MoU signifies plans for Sarawak, Australia to enhance bilateral trade, investment ties

KUCHING (Aug 18): The Australia Malaysia Business Council Queensland (AMBCQ) and Sarawak Australia Business Chamber (SABC) recently inked a memorandum of understanding (MoU) on enhanced collaboration and cooperation in promoting bilateral trade and investments between both sides.

The signing ceremony took place at the Office of Deputy Premier of Queensland Cameron Robert Dick, also the Treasurer of the State of Queensland, and Minister for Trade and Investment Queensland, Australia.

Prior to this, Deputy Premier of Sarawak Datuk Amar Awang Tengah Ali Hasan, also SABC deputy patron, held a dialogue with Dick.

Awang Tengah described the MoU signing as a ‘momentous occasion, aimed at further fostering the camaraderie between Malaysia (Sarawak) and Australia (Queensland)’.

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

“Australia and Malaysia are long standing partners and friends. In 2025, we will commemorate 70 years of establishment of the diplomatic relationship between Australia and Malaysia.

“Our relationship is based on mutual respect and our common interests, shared history and strong community links,” said Awang Tengah in a statement yesterday.

Representing SABC at the MoU signing was its president Rodger Chan, and coming on behalf of the AMBCQ was its president, Shona Anikka Leppanen-Gibson.

According to Chan, the MoU marked a significant milestone between Sarawak and Queensland, apart from establishing the strong foundation of relationship between SABC and AMBCQ.

“It is envisaged that 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 and conversely, to act as a conduit for Sarawak businesses expanding or investing into Australia,” he said.

Chan pointed out that trade between Sarawak and Australia continued to be robust, recording total trade of AU$1.37 billion last year where exports accounted for AU$0.93 billion and imports were AU$0.44 billion.

According to him, Sarawak’s main export items to Australia are crude petroleum, fertiliser, plywood and vessels (ship), while the main import items from Australia are aluminium ores, concentrate and wheat.

“Although bilateral trade is healthy, the volume is still relatively small. There is definitely room for more trade activities between Sarawak and Australia.

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