New Zealand businesses still have a lot to learn if they want to succeed in lucrative Asian markets, according to Crowe Horwarth Managing Principal and current President of the Hong Kong New Zealand Business Association Andrew Sayers.
Sayers, who leads the firm’s Asia Business team in New Zealand, said New Zealand companies have made big strides in recent years, however, there was a lot of room for improvement.
“The Asian region is playing an increasingly important role in our economy, accounting for six of our current top 10 trading partners,” he said.
“There are still significant trade and investment opportunities that have yet to be explored but New Zealand businesses need to put greater effort into understanding and engaging with their Asian counterparts.
“Cultural and values differences continue to present challenges for doing business in Asia, and can often be the tipping point when it comes to getting something off the ground locally or offshore. If done well, the benefits of improving business relationships between New Zealand and Asia are numerous, from job creation to joint ventures.”
Sayers said with the surge in business opportunities between the Asia Pacific regions, Crowe Horwath had moved to bolster its Asia Business team. Recent local appointments to the global accounting and business advisory firm have included high powered Asian business experts Kenneth Leong and Yan Zhang.
Zhang has over 20 years experience in international trade and investment, while Leong has a long track record of facilitating business across cultures, from deal origination to execution.
“In essence, they will act as ‘relationship brokers’ between Asian investors and Asian business owners, and New Zealand businesses. I have no doubt that our clients will benefit from the wealth of experience and extensive Asian networks that both Zhang and Leong bring to the business.”
Sayers said the expanded Asia team will further cement the company’s strong existing connections in the ASEAN.
Aside from the firm’s current Asian markets expertise across the New Zealand and Australian teams, Crowe Horwath has offices in Hong Kong, Singapore, Malaysia and across the ASEAN region. It also employs more than 10,000 staff in China.