MABC and SABC ink MoU to boost bilateral trade and investment

KUCHING: The signing of a Memorandum of Understanding (MoU) marked a significant milestone in the relationship between the Malaysia Australia Business Council (MABC) and the Sarawak Australia Business Chamber (SABC).

According to a press release by MABC, the MoU aims to enhance collaboration and cooperation, with a specific focus on promoting bilateral trade and investment between Malaysia and Australia.

“Sarawak will play a leading and critical role in the Malaysian economy’s growth story, and Australian businesses need to take the time to understand the strategic vision of Sarawak and explore the business and investment opportunities it will create. 

“Three high-growth areas have been identified: renewable energy, education, and tourism, with a particular emphasis on meetings and incentives for Australian businesses to consider immediately. 

“The education sector has already received substantial investments from Australia, with two leading universities already establishing campuses in Sarawak.”

MABC believes that, in collaboration with SABC, both parties can strengthen trade and relations between Australia and Malaysia, including Sarawak. 

“SABC, a lead partner and signatory to the newly formed Borneo Economic Community (BEC), comprises Business Chambers, Government, and Communities from Sarawak (Malaysia), Kalimantan (Indonesia), Brunei Darussalam, Sabah (Malaysia), and Labuan (Malaysia).”

The BEC initiative, formed under the Asean Business Advisory Council (BAC), envisions Borneo as the green lung of the region, home to the new and green capital of Indonesia, Nusantara. 

Sarawak, recognised for its rich resources and sustainable green economy, is considered an exemplary model in the region. 

The rapid growth of Borneo and Sarawak offers abundant business opportunities for MABC and SABC members.