Minster for Foreign Affairs, the Hon Julie Bishop MP, has launched three new programs to drive business engagement with the New Colombo Plan.

The New Colombo Plan Internship and Mentorship Network, Mobility Partners Program and Business Champions Initiative were announced by Minister Bishop at a special event hosted by ANZ CEO Mike Smith and attended by more than 100 business leaders, university and government representatives, members of the diplomatic corps and NCP students.

"The Australian Government recognises the benefits of a labour force equipped to do business in our region and work placements are a hallmark of the New Colombo Plan," Ms Bishop said.

"Internships, mentorships and practicums enable New Colombo Plan students to test their skills in real life situations, build cross-cultural competencies and develop professional networks," Ms Bishop said.

Already around half of New Colombo Plan students have complemented their formal studies with a work placement and more than 90 per cent report greater regional literacy and work-readiness on completion of their award.

"I have been delighted by the enthusiastic embrace of the New Colombo Plan by the business community, which has provided overseas opportunities for young Australians," Ms Bishop said.

"As the New Colombo Plan continues to expand in the years ahead, continued private-sector support and engagement, together with support from Australia's universities, will be critical to its success.

"The initiatives announced today will allow students to further benefit from these opportunities," Ms Bishop said.

Internship and Mentorship Network

The New Colombo Plan Internship and Mentorship Network (ncpbusiness.dfat.gov.au) includes a secure website for organisations to register their interest in offering work placements to NCP students. The Network was launched with more than 100 opportunities for New Colombo Plan students across the Indo-Pacific.

Mobility Partners Program

The Mobility Partners Program supports Australian universities to develop innovative partnerships with the private sector to create new opportunities for NCP students. For example, a private-sector organisation may wish to provide financial or in-kind support for an additional study period to enable students to have a longer period in-country, or they may wish to match government funding to enable increased student participation.

Business Champions Initiative

The Business Champions Initiative supports business leaders to promote the value of regional study and workplace experiences to students' careers and Australia's future prosperity.

Minister Bishop also announced the inaugural New Colombo Plan Business Champions:

• Mike Smith OBE – ANZ Chief Executive Officer
• Brian Hartzer – Westpac Chief Executive Officer
• Jayne Hrdlicka – Jetstar Group Chief Executive Officer
• David Fried – QBE CEO Emerging Markets
• Alison Watkins – Coca-Cola Amatil Group Managing Director
• Geoff Culbert – GE Australia and New Zealand President and Chief Executive
• Doug Ferguson – KPMG National Leader, Asia Business Group
• Wendy Holdenson – Mitsui & Co Director and Executive Vice President
• Rob Thomason – CPA Australia Executive General Manager Education

More information on New Colombo Plan Business programs or follow @NewColomboPlan