ID :
27911
Sat, 11/01/2008 - 14:15
Auther :
Shortlink :
https://www.oananews.org//node/27911
The shortlink copeid
BILATERAL TRADE BETWEEN M'SIA & AUSTRALIA UP 20.3 PCT
KUALA LUMPUR, Nov 1 (Bernama) -- Bilateral trade between Malaysia and Australia increased 20.3 percent to RM24.3 billion for the first eight months of this year compared with RM20.2 billion over the same period last year.
International Trade and Industry Minister, Muhyiddin Yassin said Australia
ranked as Malaysia's 11th largest trading partner last year, with bilateral
growing three folds from RM11.6 billion in 1998 to RM30.6 billion in
2007.
"Malaysia and Australia have enjoyed a very cordial bilateral relationship
and this is reflected in our trade and investment numbers," Muhyiddin said in
his keynote address at the Malaysia-Australia Business Council 2008 Annual
Dinner, here Friday.
Also present were Australian High Commissioner to Malaysia, Penny Williams,
who is also co-patron of the (MABC).
In the area of investments, he said Malaysia approved 12 investments in
Australia amounting to US$100 million last year from US$91.3 million in
2006.
The investments included equity investments and purchase of real estate in
Australia.
"As we re-engage in the Malaysia-Australia Free Trade Agreement (FTA), I am
confident that we can take our economic relations to yet another higher level,"
he said.
So far this year, 15 small and medium scale enterprises (SMEs) with
Australian equity have received grants from the Small and Medium
Industries Development Corporation (SMIDEC).
He said seven of these grants were awarded for Product and Process
Improvement and eight for Certification and Quality Management Systems.
The minister Friday also called on industry players to bring up any
concerns
with his ministry as soon as the issues arise.
"This will ensure that we nip them in the bud and not allow them to fester
and impact on bilateral trade and economic relations," he added.
Muhyiddin also presented the Business of the Year Award to GHD Perunding
Sdn Bhd and the SME of the Year Award to Wotif.com.
GHD Perunding is an engineering consultancy and project management services
provider while Wotif.com is an online accommodation service provider.
Previous winners of these prestigious awards include Monash University
Sunway Campus (2007), accounting software company, MYOB Asia Sdn Bhd (2006),
Mulpha International Bhd (2005), BlueScope Steel Malaysia Malaysia (2004) and
Leighton Contractors (Malaysia) Bhd (2003). (US$1=RM3.5)
International Trade and Industry Minister, Muhyiddin Yassin said Australia
ranked as Malaysia's 11th largest trading partner last year, with bilateral
growing three folds from RM11.6 billion in 1998 to RM30.6 billion in
2007.
"Malaysia and Australia have enjoyed a very cordial bilateral relationship
and this is reflected in our trade and investment numbers," Muhyiddin said in
his keynote address at the Malaysia-Australia Business Council 2008 Annual
Dinner, here Friday.
Also present were Australian High Commissioner to Malaysia, Penny Williams,
who is also co-patron of the (MABC).
In the area of investments, he said Malaysia approved 12 investments in
Australia amounting to US$100 million last year from US$91.3 million in
2006.
The investments included equity investments and purchase of real estate in
Australia.
"As we re-engage in the Malaysia-Australia Free Trade Agreement (FTA), I am
confident that we can take our economic relations to yet another higher level,"
he said.
So far this year, 15 small and medium scale enterprises (SMEs) with
Australian equity have received grants from the Small and Medium
Industries Development Corporation (SMIDEC).
He said seven of these grants were awarded for Product and Process
Improvement and eight for Certification and Quality Management Systems.
The minister Friday also called on industry players to bring up any
concerns
with his ministry as soon as the issues arise.
"This will ensure that we nip them in the bud and not allow them to fester
and impact on bilateral trade and economic relations," he added.
Muhyiddin also presented the Business of the Year Award to GHD Perunding
Sdn Bhd and the SME of the Year Award to Wotif.com.
GHD Perunding is an engineering consultancy and project management services
provider while Wotif.com is an online accommodation service provider.
Previous winners of these prestigious awards include Monash University
Sunway Campus (2007), accounting software company, MYOB Asia Sdn Bhd (2006),
Mulpha International Bhd (2005), BlueScope Steel Malaysia Malaysia (2004) and
Leighton Contractors (Malaysia) Bhd (2003). (US$1=RM3.5)
