KUCHING: The Sarawak Australia Business Chamber (SABC) and the Australia Malaysia Business Council (AMBC) Australian Capital Territory (ACT) recently signed a Memorandum of Understanding (MoU) in Canberra, Australia, to establish a framework for collaboration and cooperation.
According to a statement issued by SABC on Saturday, the agreement aims to promote bilateral trade, investment, business activities (including tourism and sports) and relations between Sarawak (Malaysia) and the ACT.
“Both parties acknowledge their shared objectives and common goals to enhance economic relations, foster business growth, and facilitate mutually beneficial opportunities.
“The aim is to facilitate businesses from the Australian Capital Territory looking to expand or invest in Sarawak and the region, while also serving as a conduit for Sarawak-based companies seeking opportunities in the Australian Capital Territory.
“The MOU was exchanged in Canberra, Australia, between SABC President, Rodger Chan Siong Boh, and AMBC ACT President, Khushwant Dhanoa, witnessed by the Malaysia High Commissioner to Australia, Datin Paduka Sharrina Abdullah, and the Youth, Sports and Entrepreneur Development Minister cum Tourism, Creative Industry and Performing Arts Minister, Datuk Seri Abdul Karim Rahman Hamzah,” it said.
Under the agreement, both parties will explore collaborative initiatives, such as facilitating business expansion and investment in both regions.
They plan to identify and facilitate high-growth business for collaboration, starting with green economy and renewable energy, education and capacity building, tourism and sport tourism, agriculture and food industry and other businesses as may be identified from time to time.
Additionally, the chambers will facilitate business matching sessions and B2B meetings to encourage direct engagement and partnerships between companies from ACT Australia and Sarawak/Malaysia, focusing on industries of mutual interest.
The MoU also involves organising and cooperating in events, forums, conferences, trade shows and exhibitions to showcase products and services from Sarawak and Australia, fostering increased bilateral trade and investment.
Besides that, joint research and development projects will also be conducted to identify new areas of cooperation and potential business ventures between the two regions.
