Oceania region geographically comprises two large developed economies of Australia and New Zealand along with many developing economies comprising Fiji, Papua New Guinea, Solomon Islands, New Caledonia, Tonga, Samoa, Kiribati, Palau, Tuvalu ad Tahiti.
Oceania region covers an area of 8,525,989 square kilometres (3,291,903 sq mi) and has a population of over 40 million.
Situated to the Southeast of the Indo Pacific region, Oceania region has an important strategic role. These countries have become suppliers of valuable natural resources from extractive industries including mining, Oil & Gas, LNG, agricultural and dairy food supplies to the fast growing in Asia. Oceania region countries support two of Asia’s largest economies – India and China – which will become the second and third largest economies of the world during next decade and forecast to become the first and second largest economy by 2050.
The combined GDP of Oceania region economies is approximately US$1.73trillion as per 2017 estimates available online.
Australia is forecast to become the largest LNG exporter in the world by 2022 overtaking Qatar that’s currently largest exporter of LNG to the rapidly growing Asian economies. Similarly, other countries in the region like Papua New Guinea have commenced LNG exports from their large US$19bn ExxonMobil operated joint venture PNG LNG project, with additional two trains having been recently announced by this same Joint Venture consortium partners. Similarly, TOTAL of France has recently also announced their decision to commence their $10bn plus Papua LNG project post FID confirmation by end 2019. Some other very large LNG projects have been announced in Australia exports will start by 2020.
Similarly, some of the world’s largest gold, copper, heavy mineral sands mines together with other important extractive industries are located in Australia, Papua New Guinea and other countries in Oceania region. Subsequent to the APEC Conference held in November 2018 in Papua New Guinea, the country has attracted significant attention from global investors towards many industries that can be set up in the country and export to rapidly growing Asian economies.
Besides the mining sector, there’s tremendous growth in Tourism, Healthcare, Renewable Energy, Agriculture, Financial Services, Real Estate, Manufacturing, Retail and Sports sectors in all of these Oceania region countries.
CNA International has recognised this tremendous potential for economic growth and employment opportunities in the Oceania region. With the growing multicultural environment in these countries, it has become important for CNA International to have a local presence in each of these countries.
Mahadevan Shankar, Managing Partner – Network & Business Development, CNA International Oceania region has headquarters in Brisbane with extensive networks towards developing upcoming member firms in each of these countries. Mahadevan is currently Executive Committee member of Australia India Business Council, QLD Chapter and has been past Founding Executive Committee Member of PNG India Business Forum besides Founding Vice Chairman of two important Indian Chartered Accountancy business networks in Australia and Papua New Guinea. As a Big4 accounting firm Partner previously, Mahadevan has served small, medium and large companies – privately owned and ASX listed – spread across many countries in the Oceania region. Mahadevan brings valuable leadership expertise with his extensive networks at the Board and Senior management levels of each entity and recognizes the need to provide customized solutions to each organisation in the region.
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