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The article examines whether the quota system is the right approach for Australia in its efforts to develop knowledge in Asian business practices. It says that when the Australian government released its white paper, "Australia in the Asian Century," one of the goals was that by 2025, one-third of board members of ASX 200 companies should have a deep experience in and knowledge of Asia. It questions the wisdom of such a goal because of its heavy slant towards Asian capabilities.

The article focuses on Australia's biggest Asian businesses which are led by its resources and steel companies. It says that Australia's top 50 list are engaging with Asia to make the so-called Asian Century a reality, and these include BHP Billiton, Rio Tinto and Fortescue Metals Group. It looks at how well-positioned and skilled Australian companies are in tapping into the growing demand for services among Asian economies. INSET: AUSTRALIA'S TOP 50 EXPORTERS TO ASIA.

Reports on plans to extend mutual recognition of regulations to the Australian-New Zealand trade sector. Reduction of trans-Tasman regulatory barriers; Discussion paper presented to the April 1995 meeting of the Council of Australian Governments (COAG); Implications; Expectations.