Sam Lim (Tangney, Australian Labor Party) Share this | Link to this | Hansard source

Recently I attended an event hosted by the Australia Malaysia Business Chamber. Australia and Malaysia have a longstanding friendship built on shared history, exceptional people-to-people links and strong bilateral cooperation from World War II through to our response to the COVID-19 pandemic. This year, 2023, marks 68 years of Australia's diplomatic presence in Malaysia.

Not long after the election, in June 2022, the Australian Minister for Foreign Affairs, Senator the Hon. Penny Wong, travelled to Kuala Lumpur and Kota Kinabalu in Sabah, a region with longstanding ties to Australia and a region where the foreign minister was from. During the visit, Foreign Minister Wong reaffirmed Australia's commitment to being comprehensive strategy partners and discussed economic recovery, climate action, education ties and health security. The visit showcased the deep and enduring friendship between Australia and Malaysia.

It is no secret that Malaysia is one of Australia's key trading partners, and the two countries have a longstanding relationship. In recent years, there has been a renewed focus on strengthening this relationship, with both countries recognising the benefits of increased trade and investment ties. Australia is committed to engaging with Malaysia and the ASEAN region more broadly to facilitate trade and investment flows. This includes exploring new opportunities to expand our already strong trade and investment relationship, including through the Malaysia-Australia Free Trade Agreement, MAFTA.

MAFTA is a comprehensive and high-quality agreement that further integrates the Australian economy into the fast-growing ASEAN region. This agreement entered into force in January 2013 and grew on the benefits already flowing to the Australian economy from the ASEAN-Australian-New Zealand Free Trade Area. Malaysia is also a party to both the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Australian businesses can use one of the four trade agreements to trade with Malaysia. These multiple channels and pathways for trade to take place between Australia and Malaysia go to show how both countries value cooperation and continue to endeavour to build platforms to collaborate.

Our geographical links are what naturally draw our two countries together, as Australia is within the neighbourhood of ASEAN countries. This has allowed for businesses in many industries to flourish and for opportunities to arise. But we cannot simply rest on our laurels and rely on our past accomplishments. We must continue to work together to build on the strong foundation that has been laid before us and to look forward to the future with a sense of shared purpose and optimism. This is why the Australian government is committed to deepening our ties of friendship and cooperation in the years ahead. Whether it is through increased trade or investment, through cultural or educational exchange programs or through joint efforts to address global challenges such as climate change and terrorism, we have a shared responsibility to work towards a better future for our region and for our neighbourhood.

The Australian government has recognised the importance of building strong business ties between Malaysia and Australia by providing support and resources to businesses looking to expand their operations in Malaysia and the ASEAN region. Through our trade and investment agency, Austrade, we offer a range of services, including market intelligence, business matching and trade missions. Australia and Malaysia share a long history of economic and cultural ties, which has been further strengthened by our shared geography and a common interest in regional stability and prosperity. It is through organisations such as the Australian Business Chamber, which plays a crucial role in fostering trade networks and people-to-people relationships between our two countries, that opportunities for trade arise. I look forward to seeing more pathways and opportunities created for the business community to flourish in both Australia and Malaysia, building on our commitment to the future of our shared prosperity and cooperation.

House adjo urned at 17:00

The DEPUTY SPEAKER ( Ms Payne ) took the chair at 09:30.