Australia's research and business ties with Asia declines: study

Australia's research and business ties with Asia have experienced the largest decline in a decade, anew study revealed on Friday.

The Pricewaterhouse Coopers Melbourne Institute Asialink Index, released on Friday, also indicates Japan has reclaimed its position from China as Australia's largest trading partner.

The index measures Australia's links with 25 Asian economies in categories such as education, trade and migration.

The research and business development section of the index fell 10.3 percent, which is the largest fall since 1999.

It recorded a substantial fall in Australians making business visits to Asia and a drop in Asian business patenting in Australia.

The number of Asian tourists visiting Australia also fell by 7.7 percent in 2008.

Asialink chief executive Jenny McGregor said the drop in research and development relations has not damaged Australia's long-term positive links with Asia.

However, she stressed we cannot afford to become complacent.

"We do need to be concerned that research and business development has fallen significantly, especially with Japan, which recorded a drop of 28.3 percent last year," she said.

Japan accounted for almost one third of Australia's exports to Asia in 2008 and provided almost 17 percent of imports.

Source:Xinhua