Saturday June 30, 2012
Matrade seeks opportunities in Australia after FTA signing
MELBOURNE: Malaysia will step up its drive to find new trade opportunities in Australia following the recently signed free trade agreement (FTA) between the two countries, said Malaysian External Trade Development Corp (Matrade) chief executive officer Dr Wong Lai Sum.
Wong, who held meetings with business and corporate leaders here, said that several industries in Australia offered market opportunities to Malaysian companies.
“The building and construction sector in Australia is a lucrative market and needs a lot of products which we can supply, especially to the rich mining towns in the states of Western Australia, Queensland and South Australia.
“Mafta (Malaysia-Australia Free Trade Agreement) will make it easy for our companies to venture into the Australian market,” she said.
Wong, who was accompanied by Matrade director Ong Yew Chee, said the cross-flow of investments would open the door to trade liberalisation between the two countries.
She said Mafta could result in more Australian interest in Malaysia in areas such as banking and finance, law, business consultancy, architecture and insurance. - Bernama