyen Xuan Phuc, met with Icon Group at the Vietnam-Australia Business Forum held during the recent ASEAN summit in Sydney. Icon Group is delivering an ambitious growth profile in Australasian healthcare, with Vietnam and China key focus areas. These agreements mark a significant milestone in Icon Group’s vision to make an impact on global cancer. Vietnam’s healthcare system is under intense pressure. Hospital overcrowding is already a significant issue with facilities in Ho Chi Minh and Hanoi unable to serve both local and provincial patients. While the total budget for the health sector has increased - spending on private healthcare grew 241% over the past decade - the Vietnamese healthcare system cannot keep up with the demand for medical services. According to the World Health Organization, there are only an average of 7 to 8 healthcare workers and 25 hospital beds for every 10,000 Vietnamese citizens. Icon Group will collaborate with two of Vietnam’s leading healthcare providers – The National Cancer Hospital in Hanoi (the K Hospital) and the Military 175 Hospital in Ho Chi Minh City. The MoUs aim to strengthen these healthcare providers’ ability to deliver international standard cancer care and treatments in Vietnam. This will see them collaborating with Icon Group to access skills and capabilities in large scale cancer care infrastructure, an international standard of medical excellence and the use of innovative technologies to deliver remote care. This will build off Icon SOC’s current commitment to cancer care in Vietnam via our doctor-led satellite clinics. Our team is focused on identifying the challenges and approach to implementing international standards for cancer care and treatment in Vietnam. This will in turn enhance the capacity, quality and effectiveness of treatment, while stabilising the cost of treatment via the input of remote technologies and expertise.

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Experts from Icon Group’s Australian and Singaporean businesses will be critical in supporting Vietnamese health providers to meet demand while building local capacity for the future. The signing was a centrepiece of the Vietnam-Australia Business Forum and an example of an emerging trend of healthcare trade across the region. It follows deals by Australian energy and transport industries within the rapidly growing economies of ASEAN countries. A SNAPSHOT OF VIETNAMESE HEALTHCARE

• Vietnam’s healthcare system is being challenged to meet the growing needs for chronic illness management in an ageing population. • Most hospitals are outdated and face chronic overcrowding. Hospitals in major cities like Ho Chi Minh and Hanoi often do not have the capacity to serve both local and provincial patients. • The total budget for the health sector has increased – spending on private healthcare grew 241% over the past decade – and healthcare spending now accounts for 7.2% of Vietnam’s GDP. This is the highest in the ASEAN region. • The Vietnamese healthcare system cannot keep up with the demand for medical services. According to the World Health Organization [WHO], there are only an average of 7 to 8 healthcare workers and 25 hospital beds for every 10,000 Vietnamese citizens. • A shortage of qualified medical staff is common. • Vietnam’s government has made plans to enhance the healthcare workforce by 2020. These plans include strengthening regulatory practices, increased autonomy for public hospitals and incentives for the private sector. • According to WHO, in the year 2000, an estimated 68,000 cancer cases were reported in Vietnam, and the number of new diagnoses is expected to almost triple to 190,000 in 2020. • Many patients arrive with later staged cancer due to the lack of screening availability and current cultural understanding across Vietnam. • Cancer control infrastructure in Vietnam is still limited although the development of Cancer Control Network from 2011–2020, was approved by the Ministry of Health to raise awareness among the people in the community about the screening and early detection of preventable cancers, improving the knowledge of healthcare staff, and strengthening cancer surveillance and registries. • The National Cancer Control Plan (NCCP) was started in 2008 and aims to provide effective diagnosis and treatment. The goals are to build up the cancer workforce and infrastructure with improvements in the quantity and quality of medical staff in cancer control as well as cancer treatment facilities.

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GOLDEN ERA FOR SINGAPORE - AUSTRALIA FREE TRADE DARRYL DAISLEY Director Pitcher Partners

With the signing of the Trans-Pacific Partnership in January, the strong relationship between Australia and Singapore (as well as other trading partners in our region) is confirmed. But given we already have a free trade agreement with Singapore, will the new deal really change things? IT’S USEFUL TO CONSIDER SOME BACKGROUND. The Singapore-Australia Free Trade Agreement (SAFTA) is a central pillar of the economic relationship with Singapore, Australia’s largest trade and investment partner in South-East Asia. SAFTA entered into force on 28 July, 2003, and achieved a number of things. Firstly, it saw elimination of tariffs on all goods. It increased market access for Australian exporters of services, particularly education, environmental, telecommunications, and professional services. It also provided for a more open and predictable business environment across a range of areas. This has meant increased certainty for the past 15 years around some of the key drivers for business investment: competition policy, government procurement, intellectual property, e-commerce, customs procedures and business travel. SAFTA was an excellent start, and in 2015 the Australia-Singapore Comprehensive Strategic Partnership provided an impetus to modernise the agreement. Known as the third review of the agreement, this comprehensive update increased market access, with new rules that provided greater certainty for exporters of goods, services and investment. Services make up about a third of Australia’s exports to Singapore, so these changes are likely to improve opportunities including through the mutual recognition of standards, recognition of professional qualifications and reduced red tape. New visa arrangements will also make it easier for Singaporeans to stay and work in Australia and for some categories of Australian workers moving to Singapore, with the goal of increasing the flow of skilled labour and visitors between the two countries. This agreement to amend SAFTA was signed on 13 October, 2016, and entered into force on 1 December, 2017. Fast forward to March 8, 2018, and we now have the Trans Pacific Partnership as well. WHAT DOES THE NEW DEAL INCLUDE? After the TPP appeared to fall over last year when the US pulled out of negotiations, on March 8 the Comprehensive and Progressive Trans-Pacific Partnership (also known as CPTPP or TPP11, for the eleven nations that are signatories) rose from the ashes. Australia and Singapore are joined by Japan, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru and Vietnam as parties to the deal, which will take effect once it is ratified by at least six countries. 12 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

The agreement incorporates most of the elements of the original TPP agreement negotiated in 2016 and 2017 — but a limited number of provisions that had been inserted by the US have been suspended. Tariffs schedules represent a major change, with custom duties on 95 per cent of trade in goods to be removed in the long run. It also includes commitments to improve agreements on textiles, technical barriers to trade and sanitary and phytosanitary measures, competition, state-owned enterprises, SMEs, labour and dispute settlements. Overall, the 11 countries covered by the CPTPP cover about 14 per cent of the global GDP (though it would have been 40 per cent with the US included). The new deal affects the livelihoods of half a billion people and is estimated to have a net benefit for members of about 0.3 per cent of their combined GDP, or around $40 billion. WHAT DOES THE CPTPP MEAN FOR AUSTRALIA AND SINGAPORE? Both sides have welcomed the signing of the CPTPP. In late January, Singapore’s Minister for Trade and Industry (Trade) Lim Hng Kiang said the country was pleased by the positive outcome on the agreement. He said Singaporean companies would stand to gain from a substantial elimination of tariffs and non-tariff barriers for goods, improved access for service suppliers, greater facilitation of investments, and improved access to government procurement contracts. The CPTPP would give Singapore (as well as Australia) an estimated market of 500 million people with a combined output of more than $10 trillion. The Australian Government is similarly enthused. For Australia, the agreement ensures that the substantial market access package secured in the original TPP have been maintained (including those covering goods and services market openings and commitments on regulations on foreign investment). This should deliver major new opportunities for Australian exporters, investors and firms engaged in international business. As with Singapore, the scope of potential markets for Australian businesses is now vast, and by being part of a multi-cornered agreement, trade deals that involve several national partners can be expedited. HOW WILL THE CPTPP IMPACT AUSTRALIAN EXPORTERS? Although tariffs in our relationship with Singapore were already eliminated by SAFTA, the CPTPP eliminates a much broader range of tariffs in the free trade area. Highlights from an Australian perspective include: • •

new reductions in Japan’s tariffs on beef (a market worth $2.1 billion to Australian exporters in 2016-17); new access for dairy products into Japan, Canada and Mexico, including the elimination of a range of cheese tariffs into Japan (a market estimated at $100 million);

• • • • •

new sugar access into the Japanese, Canadian and Mexican markets; tariff reductions, and new access for cereals and grains exporters into Japan, including, for the first time in 20 years, new access for rice products into Japan; elimination of all tariffs on sheep meat, cotton and wool; elimination of tariffs on seafood, horticulture and wine; and elimination of all tariffs on industrial products (manufactured goods)

For Australian service businesses, it will also make it easier to engage internationally. This includes: • •

•

legal, architectural, engineering and surveying services, which will be legally guaranteed and enforceable; energy sector reforms in Mexico and Vietnam, which will help mining equipment services and technologies and oilfield service providers, as well as new rules on large State-owned enterprises, which will help Australian providers to compete on an equal footing; financial services companies, which can now provide cross-border services such as investment advice and portfolio management services and insurance of risks relating to maritime shipping and international commercial aviation and freight.

For the most part, however, the real benefits of the CPTPP for Australia and Singapore lie outside their existing bilateral relationship, and in the opening up of other markets in the region. HOW SOON WILL AUSTRALIA BEGIN TO EXPERIENCE THE BENEFITS OF CPTPP AND THE UPDATED SAFTA? The Australian Government tabled the text of the CPTPP, side letters, and accompanying National Interest Analysis in the Australian Parliament on 26 March, 2018. The Joint Standing Committee on Treaties has invited submissions and will make findings after this. There’s an expectation that the FTA will be in force by the end of 2018. In the meantime, the updated SAFTA is already enhancing the relationship between Singapore and Australia. These changes include things such as explicit safeguards protecting the rights of both governments to regulate in the public interest — an issue that has been a key point of contention in the public discussion of free trade and the CPTPP. For example, the updated SAFTA states that governments have an inherent right to regulate to protect public welfare, including in the areas of health and the environment. Even if government action in this area is inconsistent with the expectations of an investor, that would not be grounds for a challenge. Some things specifically cannot be challenged, including tobacco control measures, Australia’s Pharmaceutical Benefits Scheme, Medicare Benefits Scheme and Therapeutic Goods Administration. For business people, the updated SAFTA allows Australians to enjoy: • • • •

longer lengths of stay for independent executives, contractual service suppliers and their families (up from three months to two years);   longer lengths of stay for intra-corporate transferees and their families (up from two years to three years); certainty on entry and length of stay for installers and servicers of machinery and equipment; and access to a help desk and streamlined processes to facilitate temporary entry and work permits for Australian business people.

For goods exporters, the updated agreement will mean clearer information available on the Rules of Origin for Australian goods. A new chapter will include a full schedule of product-specific rules of origin, and the agreement will introduce a self-certification process, meaning an importer, exporter or producer can self-certify that the good meets the applicable rule of origin for the good.

SO, WHAT ARE THE OPPORTUNITIES THAT LIE AHEAD? Singapore is Australia’s 10th largest market for food and 7th largest for wine, but Australia is ranked a distant 21 on Singapore’s list of importers. A key message that arises from both the updated SAFTA and the CPTPP is that Australian businesses can improve their access to Singaporean markets and investments. Some of the areas that are likely to see an improvement include professional services, which will benefit from the improved length of stay rules outlined above. SAFTA will also provide greater certainty for Australian lawyers and law firms operating in Singapore, including the ability for Australian lawyers to practise Singaporean law and to work in international commercial arbitration. Future market reforms in Singapore’s legal sector will automatically become SAFTA commitments, putting Australians on an equal footing with their foreign competitors.For the financial services sector, the opportunity to provide a range of financial services on a cross- border basis will also represent a significant step forward. Australia’s world-class education exports are already an important part of our trade with Singapore. SAFTA will further enhance these thanks to increased recognition of Australian tertiary qualifications. For example, the recognition of Juris Doctor degrees within Australian universities makes the University of Western Australia’s legal education a more saleable offering to Singaporean students, as does the growing range of allied health degrees that will now also be recognised. Finally, for any business engaging in cross-border trade, improvements to e-commerce and telecommunications commitments will help. There are greater commitments on the free flow of data across borders and agreements not to impose duties on digital products. Consumers will also benefit from a mechanism to promote transparent and reasonable rates for international mobile roaming services, and commitments to protect privacy and consumer rights. In short, Australia’s free trade relationship with Singapore may extend more than 15 years, but we are entering a golden era for our crossborder co-operation. CASE STUDY: WHY UNDERSTANDING FREE TRADE AGREEMENTS MATTERS Australian Company X specialised in the development of laser safety devices, selling predominantly to Asian clients on what is known as an ex-works basis. In this case, the buyer collected the goods from Company X’s warehouse in Australia, and then arranged shipment themselves, as well as exports and imports clearances. This process had problems. The Asian sales generally incurred import duty on delivery for the buyer into their home country. This increased the price paid by end users and made Company X less internationally competitive. Company X was made aware of the ability to issue Free Trade Agreement compliant paperwork for Asian sales, including those to Singapore, covered by an FTA such as SAFTA. This meant that for a minor additional administration cost, the commercial documentation was now FTA compliant and Asian buyers received significant import duty savings. From paying a 4-5 per cent duty, this was reduced to zero, saving the buyer money, making Company X more competitive, and providing excellent after-sales service.

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PM LEE VISIT TO THE ASEAN-AUSTRALIA BUSINESS SUMMIT On 16 March 2018, Australia welcomed 9 ASEAN members states leaders and the Secretary-General of ASEAN to its first ASEANAustralia Special Summit held in Sydney. Prime Minister Lee Hsien Loong attended the ASEAN-Australia Special Summit where as ASEAN Chair, he co-chaired the Special Summit with Australian Prime Minister Malcolm Turnbull. It was an historic opportunity for regional business leaders to help shape and strengthen ASEAN and Australia trade and investment links. The SME Conference covered topics on opportunities and development of SMEs and their business networks and overseas markets. Regional specialists, business leaders and successful exporters from diverse industry, government and business backgrounds were brought together to share their knowledge and insights on the ASEAN-Australia trade relationship. Read PM Lee’s opening remarks at the SME Conference at the ASEAN-Australia Business Summit Thank you, Prime Minister Turnbull. Ladies and gentlemen, it is my great pleasure to join you today at the ASEAN-Australia Business Summit’s Small and Medium-sized Enterprises (SME) Conference. The topics of this Conference, which Prime Minister Turnbull has just outlined, highlight our shared interest in the development of SMEs and their business networks and overseas markets. Shared Strategic Interests, Complementary Economies SMEs are an important part of the economy of many countries. They are an engine of growth, especially in rapidly developing economies, like in ASEAN, where SMEs already account for between one third to half of the GDP of the countries, and contribute up to a third of the exports. SMEs are also a source of jobs, accounting for at least half of total employment in ASEAN countries. But more importantly, as Prime Minister Turnbull pointed out, SMEs are engines of innovation. They embody the spirit of enterprise. Many SMEs begin life as start-ups, before scaling up into market leaders. Successful SMEs often venture overseas, braving new challenges in search of fresh markets and opportunities. That is why many governments today are focussed on helping SMEs grow. They support them with targeted schemes and resources. They provide them with the right environment, institutions and programmes. And they help SMEs enter new markets, and develop and adopt new technologies. For example, in Singapore, we have grant schemes and programmes to encourage SMEs to improve their productivity and capabilities, and to form partnerships, both locally and abroad.

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And we support our SMEs to internationalise and to seize opportunities overseas. To do so, we operate nine “Singapore Centres” in major cities around the world. These are points of contact for Singapore-based companies seeking to enter the specific market, providing them with information and plugging them into business networks there. Our approach is to promote entrepreneurship in Singapore. They can be Singapore entrepreneurs, or they can come from other parts of the world, but have decided that they want to base in Singapore and take advantage of Singapore – our facilities, resources, opportunities, networks and also the support which the Government will give in order to help them to thrive and prosper. Australia has a similar programme, you have the Landing Pad programme, which has five centres in different countries, including one set up in Singapore. The Landing Pads bring together startups, research institutions, multinational corporations and leading technology players to create opportunities for investment, mentorship and partnership. The Landing Pad in Singapore has been quite successful, and is already incubating its fourth cohort of companies, more than a dozen in all. ASEAN SME Development At the ASEAN level, SME development is a key focus of our economic cooperation. ASEAN is currently implementing a ten-year Strategic Action Plan for SME Development. The recent initiatives include setting up an ASEAN SME Online Academy to offer business training courses. Last year, together with the ASEAN Business Advisory Council, ASEAN established a mentorship network to help SME leaders to grow and develop. It makes sense for our SMEs to thrive, prosper and extend beyond the region, including to Australia. And it makes sense for Australian SMEs to come and to do business in ASEAN. ASEAN’s Market Potential First, ASEAN’s economic fundamentals are strong, and the prospects for growth are good. ASEAN is a large and growing single market of more than 600 million people, which should become the fourthlargest in the world by 2030. Prime Minister Turnbull said it is already the sixth largest, but relatively speaking, we will grow even larger. Income is also growing in ASEAN countries. By 2020, by the end of this decade, ASEAN’s annual consumer spending could reach US$2.3 trillion. According to the Asian Development Bank (ADB), by 2030, just over a decade from now, the middle class in Southeast Asia is expected to make up two thirds of the population. Secondly, ASEAN is enjoying a demographic dividend, with more than 60 per cent of its population under 35 years old. This means a steady workforce and a growing consumer market in coming years.

And it will be an important driver of the region’s future prosperity. Thirdly, ASEAN continues to work towards regional economic integration. The global mood may be moving in the other direction, but within ASEAN, in South East Asia, we are trying our best to strive forward to deepen integration, deepen interdependence, work together, to trade, open up markets and co-prosper together. Since the formation of the ASEAN Economic Community (AEC) in 2015, we have lowered entry barriers and reduced transaction costs for businesses. We also have a comprehensive, high-quality ASEANAustralia-New Zealand Free Trade Agreement (AANZFTA), which is ASEAN’s most progressive FTA. These initiatives are important and useful to businesses seeking to enter or grow their presence in ASEAN markets and beyond. Digital Economy One particular area of opportunity is the growing digital economy in ASEAN. Prime Minister Turnbull also spoke about this just now. It is still in its infancy, but it is rapidly becoming bigger, and it is very vibrant. Last year, Southeast Asian start-ups attracted a record US$8 billion from investors; these start-ups include Grab, Go-Jek, and Sea, which have quickly become household names. There is a vibrant scene of innovative start-ups, venture capital platforms and business opportunities in many ASEAN countries. Singapore itself has welcomed a number of tech accelerators such as Telstra’s Muru-D, Gemstar Technology and Collective Campus from Australia, which you may be familiar with.

Closing So I would like to thank the Australian Government and particularly the Prime Minister for organising this event. I am confident that SMEs have a promising outlook in Australia, as in ASEAN. The combined efforts of businesses, industries, governments and partners will allow us to seize the growing opportunities in our region and make this a productive, prosperous, and a successful business environment for businesses and our peoples. I wish you all a productive and successful conference. Thank you very much. CONTENT THANKS TO

Prime Minister’s Office Singapore

ASEAN-Australia Digital Standards Cooperation Initiative This year, Singapore is chairing ASEAN. During our Chairmanship, ASEAN is pursuing an Agreement on E-Commerce. In order to streamline the different regulatory systems across ASEAN countries, and to make electronic transactions safer and more convenient. In this context, we warmly welcome the ASEAN-Australia Digital Standards Cooperation Initiative, which Prime Minister Turnbull has just announced. It is a very good first step in developing interoperable digital standards, which will facilitate trade and reduce costs for businesses, particularly for SMEs.

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AUSTRALIA PUNCHES BELOW WEIGHT IN ASEAN REGION DR. FRASER THOMPSON President of AustCham ASEAN Director of AlphaBeta in Singapore

With all the recent focus on the tariffs being imposed by the United States and the continued fallout from Brexit, one important event closer to home risks being overlooked. This week in Sydney, Australia will be hosting the ASEAN-Australia Special Summit, featuring the Heads of State from the majority of the ASEAN Member States (as well as senior leaders from the Australian government, including the Prime Minister), over 120 CEOs from ASEAN and Australia, and around 500 Australian SMEs. They will meetto discuss how we can strengthen the economic, political, and people-to-people linkages between Australia and ASEAN. The Association of Southeast Asian Nations (ASEAN) encompasses Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam— a region which is already the world’s fifth-largest economy and is currently pursuing an ambitious vision for economic integration. This is not a new “BRIC” – that is, some kind of clever acronym invented to link disparate countries together - but rather the ASEAN Economic Community (AEC) aims to create closer economic linkages between the 10 Member States. There has been tangible progress in areas such as eliminating tariffs and FDI restrictions in many sectors. If leaders succeed in dismantling other types of barriers that hinder the movement of goods, services, capital, and skilled workers across its borders, ASEAN stands to benefit further. To get a sense of why this matters for Australian firms, consider these numbers. More than 90 million people are expected to move to cities across ASEAN by 2030, creating not only new markets for consumer products, but also for real estate and infrastructure. Some US$7 trillion in investment in infrastructure, housing, and commercial space will also be needed by 2030 in the region – equivalent to roughly five times the current size of Australia’s economy – creating large new opportunities for Australian construction firms and property developers. ASEAN also represents the world’s third largest workforce, and there will be increasing demand for skills training, providing tremendous opportunities for Australian education institutions, such as James Cook University. ASEAN is also the world’s largest market of Facebook users and Jakarta is the twitter capital of the world. This technological revolution creates tremendous opportunities for Australian companies across multiple sectors, including telecommunications, education, healthcare, and e-commerce. Seeking to tap into this innovation pipeline, Telstra has launched an accelerator program for technology startups in Southeast Asia called muru-D. There are big opportunities in tourism. As a collective, ASEAN is now Australia’s largest source of visitors (with over 1.3 million visitors in 2016-17). There are also great opportunities in other sectors, from healthcare to logistics.

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So are Australian companies taking advantage of this opportunity? The short answer is no. While leading Australian companies like Linfox, Blackmores, Cochlear, Lend Lease, Woodside, Telstra, and Visy that are active in ASEAN, Australia is still batting well below its economic weight in the region. Australian companies currently invest around 60 per cent more in New Zealand than they do in ASEAN, though the New Zealand economy is less than one-twelfth the size of ASEAN. The numbers are also seen in the lack of usage of available Free Trade Agreements. More than 40 per cent of survey respondents to AustCham ASEAN’s 2017 survey of Australian firms operating in the region said they lacked information about how to effectively utilize the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA). This week’s summit will play an important part in helping focus Australian business attention on ASEAN. The CEO Summit will focus on five particular opportunity areas: tourism; agribusiness; digital technologies; energy; and infrastructure. AustCham ASEAN, the peak representative body of Australian business in the region, has conducted a series of business roundtables and an extensive survey of Australian and ASEAN firms to understand how we could deepen commercial linkages in each of these areas. The good news is that 87 per cent of Australian businesses surveyed plan to increase their trade and investment in ASEAN over the next five years. The priorities for deepening economic relationships differ considerably by sector, but include the development of a database of ASEAN infrastructure projects to bring transparency to firms on potential opportunities, creating harmonised approaches to cross-border data regulation which protect privacy but do not impinge on potential economic applications, addressing non-tariff barriers to agricultural trade, and establishing new forums in areas such as sustainable urbanisation where Australian firms can engage with ASEAN member states on how to address their key concerns. Whilst ASEAN is not without its risks, a greater risk for Australian companies could be having a ringside seat on a major economic transformation without being at the heart of the changes.

Article first published in Australian Financial Review on March 9 2018.

LAUNCH OF THE AUSTRALIAN BUSINESS IN ASEAN SURVEY AustCham ASEAN

The Australia-ASEAN Chamber of Commerce (AustCham ASEAN) launched their 2018 Annual Business Survey at a Sydney event in partnership with the NSW Government, ANZ, James Cook University, and Linfox. The event coincided with the Prime Ministers ASEAN-Australia Special Summit for which leaders from across ASEAN attended. The Summit also gathered regional business leaders in a CEO Forum to discuss key policy issues in the region. The survey found that Australian businesses continue to make a strong economic contribution across ASEAN and are generally positive about their ability to prosper in the region. Among the key findings: •

•

Australian firms are bullish about the region. About 87 per cent of Australian firms state they plan to increase their trade and/or investment in ASEAN over the next five years, and 44 per cent say they plan to increase their presence significantly. Compared with the results of our 2016 survey, the share of Australian firms planning to increase their presence significantly has almost doubled. Three main factors are attracting Australian businesses to ASEAN. While the growing consuming class in ASEAN is the most important factor for Australian businesses looking to invest or trade with ASEAN Member States, the prospect of greater ASEAN economic integration is also a significant driver for the strong business desire to invest more in the region. Infrastructure improvements rank as the third major reason for a planned expansion, accounting for almost 30 per cent of responses. E-commerce opportunities, included for the first time in this survey, count for almost one-quarter of firms as a top-three driver to increase investment in ASEAN. Barriers remain to deepening Australian business engagement in ASEAN. Corruption, restrictions on ownership and investment, and access to skilled labour rank as the top three issues for Australian firms. Many Australian businesses also say they require further information about ASEAN markets, most notably, Vietnam, Myanmar, Malaysia and Thailand. Interestingly, currency volatility – a common concern in the region since the Asian Financial Crisis in the late 1990s – is no longer seen as a major issue, reflecting the growing macroeconomic stability in the region. Australian and ASEAN businesses identified a range of opportunities to deepen collaboration in five areas. The survey unearthed several specific opportunities that Australian and ASEAN businesses consider worth exploring to deepen the collaboration in the five thematic areas of the CEO Summit taking place during the ASEAN-Australia Special Summit:

(1) Tourism destination development and aviation; (2) Preparing for the digital transformation and Industry 4.0; (3) Agri-food and supply chain logistics; (4) Future energy and supply chains; and (5) Infrastructure.

Some hurdles exist that may prevent some firms from fully harnessing these opportunities. However, the good news is that surveyed firms have identified practical ways to overcome these hurdles. “ASEAN is the fifth largest economy and the second largest recipient of Foreign Direct Investment in the world” commented Dr. Fraser Thompson, President of AustCham ASEAN. “This year’s survey demonstrates that Australian business are starting to realise the scale of potential opportunities that exist, and ASEAN is no longer the ‘forgotten Asia’”. “The results from the survey make for an interesting read” added Dr. Thompson. “While businesses see broad opportunities for deepening the Australia-ASEAN collaboration, they also list a number of practical barriers – from information gaps to restrictions on ownership and service offerings. The ASEAN-Australia Special Summit represents a tremendous opportunity to highlight the opportunities in ASEAN for Australian businesses, and the role of AustCham ASEAN will be to help ensure that the progress made during the Summit translates into meaningful change in Australia’s engagement in this dynamic region.” The Australia-ASEAN Chamber of Commerce (AustCham ASEAN) was officially launched by the Australian Prime Minister, the Hon Malcolm Turnbull MP, on Saturday June 3 2017. AustCham ASEAN is a ‘chamber of chambers’ with its membership base the officially registered Australian chambers and business councils from across ASEAN. The organisation is a registered society in Singapore with the following Foundation Members: • The Australian Chamber of Commerce, Cambodia, • Indonesia Australia Business Council, • The Australia Chamber of Commerce Lao PDR, • Malaysia-Australia Business Council, • The Australia-New Zealand Chamber of Commerce (Philippines) Inc, • Australian Chamber of Commerce, Singapore, • Australian-Thai Chamber of Commerce, • The Australian Chamber of Commerce in Vietnam AustCham ASEAN aims to deepen Australian business engagement with ASEAN by (1) Informing Australian business on regional integration developments and the business landscape; (2) Explaining the contribution of Australian business to ASEAN markets; and (3) Advocating for policies, rules and regulations that support Australian business activities in ASEAN To learn more visit www.austchamasean.com.

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AUSTCHAM ASEAN SHAPING DISCUSSION AT THE CEO SUMMIT

The Australia-ASEAN Chamber of Commerce (AustCham ASEAN) organised a series of business roundtables and individual discussions with Australian business in support of the CEO Summit which was held during the ASEAN-Australia Special Summit in Sydney in March 2018. The CEO Summit focussed on 5 thematic areas of identified opportunity between Australia and ASEAN. The roundtables included senior Australian and ASEAN business leaders and aimed to help shape the content of the discussions during the Summit. This document provides an overview of the insights received from these discussions in key areas of interest. In order to preserve confidentiality, no names of companies or individuals are attributed to this input.

TOURISM DESTINATION DEVELOPMENT AND AVIATION The Opportunity

The Challenges

• Growth of the consumer class in ASEAN • Rise of low cost airlines • Increased tourism opportunities - flights/cruises throughout Asia • Relaxation of visa restrictions

• Lack of skilled workers in ASEAN • Aviation and port infrastructure gaps • Cost and complexity of travel visa • Foreign direc investment in hospitality and aviation restrictions • Gaps in the single aviation market

Potential actions to address the challenges and capture the opportunity Prioritise the development of the ASEAN (tourism)

The ASEAN Connectivity Master Plan 2025 has called for the establishment of a comprehensive online database listing all ASEAN infrastructure projects (including ports and airports) and key investor information, such as project size and key contact persons. There is a potential opportunity for Australia to support the development of this database, and to encourage the inclusion of infrastructure projects relevant to the Australian tourism industry.

Address FDI and other restrictions

Tourism operators and related service providers in both Australia and ASEAN stand to benefit from infrastructure improvements, higher destination quality and increased labour mobility – factors that support the growth of the regional tourism and aviation industries. Australia’s Free Trade Agreements offer scope for a closer cooperation on aviation and tourism destination development.

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Establish an ASEAN and

Cruises are an area of recent growth and offer largely untapped potential for ASEAN’s tourism industry. ASEAN Tourism Ministers recently committed to turning Southeast Asia into a “vibrant cruising destination”. A number of countries is already taking concrete steps by developing ports and streamlining immigration processes.

Create an ASEANAustralia single visa.

Australia could serve as a pilot country for a single online visa that would allow tourists in ASEAN free travel across the region. Further opportunities exist for Australian tourism authorities to support ASEAN as a single point for applying for tourism visas.

PREPARING FOR DIGITAL TRANSFORMATION AND INDUSTRY 4.0 The Opportunities

The Challenges

• Digital transformation • Rapid growth of internet users driving digital innovation potential • Rise of E-commerce

• Limited internet access • Data sharing and online privacy • Low adoption rates by MSMEs • Nascent development of open data • Cybersecurity

Potential actions to address the challenges and capture the opportunity

Create a digital marketplace for Australian and ASEAN SMEs

ASEAN data sharing network.

Australian-ASEAN “hackathon”

Firms surveyed see an opportunity to expand the existing ASEAN SME portal to include issues such as business expansion and technology adoption.

The ASEAN Connectivity Master Plan 2025 has called for the creation of an ASEAN digital data governance framework to support the harmonisation of crossborder data regulation. There is an opportunity for Australia to support the development of this important framework and help to identify practical ways for the sharing of non-sensitive across Australia and ASEAN. The ASEAN Connectivity Master Plan 2025 calls for the creation of an “ASEAN open data dictionary” as a publicly available online source. Such a dictionary would include data sets and related information, including on the collection and calculation method, frequency of collection, and responsible agencies. As ASEAN develops this initiative, Australia could contribute its open data expertise and work with ASEAN Member States to create “hackathons” with the goal of educating MSMEs on the best ways to use

Cybersecurity

Australia has developed a new industry growth centre focused on capturing the growth opportunities associated with cybersecurity. There is an opportunity for Australia to export its expertise and support ASEAN Member States in their efforts to develop effective cybersecurity strategies and foster innovation.

Financial inclusion framework

The ASEAN Connectivity Master Plan 2025 calls for the creation of a digital financial inclusion framework. The goal of such a framework would be to outline the elements of a successful digital financial inclusion scheme by drawing on existing best practice, recommendations, and expertise. Components of this framework could cover backbone infrastructure (such as biometrics, income proof, and digital records), regulatory support (including regulations for new financialservices players and consumer protection for digital financial services), and usage enhancement (such as government e-invoicing, and online tax or welfare payments).

Australia-ASEAN collaboration

Many smaller firms face difficulties when trying to enter new markets. There is a potential opportunity for larger firms in ASEAN and Australia to collaborate with SMEs and help them bring their innovations to overseas markets.

AGRI-FOOD AND SUPPLY CHAIN LOGISTICS The Opportunity

The Challenges

• Growth of consumer base • Food security and sustainability • Science, technology, innovation in food production

• Harmonising regulatory framework • Non-tariff barriers • Investment in infrastructure • Government department coordination • Ownership restrictions

Potential actions to address the challenges and capture the opportunity Technology collaboration

Given the overlap in interests in some agri-business areas (food waste, responsible packaging, precision agriculture, aquaculture), there could be opportunities for various research institutions to collaborate more closely in the development of new technologies.

Tackle nontariff measures and standards harmonisation

Tackle FDI restrictions

There is an opportunity for ASEAN to review the exclusionary list of FDI in a bid to attract more investment into certain agriculture and food industries.

Trade route collaboration

While ASEAN has made significant progress in reducing tariff-related barriers, significant non-tariff barriers remain in the food and agriculture sector. There is also a lack of harmonised standards. The ASEAN Connectivity Master Plan 2025 calls for studies on the time and cost of transport in several landbased and maritime corridors. Findings would help to identify unnecessary regulatory barriers.

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FUTURE ENERGY AND SUPPLY CHAINS The Opportunities

The Challenges

• Growing energy demand • Growth in renewables • New technologies

• Corruption • Restricted access to investment and ownership • Resources nationalism • Uncertainty on price regimes

• Intellectual property • Lack of pipeline of projects • Regulatory bottlenecks • Limited development of PPP frameworks

Potential actions to address the challenges and capture the opportunity Prioritise the development of the ASEAN energy project

The ASEAN Connectivity Master Plan 2025 calls for the establishment of a comprehensive online database of all ASEAN infrastructure projects (including energy) with key investor information (such as project size, contact person).

Technology collaboration

Given the overlap in some areas of interest in the energy sector (such as distributed energy), there could be opportunities to pursue research collaborations on new energy technologies. Further opportunities exist in increasing two-way investments to finance the integration of the energy grid and unlock new energy reserves.

Support the development of PPP frameworks.

Australia could leverage its expertise in PPP frameworks to help support a harmonised approach to PPPs across ASEAN in the energy space.

INFRASTRUCTURE The Opportunities

The Challenges

• Prioritisation of infrastructure spending by ASEAN member states • Urbanisation and growth of “middleweight” regions • Funding available through new funding vehicles with focus on One Belt, One Road and PPP’s

• Supportive regulatory environment • Large untapped opportunity on infrastructure productivity

• Corruption • Lack of information for bidding processes/procurement models • Lack of transparency of ASEAN’s infrastructure project pipeline • Limited development of PPP frameworks

• Restrictions to foreign investment and ownership • Regulatory bottlenecks • Coordination challenges with government entities

Potential actions to address the challenges and capture the opportunity Prioritise the development of the ASEAN infrastructure

Establish a forum on infrastructure productivity

The ASEAN Connectivity Master Plan 2025 calls for the creation of an annual forum in which government officials could share insights on how to maximise infrastructure productivity and how to tackle key project bottlenecks. The significant expertise of Australian governments and firms in this area offers an opportunity to launch a targeted AustralianASEAN infrastructure productivity forum.

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Create an Australia-ASEAN sustainable cities network

The ASEAN Strategic Transport Plan 2016-2025 stresses the need for governments to share more of their project knowledge and experiences related to sustainable transport. Meanwhile, the ASEAN Connectivity Master Plan 2025 calls for the creation of a sustainable cities network. Australia, with its expertise in sustainable development (ranging from water leakage to congestion issues), is facing an opportunity to support the establishment of a joint forum. It could also assist research efforts designed to improve measures of urbanisation performance.

UPCOMING EVENTS

To find out more about our events, visit our website at www.austcham.org.sg

MAY 2018 Networking Event

Thursday, 17 May Business Connects May

Join us for an evening of networking. Business Connects provides the perfect opportunity for you to network within the Australian business community and connect with other AustCham members. EVENT SPONSOR

VENUE PARTNER

JUNE 2018 Flagship Business Event

Friday, 8 June President’s Lunch and Business Awards 2018

Don’t miss our flagship business event of the year. Far from being another regular awards ceremony, our President’s Lunch and Business Awards is a celebration of the Australia Singapore relationship over a lunch prepared by leading Australian chefs in Singapore. Featuring fantastic Australian food and wine, this event truly captures the Australian hospitality spirit and celebrates business success. EVENT AND AWARD SPONSOR

Annual Meeting

Signature Event

Thursday, 21 June Annual General Meeting

Friday, 22 June Excellence in Leaders with Michelle Simmons, UNSW Scientia Professor

SUPPORTING PARTNER AND AWARD SPONSOR

AWARD SPONSORS

The Annual General Meeting presents an excellent opportunity for the Chamber to update you on our progress and achievements for the 2017/2018 year and introduce you to our plans for 2018/2019.

Michelle Simmons, UNSW Scientia Professor of quantum physics, was named 2018 Australian of the Year by Prime Minister Malcolm Turnbull at Parliament House in Canberra, the most prestigious civic honour awarded each year. Michelle is recognized for her pioneering research and inspiring leadership in quantum computing. PRESENTED BY

In Conversation With Series Look out for our next guest speaker...

Speakers present on topics in subject areas like science and technology, leadership, communications and marketing, diversity, futuristic workspace and adventures.

TO REGISTER FOR OUR EVENTS, VISIT WWW.AUSTCHAM.ORG.SG OR CONTACT EVENTS@AUSTCHAM.ORG.SG

Special thanks to our presenting sponsor

OUT OUT && ABOUT ABOUT

OUT & ABOUT EXCELLENCE IN LEADERS

Shayne Elliott, ANZ Group CEO

Shayne Elliott, ANZ Group CEO spoke to around 100 AustCham members and guests about opportunities from the result of the strengthening ties between Australia and ASEAN and the potential of expanding Australian businesses into Singapore and the region. Special thanks to our event sponsor ANZ.

Wednesday 11 April 2018

EVENT SPONSOR

Oriel Morrison and Shayne Elliott

Adam Lyle, Kate Baldock, Shayne Elliott, Philip Forrest and David Green

3. 4. 5. 6.

Andrew Brown, Ben Vella, Frank Courtney-Jay and James Lowrey Kate Duff, Dale Anderson, Andrew Chew and Maria Hennessy Anna Hughes, Lauren Knight and Victoria Hartley Adam Lyle, Shayne Elliott, Oriel Morrison and Philip Forrest

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MARCH 2018

ANZ Economic Outlook Thursday 1 March 2018

Khoon Goh, Head of Asia Research for ANZ and Rosalind Mathieson, Executive Editor of International Government News for Bloomberg discussed the outlook for the Singapore economy and how it has benefited from the synchronised lift in the global economy. Special thanks to event sponsor ANZ.

EVENT SPONSOR

Rosalind Mathieson and Khoon Koh

Jacinta Teo

Eric Sands and Miles Gooseman

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OUT & ABOUT

MARCH 2018

PANEL DISCUSSION

Emerging Markets Focus on the Greater Mekong

ANZ Economist Eugenia Victorino, Telstra’s Head of Growth Markets and Digital Customer Hub, Asia Ben Vella and Blackmores’s Deputy Managing Director Dean Garvey presented their perspectives and knowledge on the opportunities and challenges in operating across the emerging markets. Special thanks to our event sponsor ANZ.

Tuesday 27 March 2018 EVENT SPONSOR

Archie Slammett, Liza Noonan, and John Dick

Ben Vella, Dean Garvey, Eugenia Victorino, Andrew Staples and Philip Forrest

Erica Marcellan, Dean Garvey and Prerana Mehta

Sasha Vasiljkovic, Vinayak Herur and Ben Vella

Rosie Slater, Mark Laudi and Simon Litlewood

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MARCH 2018

InterChamber Networking with BritCham Singapore

This April we partnered with BritCham to host a special interchamber event. AustCham members and guests enjoyed an evening of networking, free flow beer, wine and canapes. With thanks to event sponsor Australian Internation School Singapore and event partner British Chamber of Commerce Singapore.

Thursday 12 April 2018

EVENT SPONSOR

EVENT PARTNER

4 5

Geeta Colaco, Kenneth Cheong, Terence Wee and Lisa Askwith

Priya Pranwar, Suzy Goulding, Joanna Seetoh and Emmanuel Paul Ng

Linda Le, Stephanie Bowen-Thomas, Tim Raes and Jarrad Brown

Sean Straton, Mark Florence and Edward Groughan

Edward Groughan

Albert Chan, Jonn Tan and Alex Dela Cruz

John Ooi, Wayne Salamonsen, Daniel Tyson-Jones, Philip Forrest, David Rainey and Andrea Koch ACCESSASIA | WWW.AUSTCHAM.ORG.SG 25

AustCham Membership Tiers CORPORATE Tiers

Benefits

Gold Corporate

+ 15 nominees

For Australian flagship businesses The Gold Corporate Membership is for key Australian businesses who have a strong presence in Singapore and the region. Members include Australian flagship companies that have a strong international profile. Gold Corporate membership offers the opportunity to raise your profile and showcase a company with a strong relationship with the Chamber and the Australian business community in Singapore.

Cost

+ Exclusive invitations to private events

+ 15 complimentary tickets to business events

per year

+ Pre sale registration to signature events

+ Logo on front of our website

+ Corporate branding on tables at events when a complete table is purchased

+ Company write up on our Gold Corporate member page

+ Special discount on advertising

+ Feature company announcement on AustCham

+ Connect with key industry leaders, professionals, and business partners

• Membership is transferrable

website and social media

• Members gain visibility through our AustCham network and listed on our member’s online business directory

+ Inclusion in thank you emails or advertisements across AustCham communication platforms

• Opportunity to increase visibility through our advertising channels including AustCham website, E-Newsletter and Access Asia Magazine

AustCham Membership Card Programme

• Early access to event registration and opportunity to reach out and interact with key industry leaders, professionals, and business partners

The AustCham Membership Card Programme is an opportunity to offer discounts and promotions on services and/or retail products to other AustCham members. Just flash your AustCham membership card and enjoy the savings!

• Opportunity to share company announcements on AustCham communication platforms

Offers will be featured on our AustCham website, E-Newsletter and Access Asia magazine.

Corporate Plus

+ 5 nominees

+ Special discount on advertising

For large Australian and international organisations with an Australian connection

+ 5 complimentary tickets to business events

+ Connect with key industry leaders, professionals, and business partners

The Corporate Plus Membership is designed for large international organisations established in Singapore that have an Australian connection. It is also for companies seeking to conduct businesses in Singapore and looking for greater involvement with the Australian business community. The membership provides added value, offerings opportunities to meet and exchange ideas, develop business relationships and increase your network and contacts.

website and social media

+ Feature company announcement on AustCham

$1,600

+ Exclusive invitations to private events + Corporate branding on tables at events when a complete table is purchased

• Membership is transferrable • Members gain visibility through our AustCham network and listed on our member’s online business directory • Opportunity to increase visibility through our advertising channels including AustCham website, E-Newsletter and Access Asia Magazine

AustCham Membership Card Programme The AustCham Membership Card Programme is an opportunity to offer discounts and promotions on services and/or retail products to other AustCham members. Just flash your AustCham membership card and enjoy the savings!

• Early access to event registration and opportunity to reach out and interact with key industry leaders, professionals, and business partners

Offers will be featured on our AustCham website, E-Newsletter and Access Asia magazine

• Opportunity to share company announcements on AustCham communication platforms

Corporate Enterprise

For small and medium enterprises or entrepreneurs The Corporate Enterprise Membership is ideal for professional individuals who are conducting business or seeking to conduct business in Singapore. As a member, we offer you tailored benefits to meet your individual needs and strengthen your network.

+ Connect with the Australian business community

+ Member rates for events

+ Connect with key industry leaders, professionals, and business partners

+ Exclusive member only events

+ Boost your networks

+ Special discounts on advertising

AustCham Membership Card Programme

• Early access to event registration and opportunity to reach out and interact with key industry leaders, professionals, and business partners

• Opportunity to share company announcements on AustCham communication platforms

Offers will be featured on our AustCham website, E-Newsletter and Access Asia magazine

26 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

$440

AustCham Membership Tiers Tiers

Benefits

Cost

Individual

+ Feature company announcement on AustCham

$420

The Individual membership is designed for people conducting business or seeking to conduct business in Singapore. Individual memberships are owned by the individual and cannot be transferred to another person. If you move companies, you take your membership with you.

Associate This membership is for individuals who are not resident in Singapore but have a connection to Australia or to Australian business in Singapore or the ASEAN region. Associate members will have all the privileges of Corporate Members except that Associate members will not be entitled to vote at General Meetings and will receive an online copy of our Access Asia magazine.

website and social media

+ Connect with key industry leaders, professionals, and business partners

$300

+ Feature company announcement on AustCham website and social media

+ Connect with key industry leaders, professionals, and business partners + Maintain a connection to the Australian business community in Singapore

Benefits at a Glance AustCham Tiers Nominees 15 Nominees 5 Company write up on Gold Corporate member page on our website Recognition by MC at all events Complimentary tickets to business events* Logo on front of our website Logo displayed at all events (excluding Australia Day Ball) Exclusive invitations to private events Inclusion in thank you emails or advertisements across AustCham communication platforms Corporate branding on tables at events when a complete table is purchased Transferable membership Option to include offer in our membership card program Exclusive member only events Pre sale registration to signature events Feature company announcements on AustCham website and social media Special discount on advertising Connect with key industry leaders, professionals, and business partners Boost your networks Connect with the Australian business community Members rate for events *Per Chamber year - 15 complimentary tickets for Gold Corporate membership, 5 complementary tickets for Corporate Plus membership. Tickets for selected events only, not signature events or the Australia Day Ball

Gold Corporate

Corporate Plus

Corporate Enterprise

Individual

Associate

NEW MEMBERS GOLD CORPORATE MEMBERS

Welcome Gold Corporate Members

CORPORATE PLUS MEMBERS

CORPORATE ENTERPRISE MEMBERS

AUSTRALIAN TRADE AND INVESTMENT COMMISSION

ANZ BANKING GROUP LIMITED

HOLLY BUTLER Investment Director www.austrade.gov.au/local-sites/singapore

ANDREW BROWN Regional Head, Research & Anaylsis www.anz.com.sg

SELECT INVESTORS - A DIVISION OF ST. JAMES’S PLACE (SINGAPORE) PRIVATE LTD

MARTIN RIMMER Head of Tax - Select Investors www.sjp.asia

MILES GOOSEMAN Principal - Select Investors www.sjp.asia

ALLIED PICKFORDS SINGAPORE

BED BATH N’ TABLE

ELI ROKUN Business Development Manager www.alliedpickfords.com.sg

GUILLAUME ETAVARD Business Development Manager www.alliedpickfords.com.sg

LARA HOPKINSON Country Manager www.bedbathntable.com.au

28 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

CORPORATE ENTERPRISE MEMBERS

DELOITTE & TOUCHE

DOWELL RESEARCH PTE LTD

FRASERS HOSPITALITY PTE LTD

ROB WATSON Director Forensics & Financial Crime www.deloitte.com

URVASHI JHA Director www.dowellresearch.com

JACINTA TEO Director, Regional Sales www.frasershospitality.com

HOUSE OF ROSE PROFESSIONAL PTE LTD ANTHONY ROSE Chairman and CEO www.houseofroseprofessional. com

HERTZ ASIA LAW & CO LLC

HGM ASIA LAW & CO LLC

BRIAN YEAP Business Development Manager, South Asia www.hertz.com.sg

CAROLINE BERUBE Managing Partner www.hjmasialaw.com

HJM ASIA LAW & CO LLC

IMA ASIA PTE LTD

KELLY VOUVOUSSIRAS Partner www.hjmasialaw.com

ROSIE SLATER Forum Director www.imaasia.com

ST. JAMES’S PLACE (SINGAPORE) PRIVATE LTD

DUSTIN YATES Partner - Wealth Manager www.sjp.asia

DAVID GARDNER Partner www.sjp.asia

MILLER HEIMAN GROUP LUXSHO LOGAN Head of Sales, APAC www.millerheimangroup.com

THE CORNER STORE OLA RAMNEBRO Director & General Manager www.thecornerstore.shop

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 29

NEW MEMBERS CORPORATE ENTERPRISE MEMBERS

ASSOCIATE MEMBER

THE FRY GROUP (SINGAPORE) PTE LTD GILES KREMPELS Consultant www.thefrygroup.sg

THE ZEST GROUP PTE LTD JAMES MCKAUGHAN Group CEO www.arisanbakery.com.sg

VIVIDAS TECHNOLOGIES SINGAPORE WRIX GASTEEN CEO and Managing Director www.vividas.com

PITCHER PARTNERS JAMIE GODDEN Executive Director

TO LEARN MORE ABOUT OUR AUSTCHAM MEMBERSHIP Visit austcham.org.sg or contact us members@austcham.org.sg

INDIVIDUAL MEMBERS

AMEROPA ASIA PTE LTD

COMTRENDS

KING & SPALDING LLP

JANKEES DE ZEIJZER Chartering Manager www.ameropa.com/en/home

ROBERT HONERKAMP Senior Director, Operations www.comtrends.net

NATHANIEL ROWE Attorney www.kslaw.com.com

STANDARD CHARTERED BANK LILIYA BARCHUK Director, Financial Crime Compliance www.sc.com/sg

AustCham Membership Benefits to all Members Promote Your Business

Business Reference

AustCham offers a variety of cost-effective ways to increase your profile amongst the Australian business community in Singapore. Advertising and sponsorship opportunities are available on the Chamber website, Weekly E-Newsletter and magazine.

AustCham can supply a letter of support as evidence of you doing business in the region for your APEC Business Travel Card application. Please contact the AustCham office if you require this service.

Directories

Event Programme

Access to our members-only online directory. Corporate members also have the option of including their business in the public online directory.

The Chamber holds regular business briefings and social events for members to meet and exchange ideas, develop business relationships and increase their professional networks.

Business Programmes

Membership Card Programme

A comprehensive Business Event Programme of Panel Discussions, Briefings, Breakfast and Luncheon Series and Workshops for specifics business topics.

Exclusive discounts to members for a range of products and services including business class check-in and access to the Qantas Lounge at Changi Airport when flying with Qantas.

Jobs Portal & Noticeboard

Special Rates

Corporate members can include employment opportunities within the company on our online jobs portal on the Chamber website. Members can also post news of interest to the community on our noticeboard.

Discounted rates for all of our events including the opportunity to bring invited guests at a special rate. Your spouse/partner is also entitled to membersâ&#x20AC;&#x2122; rates to all our events.

ACCESSASIA | WWW.AUSTCHAM.ORG.SG 31

TRAVEL

MEMBERSHIP CARD OFFERS Present your AustCham membership card and enjoy these benefits.

QANTAS Complimentary business class check-in for you at the Qantas lounge in Singapore

BUSINESS SERVICES AIMS IMMIGRATION SPECIALIST 15% discount on professional fee at AIMS Immigration Specialist CITY DEVELOPMENT LIMITED 10% discount on facilities and services at City Serviced Offices CLIFTONS 25% discount on room bookings GEEK TEAM ASIA 20% discount on all your technology support needs HMD Up to 50% off restoration services ISENTIA Up to 30% discount of standard rate card LAW IN ORDER Enjoy 15% off a range of business administrative services LEVEL3 A complimentary month of 'Community Membership' RUNNINGSTREAM 50% discount for the first year proprietary Portfolio Program SERVCORP Enjoy one month complimentary ‘The Virtual Office’ package

EDUCATION & TRAINING BRITISH COUNCIL 20% off all corporate training workshops COALFACE DIALOGUE Special members’ rates on selected professional development program GEMS WORLD ACADEMY SINGAPORE Priority discounts & preferential discounts for enrolments in the 2016-2017 academic year PM-PARTNERS Enjoy 20% off standard price of any public or in-house training course SINGAPORE MANAGEMENT UNIVERSITY Receive 5% discount on selected SMU Executive Development Programmes WHITE LODGE Free trial class for your child at any one of eight centres throughout Singapore

FINANCIAL SERVICES PAY2HOME Enjoy money transfers to Australia for a flat fee of $15 (save 25%) QBE SINGAPORE 20% discount on personal lines including Home, Motor and Travel coverage

HEALTH SERVICES ALL IN THE FAMILY COUNSELLING Enjoy special rates for counselling sessions DENTAL ESSENCE Special members’ rates for consultations GLOBALIS INTERNATIONAL HEALTH INSURANCE AustCham members, both individuals and groups, now receive discounted rates on their international health insurance

LIFESTYLE & ENTERTAINMENT BOUNCE SINGAPORE 10% off General Access Tickets EATPLAYLIVE 50% off the purchase price for 12 months access to EatPlayLive, Asia’s premier lifestyle app THE BRITISH CLUB Enjoy a Five Year Term Membership for only $6500+ VIRTUAL ROOM 15% off for AustCham members booking online

HOTELS ANGSANA LANG CÔ Complimentary choice of one unlimited inclusion (golf/spa/dining) per day

FRASERS HOSPITALITY 20% off Best Flexible Rate at participating properties

COMO THE TREASURY PERTH 10% off Friday and Saturday public rate

THE FULLERTON HOTELS SINGAPORE 10% off the Fullerton Family Package

FAR EAST HOSPITALITY Enjoy discounts on best available rates at Far East Hospitality Hotels in Singapore and TFE Hotels in Australia

THE FULLERTON BAY HOTEL 10% off the Indulgence Room Package

RESTAURANTS ARTISAN BOULANGERIE CO. 17.5% off total bill

MEAT SMITH Exclusive all day happy hour drinks and 25% off all meat platters

CARLTON HOTEL SINGAPORE 20% off total bill at Café Mosaic, Tuxedo and Gravity Bar 10% off total dinner bill at Wah Lok Cantonese Restaurant

MEZZA9 15% discount on snacks at martini bar and party room, and food during lunch, dinner and Sunday brunch

GATTOPARDO 15% off A La Carte dishes JAXS BISTRO 10% off total bill JW MARRIOT HOTEL SINGAPORE SOUTH BEACH Exclusive discount on dining and wellness priviledges MARINA MANDARIN SINGAPORE 15% off best available room rates and hotel managed restaurants & lounge

MIKUNI & PREGO 20% off total bill MONTREUX JAZZ CAFE 20% off total bill and 15 % off Merchandise NOVOTEL SINGAPORE CLARKE QUAY 15% off total buffet food bill only at The Square Restaurant PARK REGIS Enjoy special rate for Corporate Seminar Package WHITEGRASS 20% off total bill at The Bar

RETAIL THE BESPOKE CLUB 15% off storewide including Bespoke Orders EASTERN CARPETS Receive 10% discount on all carpet cleaning services INDIGO WINE CO Futher 10% off already discounted wine packs NATURAL SPRINGS AUSTRALIA Receive one free 5-gallon bottle with every five bottles purchased

SHIVA DESIGNS 15% discount on purchases over $99 UOMO GROUP Exclusive discounts at UOMO Group, Brioni and Stefano Ricci WINE EXCHANGE ASIA $69 per bottle for cases of six BillecartSalmon NV Champagne YES 20% off best wellness products including Tasmanian Honey

POP UP WINE Complimentary bottle of award winning wine with purchase of any 12 wines

TRANSPORT & RELOCATION SERVICES ALLIED PICKFORDS Offering AustCham members a special insurance premium of 3%

VISIT WWW.AUSTCHAM.ORG.SG FOR FULL DETAILS & CONDITIONS ACCESSASIA | WWW.AUSTCHAM.ORG.SG 33

NEWS FLASH Westpac appoints New General Manager, Asia Pacific Singapore/Hong Kong: Westpac Banking Corporation (Westpac), Australia’s first bank, has announced the appointment of Michael Correa as General Manager, Asia Pacific. Mr Correa, who is currently Head of Corporate & Institutional Distribution and Origination, Financial Markets at Westpac in Sydney, will be moving to Singapore and start an immediate transition into his role. Michael brings with him more than 20 years of regional industry experience, including 8 years in Asia. He joined Westpac’s financial markets team in 2011 leading the global capital markets business. In his new role as General Manager, Asia Pacific, Michael will report to Lyn Cobley, Group Executive for Westpac Institutional Bank and will be responsible for overseeing all of Westpac’s business operations in Asia, client, partner and regulator relationships. Commenting on the appointment, Lyn Cobley said: “We are excited to welcome someone of Michael’s calibre to Westpac’s Asian franchise. Michael’s appointment reflects our strategy and continued commitment to customers, by providing them with deep local market knowledge and connectivity. His financing and client expertise means he is perfectly positioned to help our customers make the most of this dynamic and fast growing region as they take part in the ever increasing trade and investment flows.” Prior to joining Westpac, Michael spent 17 years with ANZ, including eight years in Asia, where he was the Regional Head of Global Markets, Asia Pacific and Global Head of Structured Products and Equity. Westpac has been supporting clients in Asia for more than 40 years across a wide range of financial services. Westpac has branches in Singapore, Hong Kong, Shanghai, Beijing, Mumbai and a representative office in Jakarta.

New AustCham Membership Card 2018/19 LOOK OUT FOR OUR NEW CARD DESIGN The AustCham Membership Card Programme is an opportunity to offer discounts and promotions on services and/or retail products to other AustCham members. Just show your AustCham membership card and enjoy the savings!

APR / MAY 2018 AccessAsia Magazine is published bi-monthly by AustCham Singapore Editorial Team Kate Baldock, Executive Director Rica Ang, Marketing Executive Design Rica Ang, Marketing Executive

EDITORIAL AND NEWSFLASH ANNOUNCEMENTS To submit articles or announcements for consideration for Access Asia, email info@austcham.org.sg ADVERTISING To learn more about advertising in Access Asia Magazine, contact Rica Ang at rica.ang@austcham.org.sg FOLLOW US ON @AustCham-Singapore

AustCham Singapore 25 Napier Road (Level 3) Singapore 258597 34 ACCESSASIA | WWW.AUSTCHAM.ORG.SG

@AustChamSingapore

@AustChamSG

READ THE DIGITAL COPY AT AUSTCHAM.ORG.SG

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ACCESSASIA | WWW.AUSTCHAM.ORG.SG 35

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