MoU inked to enhance Sarawak-Queensland trade, economy

BRISBANE: A landmark agreement was reached this week boosting bilateral trade and investment between Sarawak, Malaysia and Queensland, Australia, setting the stage for stronger economic ties.

This was after a memorandum of Understanding (MoU) was signed between the Australia Malaysia Business Council Queensland (AMBCQ) and the Sarawak Australia Business Chamber (SABC).

SABC was represented by its president Rodger Chan and AMBCQ was represented by its president Shona Anikka Leppanen-Gibson at the office of the Deputy Premier of Queensland, Treasurer and Minister for Trade and Investment, Cameron Dick recently.

Earlier, in a dialogue session, Deputy Premier and Minister for International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hassan alluded to the strong ties between the two regions.

Awang Tengah (fourth right) taking a group photo after the signing ceremony.

“This is a momentous occasion that further fosters the camaraderie between Sarawak and Australia.

“We are not strangers to each other, as both Sarawak and Australia have regular engagements, between governments, businesses, and also people-to-people,” he said.

He also highlighted the long-standing partnership between Australia and Malaysia, noting the upcoming 70th anniversary of diplomatic relations in 2025.

Meanwhile, Chan said the agreement was a significant milestone, laying a strong foundation for future cooperation between the two business chambers.

“Through this partnership both chambers will be able to better serve the needs of the business community looking to expand and invest in Sarawak and the region from Australia while being a conduit for Sarawak businesses expanding or investing into Australia,” he said.

He said that trade between Sarawak and Australia continues to thrive, with total trade reaching 1.37 billion Australian dollar in 2023, where exports accounted for 0.93 billion Australian dollar and imports were 0.44 billion Australian dollar.

“Sarawak’s main exports to Australia include crude petroleum, fertilisers, plywood, and vessels, while key imports from Australia consist of aluminium ores, concentrates, and wheat.

He added that although bilateral trade is healthy, the volume is still relatively small adding that there is definitely room for more trade activities.

“I hope that this MoU will pave the way for more bilateral activities in trade, investment, tourism, education, and many others. I would like to take this opportunity to wish both sides every success in this and future endeavours,” Chan said.

Present were Ministry of Natural Resources and Urban Development Sarawak (MUDeNR) Permanent Secretary and SABC senior advisor Datuk Abdullah Julaihi and Ministry for International Trade, Industry and Investment Sarawak advisor and SABC senior advisor Datuk Seri Mohd Naroden Majais.

Also in attendance to witness the signing ceremony were MP of Queensland Australia Jess Pugh, Sarawak State Attorney-General Datuk Saferi Ali and AMBCQ immediate past president Kiong Wai Chan.