Ruby Cheung, Director at William Buck has been elected Chair of the Praxity Alliance’s Asia Pacific Region.
Welcoming Ruby to the role, Graeme Gordon, Chief Executive of Praxity (the world’s sixth largest accounting alliance) said “Ruby’s distinguished 20-year career specialising in Asia Pacific business development, and international in-bound and outbound investment adds an increased level of depth and strength across a region that is pivotal to our success.”
Asia Pacific nations account for almost a third of global GDP and by 2030, the region is expected to overtake the GDP of the rest of the world combined, contributing to 60% of global growth.
In response, Praxity’s presence in the region has more than doubled over the last five years and now accounts for more than 14% of the alliance’s overall revenue.
Ruby’s appointment to Chair of the region represents Australia’s strategic importance on the world stage.
“Australia has strong trade ties with the rest of the world and their location has allowed them to become a major supplier to markets in Asia Pacific, ”Graeme said.
With less barriers to trade and fewer tariffs, there’s a lot of opportunity for Australian businesses across Asia. In taking up her position, Ruby said “The new provisions on intellectual property, telecommunications, financial services, e-commerce and professional services will provide additional benefits for economic and trade growth.
“Being part of the Praxity Alliance and now appointed as Chair of their Asia Pacific Region, increases our potential to help clients with cross-border transactions. We can continue to share valuable resources such as the Praxity M&A Hub, a global list of buyers and sellers.”
Nick Hatzistergos, Chairman of William Buck said “Ruby has tremendous trade experience. Her understanding of the emerging markets and her strong relationships with our international peers, like Praxity, will bring more value and opportunities to our clients.”
“Asia Pacific is the epicentre for global market leaders – not only in the automotive and industrial sectors but also in areas such as technology and finance. With the region amongst the top destinations for venture capital, Ruby will help carve out strong, sustainable futures for businesses looking to operate internationally.”
Ruby’s appointment complement’s William Buck’s existing Asia Pacific service offering. Bringing together their capabilities, the team helps clients navigate the legal, trade and cultural nuances in a broad range of the region’s markets.
About Asia Pacific Region
As a hub of world trade, the region is an important market for international companies. Asia Pacific is home to some of the world’s largest companies and an engine room for innovative technology.
With a flourishing digital ecosystem and evolving free trade agreements, it makes up almost two thirds of our nation’s two-way trade.
Last year, Australia was amongst 15 countries to sign the largest free-trade agreement in the world, The Regional Comprehensive Economic Partnership (RCEP). This covers nearly a third of the global economy.
A key COVID-19 measure announced by the Australian Government was the $500 million in funding to help businesses expand operations overseas and re-establish markets.