Malaysia Australia FTA Welcomed

Friday 2nd November, 2012

The Australian Chamber of Commerce and Industry, Australia's largest and most representative business organisation, has welcomed the entry into Parliament of legislation for the Malaysia – Australia Free Trade Agreement, following consideration by the Joint Standing Committee on Treaties.

"It appears to be a beneficial agreement which will advance the bilateral trading arrangements between our two countries."

"This agreement broadly builds on the advances made in the previously existing Australia - ASEAN – NZ Free Trade Agreement (AANZFTA) so in that respect is AANZFTA plus," said Bryan Clark, ACCI Director of Trade and International Affairs.

"The agreement provides for increased tariff free access to the Malaysian market for Australian exporters and also improved access for service industries and investment by Australian companies."

"It is broadly based with benefits for the agricultural sector as well as automotive, iron and steel industries. The services sector will see benefits for education, financial, telecommunication and other professional services. The agreement also covers improvements in visa access for some people and improved access for Australians working in Malaysia."

"Malaysia is a valuable market in close proximity to Australia and we would encourage exporters and investors to have a close look at doing business in Malaysia," Mr Clark said.

For Further Information:
ACCI Director of Trade and International Affairs: Bryan Clark 0428 645 232