Doing business in Asia
Date Added: 12th October 2010 from ExportNZ
Export NZ Auckland was fortunate to hear the insights of Michael Bennetts, CEO of BP Eastern Hemisphere from 2003 to 2008, about the implications of the current economic climate on doing business in Asia in the short and medium term.
Michael presented his insights for Kiwi exporters at our April 2009 Khybar on Khyber networking event.
He said the short term implications were:
- In a recession not all markets are the same and it is important that you properly understand the fundamentals of your markets, both the hard data and the softer sentiments.
- Relationships matter and the best of relationships are often forged under the toughest of circumstances.
- The lessons learned from the Asian Crisis will mean that Asian markets are relatively better off than Western markets.
- The war for local Asian talent will continue.
- Government led stimulus packages will be concentrated on infrastructure investments and improvements in productivity rather than consumer focused measures.
- There can be significant value in options, especially in a u-shaped recovery.
