Australia Eyes Increased Investment And Trade With Malaysia Next Year
KUALA LUMPUR, Dec 19 (Bernama) -- Australia is eyeing an increase in investment and trade with Malaysia next year, said Australian High Commissioner to Malaysia, Danielle Heinecke.
She said increasing investments is one of Australia’s objectives in Malaysia, based on the country’s attractiveness in the ASEAN region. “Malaysia is in a good spot because your economy is doing well and has good opportunities in the technology sector,” she said in an interview with selected media.
She highlighted that other factors inherent in this country, such as an improving regulatory environment, political stability, and good skill sets, as well as a multilingual capability, are also important elements in influencing investors’ decisions.
She also indicated that there are quite a few Malaysian investments in Australia. “We're very open to foreign companies operating in Australia, and we've had a lot of Malaysian companies that have done really well,” Heinecke said.
She pointed out that the commission is also working with various ministries in Malaysia to ensure that the four trade agreements between Malaysia and Australia are being adopted by businesses to gain better access to markets.
The four trade agreements involving Australia and Malaysia are the Malaysia-Australia Free Trade Agreement (MAFTA), the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), the Regional Comprehensive Economic Partnership Agreement (RCEP), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
“We need to keep trying to do more to promote Malaysia as an investment destination in Australia, and we will keep running programmes and bringing our companies here to see everything that Malaysia has to offer,” she said.
She highlighted that the areas of focus are investment in renewable energy, healthcare, manufacturing, digital, and equity investment.
Malaysia is Australia’s 11th largest two-way goods and services trading partner, worth A$32.8 billion in 2024.
Based on Australian data, Australian investments in Malaysia in 2024 amounted to A$8.76 billion, with a foreign direct investment (FDI) of A$4.44 billion. Malaysian investments in Australia in 2024 totalled A$24.08 billion, with FDI of A$14.11 billion.
-- BERNAMA
