Australia Malaysia Business Council

Malaysia Australia Business Council

JOINT MEDIA RELEASE

Malaysia Australia Free Trade Agreement to enable ‘Forging Ahead’ of bilateral trade and investment relationship

Thursday November 10, 2011.  The Australian and Malaysian Prime Ministers appear to be holding firm on their commitment to have the Malaysia Australia Free Trade Agreement (MAFTA) completed and finalized by early 2012, as the two nations prepare for yet another affirmation of their strong bilateral relationship.

With eight rounds of negotiations having already taken place between the two nations, and a determination to complete the agreement within 12 months reached earlier this year, the future of trade and investment opportunities between the two nations appears bright.

Australia Malaysia Business Council (AMBC) National President Larry Gould believes the conclusion of the MAFTA will further strengthen the already booming trade relationship between Australia and Malaysia.
“With the impending signing of the Malaysia Australia Free Trade Agreement (MAFTA), both Australian and Malaysian businesses can look forward to increased opportunities for bilateral trade and investment in the future.”

As Chairman of the Malaysia Australia Business Council (MABC), Michael Haplin has been an advocate of the agreement since its inception in early 2005 and shares with great conviction the view of his AMBC counterpart.

“With the signing of the MAFTA expected to take place within the next twelve months, new opportunities for investments and collaborations between Malaysian and Australian businesses will surely blossom.”

Australia is already Malaysia’s eighth-largest export destination and 11th import source.  Malaysia is concurrently Australia’s third-largest trading partner in the Association of South-East Nations (ASEAN) and eleventh-largest partner overall.

An exciting economic development between Malaysia and Australia, the MAFTA is one of many relevant topics addressed by the joint AMBC – MABC initiative ‘Australia Malaysia: Forging Ahead’ to be launched in Melbourne on Thursday 17th November 2011 at the Melbourne Convention and Exhibition Centre and followed by a cocktail reception in Kuala Lumpur on 23rd November.

The full day business briefing will include presentations on:

Human Capital Development
-    The importance of human capital to Malaysia
-    Education and vocational competency development
Business and Professional Services
-    Finance/Law
-    Banking
-    Medical and Health Tourism
Science, Technology and Sustainability
-    Environment
-    Australia Malaysia Science Partnership
-    Commercialisation of Innovation
-    Biotechnology    Australia/Malaysia Forging Ahead
-    Policy and Regulation – MAFTA
-    Sabah’s view of the future
-    Malaysia as a hub for ASEAN

The initiative – designed by Roxby Media and supported by key trade and investment agencies including the Malaysian Investment Development Authority (MIDA) and Malaysia External Trade Development Corporation (MATRADE) – looks to highlight the trade and investment opportunities arising out of economic policy developments in Malaysia.

These developments – including the Government Transformation Program (GTP), the Economic Transformation Plan (ETP), One Malaysia – People First, Performance Now and the 10th Malaysia Plan (10MP) – are all part of a broader objective to double per capital income and effect the move to a high-income economy by 2020.

With many of these economic policy developments reliant on significant private sector investment, the initiative is vital, providing a link between these two key interest groups.

The AMBC’s Larry Gould is confident however, that through the ‘Australia Malaysia: Forging Ahead Initiative’, the AMBC and MABC can “act as a conduit for building relationships at a business to business level and continue to promote Australia and Malaysia as world class destinations for trade and investment.”

For further information on the launch events to be held on the 17th and 23rd November 2011, please contact Sandra Johnasson at Roxby Media on +612 8246 7400.

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