The Edge Financial Daily reported today that Malaysia and Australia signed their first free trade agreement recently. A lot of tariffs will be eliminated across a variety of sectors, benefiting the businesses of both nations.
Honestly, as a civilian, I simply cannot wait to see the changes that will occur come 1 Jan 2013, when the agreement takes effect. So as I sit here, I let my imagination run wild at the possibilities of this free trade agreement.
For one, it will be particularly interesting to witness the dramatic transformation of the local education scene. The agreement allows Australian investors to hold 100% ownership in education services in Malaysia in 2015. Currently, a lot of PHEIs (private higher education institutions) in Malaysia offer 2 + 1 or 3 + 0 Bachelor Degree programmes in affiliation with universities in Australia. And it is quite obvious how many Malaysian parents prefer to send their children to Australia, because it is quality education, somewhat closer to home. Probably, we will be able to witness Australian universities setting up campuses here in Malaysia, making Australian education extremely affordable. Students who decide to further their education in Australia would not only have to fork out the college fees, but also accommodation and living allowances. So having Australian universities on home ground would definitely be an advantage at a fraction of the cost, now that they would not need to charge in AUD.
Also, we would be able to see a change in the telecommunications industry. This is a fresh and welcome change. With the Australians injecting their investment into our telecommunications industry, we’d be able to enjoy more variety in telecommunication packages with companies like Telstra coming in. Oh, then again, might there be a conflict with Celcom because they share the same corporate colour? Maybe, just maybe, we’d be able to see a JV between Telstra and Celcom - Celstra? Just a thought.
For trainers and consultants, bigger job opportunities with internationalized options can crop up. With the Aussies able to hold 100% ownership in management consulting firms, Malaysian consulting firms should start pulling up their socks. The competition might be rocky. On the other hand, we’d probably be seeing more Malaysian-based companies go Australian. And since the tariffs will be eliminated for Australian automotives as well, we’d be able to see more Australian cars on the road. Some Holdens, perhaps? It would be a good addition to the current local automative scene, though I doubt Perodua would have to worry about any competition, with it’s expansive line of products. Another JV maybe?
Got milk? We civilians would probably realize some changes when we walk into shops and hypermarts to do our weekly shopping. With the tariffs for Australian milk and processed foods eliminated, we’d be spoilt for choices! Australian milk brands like Dairy Farmers would be sitting next to our very own Dairy Milk products. Well, then again, since most of Australia’s leading milk brands are controlled by foreign owned multinationals anyway, we’d probably have a whole range of internationalized milk products. How fun!
Hmm, I think I very much welcome this potential change. Here’s to the possibility of an Australianized Malaysia, mates!
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