- Ai Group and Federation of Malaysian Manufacturers renew MoU to boost bilateral manufacturing cooperation.
- Focus areas include joint trade missions, investment facilitation, and upskilling initiatives.
- Partnership strengthens supply chain resilience and expands market access in the Indo-Pacific region.
The Australian Industry Group (Ai Group) has renewed its enduring collaboration with the Federation of Malaysian Manufacturers by signing an MoU that seeks to enhance economic relationships and foster deeper business cooperation between the two countries.
The statement is made on the occasion of the 70th anniversary of diplomatic ties between Australia and Malaysia, highlighting a bilateral economic partnership valued at more than $30 billion each year.
The agreement, signed in Sydney by Tan Sri Dato’ Soh Thian Lai, President of FMM, and Louise McGrath, Head of Industry Development and Policy at Ai Group, strengthens a connection that has existed since 1991.
Representing Ai Group CEO Innes Willox, McGrath joined her Malaysian equivalent to emphasize their mutual dedication to promoting industry success and facilitating regional economic integration.
“This partnership marks a significant step forward in enhancing cross-border collaboration and creating new opportunities for our members,” said Tan Sri Dato’ Soh Thian Lai.
“By working together, we can better support our industries in navigating global challenges and unlocking new growth potential,” Willox added.
With the renewed agreement, both organizations have committed to various areas of cooperation, such as sharing information regarding business opportunities, jointly participating in trade events, providing logistical support for visiting members, and collaborating on training and certification initiatives.
The MoU encompasses actions aimed at fostering strategic collaborations and easing investment projects among member firms from each nation.
The connection between the two manufacturing organizations illustrates the larger economic development between Australia and Malaysia, a link supported by partnerships among notable Australian firms such as Blackmores, Bluescope, and Cochlear that have significant operations in Malaysia.
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Ai Group emphasized the importance of such collaborations in assisting Australian companies to broaden their export markets and connect with neighbors in the Indo-Pacific area.
“This MoU with FMM is an example of how we can position our industries to thrive in an increasingly complex and interconnected global economy,” Willox said.
The pact will additionally foster initiatives for knowledge-sharing and enhance manufacturing capabilities in both markets.
As international supply chains face mounting pressure and competition intensifies throughout Asia, the revitalized partnership provides both nations a chance to enhance resilience and strengthen strategic alignment across various industrial sectors.