Keeping trade between Malaysia and Australia active and alive especially during the pandemic will bode well for both countries in the long-term, says Nordin Abdullah, Managing Director of Glenreagh Sdn Bhd, a business consulting firm in Kuala Lumpur. Nordin also serves at the Malaysian Australian Business Council as an exco member.
“The import and export business between both nations are impacted by the prolonged pandemic but a lot of export related industries between Malaysia and Australia are still able to operate as usual as they are deemed critical to the supply chain.
“Two-way trade between both countries continue to be important for the economic well-being of both countries. Therefore, food and minerals are still an important aspect of trade between these two nations,” he said.
He added ,”Education, as a service that is exported out of Australia, is important. While many Malaysians are unable to attend schools and Universities in Australia, they are doing so online, which represents a considerable amount of export of services that will remain vibrant,” says Nordin.
He says the pandemic has adversely affected many industries especially the travel and the airline industry but it has not affected two-way trade between both countries.
He says despite the pandemic, the relations between Malaysia and Australia were very strong but it is time to forge greater economic relations through virtual and online platforms.
On imports from Australia, Noordin said that there were a considerable amount of Australian food products on the shelves in Malaysia and this is due to the initiatives of the Ministry of Transport in Malaysia together with Australian stakeholders.
“It allowed for imports of fresh products from Australia to come at a fast enough pace to reach the shelves in Malaysia due to the good relationship between both nations.
“I believe this is to ensure that the food security of neighbouring ASEAN members is not compromised during the Covid 19 pandemic.”