Mr Murray, Executive Director of the Council said today ‘’the timing of the agreement was particularly good. Exporters are having a tough run given the Global Financial Crisis still hovers above our heads and the high Australian dollar has had a detrimental impact on margins, which usually results in the loss of jobs.” Asia is Australia’s biggest trading partner and Malaysia is the eighth biggest in the region.
“Complacency,” Mr Murray said “must not creep onto the agenda. As the USA, the UK and many other European governments are putting substantial resources behind their export drive into Asia. This agreement and those to follow, including the Trans Pacific Partnership are vital to Australia’s wellbeing. They demonstrate not only Australia’s commitment to the region but its recognition of being part of the Asian Century.”
There are two areas of great importance in this agreement. Firstly, the opportunity for service exports including education, telecommunications and professional services and secondly the new arrangement for Australian equity in Malaysian companies. Australian Senior Management will also now find it easier to work in Malaysia.
Mr Murray said “Overall, this is good step for exporters and the Export Council of Australia looks forward to seeing further progress made on agreements with our Asian neighbours and trading partners, including the long anticipated China and Japan agreements.”
Ian Murray
Executive Director
Export Council of Australia
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