The State Government has struck an agreement to establish a South Australia-Penang Joint Working Group to develop new investment and trade opportunities with South East Asia.
The signing between The Chief Minister of Penang Lim Guan Eng and Minister for Investment and Trade Martin Hamilton-Smith occurred during a Malaysian delegation to Adelaide.
It focused on developing mutually beneficial partnerships in key growth sectors including education, creative industries, the arts, advanced manufacturing, health and aged care.
“South Australia is keen to develop engaging partnerships with South East Asian countries like Malaysia,” Mr Hamilton-Smith said.
“Penang and South Australia are well developed economic states and have ambitious agendas in building innovative and entrepreneurial economies.
“Both recognise the importance of mutually beneficial partnerships and the South Australian Government will host two delegations to South East Asia this year.
“South Australia shares historical links with Malaysia, including Adelaide’s sister-city relationship with George Town, Penang.
“Working with Penang plays a critical role in establishing business relationships that foster trade and investment between our two jurisdictions,” Mr Hamilton-Smith said.
“We must continue to build resilient, mutually beneficial relationships with the region.”
“The South East Asia region represents significant economic and cultural development opportunities for South Australia.”
The Penang delegation networked with South Australian counterparts, business representatives and government officials.
Mr Hamilton-Smith said it’s important that South Australian industry and small to medium enterprises continue to showcase their innovative capabilities and premium products.
“Not just for business opportunities, but also for tourism and migration purposes,” Mr Hamilton-Smith said.
“By cultivating relationships that not only span economic policies but cultural and recreational activities, we can bring strong economic rewards and employment to our regions.”
“The State Government will continue to work with Penang and Malaysia, to explore investment opportunities and economic alliances.
“Missions like this one, and the significant calendar of activity we will be undertaking this year, go a long way towards us establishing further ties with our international neighbours.
“We want to show the world that South Australia is the best place to do business and that our door is always open.”
For a full list of 2016 international missions or to register interest in participating in one, visit: http://www.statedevelopment.sa.gov.au/investment/business-missions#register