Sarawak welcomes Aussie firms to explore investment opportunities

16 Feb 2023

Australian companies are most welcomed to explore investment opportunities in Sarawak, said Deputy Premier Datuk Amar Awang Tengah Ali Hassan.

“I hope that both Sarawak and Australia can further strengthen our investment and trade relationships so as to create a win-win situation for all parties,” said Awang Tengah who is also Minister of International Trade, Industry and Investment (Mintred).

He shared this with the press after receiving a courtesy call from Western Australia Investment and Trade Commissioner (ASEAN) Krista Dunstan.

During the courtesy call, he and Dunstan exchanged ideas and views on a variety of subjects where Sarawak and Australia can collaborate such as hydrogen economy, education, renewable energy, tourism, forestry management, biodiversity and agriculture.

Awang Tengah also disclosed that the total trade between Sarawak and Australia increased 56 per cent in 2022 (AU$1.87 billion or RM5.67 billion) as compared to 2021 (AU$1.21 billion or RM3.69 billion).

Sarawak’s export to Australia was valued at AU$0.95 billion (RM2.9 billion), mainly for crude petroleum, fertiliser, plywood and vessels while the value of our import from Australia was AU$0.89 billion (RM2.7 billion), mainly for aluminium ores, concentrate and wheat, he said.

“As the trade volume is relatively small, there is indeed room for more trade activities between Sarawak and Australia,” he pointed out.

Awang Tengah also shared with Dunstan on Sarawak’s huge forest areas which have the potential for carbon credit trading, besides moving the industry towards high value downstream timber-based industry.

Also present during the courtesy call were advisor to Mintred Datuk Mohd Naroden Majais; acting permanent secretary to Mintred Dzulkornain Masron; Honourary Consul for Australia in Sarawak Datuk Philip Ting and Sarawak Economic Planning Unit representative Lo Sheau Sia.

Source: Borneo Post