As global tensions and divisions become more apparent, the world’s attention is increasingly focused on how nations navigate partnerships and deal making in this era of uncertainty.
Through our work on the Australia for ASEAN Futures (Aus4ASEAN) Technical Services and Support Program, we have been reflecting on the intersection of partnerships and deal making in Asia.
Regional groups such as the Association of Southeast Asian Nations (ASEAN) are some of the largest and most important examples of global partnerships. Such partnerships are vital for peace, security and prosperity.
External programs strengthening the achievement of ASEAN objectives and regional architecture use partnerships in a natural way, such as the Australian Department of Foreign Affairs and Trade’s Aus4ASEAN Futures Technical Services and Support Program.
Beyond these multilateral partnerships are bilateral deal making. Seen more commonly as competing forces, the balance between the two is critical.
The intersection between partnerships and deal making is the ‘sweet spot’ that will drive regional advancement.
External vs. internal objectives: A holistic approach
One of the most fundamental pillars for any country or organisation is the clarity of its objectives—both internal and external.
However, countries and organisations are searching for clarity as they face new challenges and opportunities.
Asia on the other hand – a hub of innovation and growth – finds itself in a unique position to embrace both deal making and partnerships to lead the way forward.
Asia is not immune to the political cyclones brewing elsewhere, but it can use this convergence of opportunities to reinforce both internal and external objectives, aligning values, and driving innovation and progress.
While deal making often revolves around internal goals such as economic growth and citizen wellbeing, partnerships typically focus on broader, regional, or global aspirations.
By recognising the value of both, countries and organisations can adopt a holistic approach that balances self-interests with the collective good.
It’s crucial to remember that success isn’t just about boosting GDP or achieving short-term goals, it’s about fostering long-term societal wellbeing and sustainable growth.
Asia can guide the world toward this balanced approach, where both the internal and external objectives coexist, allowing for collaborative progress.
Aligning values: The heart of true partnerships
While deal making is often transactional and centered on immediate exchanges, partnerships require a deeper level of alignment.
A deal is primarily driven by a quid-pro-quo transactional mentality – ‘I give you this, you give me that’.
In contrast, partnerships thrive on a shared set of core values, which form the foundation of mutual respect and long-term cooperation.
They foster an ongoing sense of accountability.
In today’s polarised world, it’s important to shift away from the idea that partnerships can only be forged between those with identical perspectives.
Instead, we must embrace diversity of thought and perspective.
In Asia, this can help maintain a delicate balance between modernity and tradition, allowing for the natural evolution of ideas while respecting cultural nuances.
Self-interest vs. collective pursuit: A fluid approach
Self-interest is a cornerstone of deal making, as each party strives to achieve the best possible outcome for themselves.
While this approach may lead to beneficial outcomes, it doesn’t always result in the most ideal scenario for all involved.
True partnerships, however, offer flexibility and focus on the collective pursuit of goals.
By fostering self-directed responsibility and placing emphasis on the relationship itself, partnerships allow room for both individual and collective growth.
Asia, with its rich diversity and range of economic, political, and cultural contexts, can harness this fluidity to create partnerships that are adaptable, understanding of self-interest, openness to change, and alignment with long-term goals.
Beginning vs. end: Nurturing relationships for growth
A deal often marks the end of a relationship, sealed with a formal agreement and defined terms. On the other hand, a partnership is a living, evolving relationship.
The formal contract may exist, but informal agreements or ‘ways of working’ are just as critical to its success.
In Asia, where relationships are deeply embedded in the cultural fabric, fostering long-term, adaptable partnerships will provide the foundation for both business and diplomatic success.
A dual approach—both formal and informal—will underpin future growth and stability of the region. The seamless integration of beginnings and endings will ensure that new ideas are absorbed into existing structures, creating an environment of continuous improvement.
Measurable vs. non-measurable: Embracing both
In deal making, success is often measured quantitatively—through metrics such as financial outcomes or growth rates.
However, partnerships focus on qualitative aspects, such as emotional alignment, mutual trust, and shared vision.
While numbers will always be important, the softer aspects of partnerships—the intangible elements that make relationships meaningful—cannot be overlooked.
By embracing both measurable and non-measurable success indicators, Asia can continue to develop its culture in a way that is both ambitious and respectful of its diverse traditions.
Dealing with complexity: Transparency and adaptability
The complexity of modern global relations demands transparency, but not just in terms of information.
In a deal, full disclosure of information is essential for ensuring fairness and understanding.
In a partnership, however, disclosure of intent is just as, or perhaps more, important.
As the world becomes more unpredictable, Asia must be ready to share both information and intention.
By adapting to changing circumstances and being open with partners, Asia can help ensure that its partnerships remain strong and resilient, even in the face of shifting global dynamics.
Asia’s opportunity: Leading with confidence
As the world faces increasing political and economic uncertainty, Asia is poised to lead with innovation and collaboration.
By understanding the interplay between deal making and partnerships, Asia can navigate external pressures while maintaining its internal growth.
By embracing both aspects and allowing them to reinforce one another, Asia can provide the fresh inspiration and confidence that the world needs today.
The world is watching, and Asia’s ability to balance transactional deal making with deeper, values-based partnerships will ensure its continued leadership in the global arena.
Read more about Tetra Tech’s work in future economies.
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