Australian High Commissioner urges Australian companies to invest and trade with Malaysia

KUALA LUMPUR 22 March 2006 - The Australian High Commissioner to Kuala Lumpur, HE. James Wise, and Senior Trade Commissioner, Peter Kane, recently returned from a roadshow in Australia where they spoke to a total of 770 business people about Malaysia's attractiveness as a destination for Australian investment and exports.

In 11 working days they briefed 15 separate groups of business people in 13 Australian cities: Canberra, Brisbane, Gold Coast, Newcastle, Sydney, Hobart, Launceston, Melbourne, Geelong, Ballarat, Adelaide, Perth and Rockingham.

In addition, they had dozens of appointments with individual companies.

"Malaysia's relative attractiveness as a trade and investment partner for Australian companies is not known widely enough," Wise said.

"On the whole, Australian companies that have invested and traded with Malaysia have done very well. But many Australian companies, especially SMEs, have not yet explored opportunities here. They don't know Malaysia. So they can't be expected to know why other Australian companies have found Malaysia so attractive.

"We had several messages for our audiences. Three of them seemed to make the most impact.

"First, that Malaysia's economy has been performing well and that the prospects for continued growth are very good. Australian business people were impressed by information on Malaysia's trade performance and investment incentives.

"Second, that Malaysia offered Australian SMEs in particular a 'right-size' market. In other words, a market that is strong but not of the daunting size and complexity of China or India. Such a market does not demand that first-time exporters or investors move dramatically from their comfort zone.

"Third, that Malaysia offers a business environment that is more familiar to Australians than just about anywhere else in the world. Only New Zealand and, possibly, Singapore are more Australia-familiar, or Australia-friendly. Many Malaysian laws and regulations are similar to, and even based on, Australian legislation and rules.

"On top of that, the presence of 250,000 Malaysians with an Australian education means that Australian companies will be able to find a Malaysian partner, agent, distributor, consultant or employee who knows Australia well. The learning curve is so much easier, and the cost therefore much lower," said Wise.

Kane used the roadshow to alert Australian companies to specific export opportunities in Malaysia, drawing on information provided by Malaysian companies that are looking for an Australian supplier.

"I am very encouraged by the number of Australian companies that, as a result of our presentations, have quickly met the requirements of Malaysian importers. I would encourage Malaysian companies who are looking for Australian goods or services, or for Australian investment, to contact me. It is Austrade's job to try to find you the right Australian partner," said Kane.