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The trade volume between Malaysia and Australia in 2023 is approximately A$27 billion, cementing Malaysia’s position as Australia’s second largest ASEAN trading partner.
Malaysian Prime Minister Anwar Ibrahim said bilateral trade relations continued to develop, covering commodities such as hydrocarbons, coal, palm oil and refined copper.
He pointed out that economic cooperation between Malaysia and Australia will be further strengthened, especially under the four major economic frameworks, including the world’s largest free trade agreement, the Regional Comprehensive Economic Partnership and the Indo-Pacific Economic Framework. Cooperation between the two countries will bring new opportunities in areas such as digitalization, renewable energy, agricultural product processing and minerals.
Anwar stressed that the relationship between the two countries has been upgraded to a comprehensive strategic partnership, spanning multiple fields, including economic, diplomatic, security and cultural ties.
(Source: Bernama Image source: freepik)
