SYDNEY: The Australia Malaysia Business Council (AMBC) New South Wales (NSW) and the Sarawak Australia Business Chamber (SABC) have established a strategic partnership to enhance and promote trade, investment, and business activities between Sarawak and Australia.
The memorandum of understanding (MoU) was signed on Thursday (Aug 29) witnessed by Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg, who accepted the request to be the chief patron of SABC.
Representing SABC was its president Rodger Chan Siong Boh while AMBC NSW was represented by its president Philip Low.
The MoU outlines a range of collaborative initiatives that the parties will explore, including facilitating businesses from Australia seeking to expand or invest in Sarawak and the region and acting as a conduit for Sarawak-based businesses looking to expand or invest in Australia.
Also, identifying and fostering high-growth business collaborations, starting with key sectors such as the green economy and renewable energy, education and capacity building, tourism and sports tourism, agriculture, and the food industry, with the potential to expand into other sectors as opportunities arise.
Not to mention, organising business matching sessions and B2B meetings to support direct business engagement and partnerships between companies in New South Wales, Australia, and Sarawak or Malaysia, with a focus on industries of mutual interest.
The MoU also includes coordinating or collaborating on events, forums, conferences, trade shows, and exhibitions to showcase products and services from Sarawak and Australia, thereby fostering increased bilateral trade and investment.
Conducting joint research and development projects to identify new areas of cooperation and potential business ventures between the two regions is also part of the agreement.
This strategic partnership is poised to create new opportunities for businesses in both Australia and Sarawak, strengthening the economic ties between the two regions.
For the record, SABC is a chamber of commerce and industry registered with the Registrar of Society Malaysia which serves as a platform for members to enhance trade and relations between Sarawak and Australia.
SABC has established linkages and signed MOUs with AMBC which includes AMBC Victoria and AMBC Queensland.
At the same time, SABC is a founding member and lead partner to the Borneo Economic Community, which consists of community, government and business leaders from Kalimantan, Brunei, Sarawak, Sabah and Sabah.
