News story 21st Sep 2015

New Colombo Plan to boost study abroad opportunities

Monash Business School has secured funding from the Australian government to facilitate student exchanges and internships in the Indo Pacific region.

Funding outcomes under the 2016 New Colombo Plan were recently announced by the Department of Foreign Affairs and Trade, with Monash University receiving close to $2 million over three years. Funding was received for Monash Business School to conduct a study tour to Bangladesh and provide student exchange opportunities to China and Japan for undergraduate students.

New Colombo Plan

 "The grants facilitated by the New Colombo Plan will allow our students to enhance their understanding and knowledge of the Indo Pacific region," Professor Chalmers, Deputy Dean External and International in Monash Business School said.

"It will also give undergraduate students the chance to study and undertake internships in regions that are rich in history and full of opportunities, giving them an invaluable international experience."

The New Colombo Plan will foster semester-long programs in China and Japan for Bachelor of International Business and Bachelor of Business students. Monash Business School undergraduate students will also be able to take part in a study tour to Bangladesh visiting the University of Dhaka and industry and government organisations.

Strengthening relationships with Bangladesh

Professor Chalmers said that the opportunity for students to visit Bangladesh and immerse themselves in the culture is of particular importance. By increasing student mobility in a region that is currently under-represented, the study tour to Bangladesh will help students better understand the economic, social and political landscape of developing countries.

"It's important to understand the prospects associated with trade in the country, and to increase awareness of opportunities available in developing regions," Professor Chalmers said.

The grants facilitated by the New Colombo Plan will allow our students to enhance their understanding and knowledge of the Indo Pacific region .

Professor Keryn Chalmers

Deputy Dean, External and International

While Monash Business School already has strong academic ties with Bangladesh through research projects and by conducting training programs for public servants from Bangladesh under the Australia Awards Fellowships, the mobility program will further strengthen ties with the nation and introduce a new dimension to the relationship – students.

 "We have been fortunate to forge positive connections in Bangladesh through the outstanding work of Monash Business School faculty," Professor Chalmers said.

"Through the New Colombo Plan, we now have the opportunity to leverage our networks and reputation to provide opportunities for our undergraduate students."