The Province of British Columbia, Canada, will open a new Trade and Investment Representative Office in Johor Bahru, Malaysia, in early 2017 to help develop constructive and productive trade and investment opportunities in this important ASEAN (Association of Southeast Asian Nations) economy.
British Columbia's Minister of Finance Michael de Jong, made the announcement following an audience with His Majesty Sultan Ibrahim and members of the Johor State Cabinet. His Majesty then hosted a dinner in Johor Bahru attended by senior government officials and business executives.
Minister de Jong is on a trade mission to Malaysia from Nov. 1-3, 2016, to promote British Columbia’s strong economy and explore opportunities to further bilateral economic relations between the Province and Malaysia. Opportunities include the recently approved Pacific Northwest LNG project spearheaded by Malaysian oil and gas company, PETRONAS, as well as B.C.’s aviation, aerospace and finance sectors.
“British Columbia has a strong appreciation for Malaysia’s status as an economic powerhouse within the ASEAN region,” said de Jong. “A B.C. trade and investment representative office strategically located in Johor, a fast-growing region of Malaysia that also happens to be situated adjacent to Singapore, a global commercial and financial hub, will play a key role in fostering those ties.”
The Malaysia office will be the Province’s third in the ASEAN, joining B.C.’s trade and investment representative (TIR) office in Manila, Philippines, and a second office recently opened in Jakarta, Indonesia. The Jakarta office, which opened in July 2016 is managed by Ms. Vira Soekardiman, and offers B.C. companies strategic connections with Indonesian firms and access to information about the Indonesian market. When the Malaysia office opens in early 2017, it will help to strengthen B.C.’s ability to take advantage of the growing business opportunities in this region.
The new trade offices are part of the Province’s plan to grow trade with the ASEAN region and build on the BC Jobs Plan commitment to double B.C.’s trade presence in key markets.
“By having a trade presence in Indonesia and Malaysia, we are providing B.C. companies with access to on-the-ground experts who can help them succeed in both emerging markets,” said Teresa Wat, Minister of International Trade and Minister Responsible for Asia Pacific Strategy and Multiculturalism. “Helping B.C. companies build relationships with key partners in the ASEAN will generate new business opportunities, increase exports and attract investment in key sectors, which helps create jobs at home in B.C.”
ASEAN is a regional organization of 10 member countries that is headquartered in Jakarta. Some of the other member countries include Thailand, Singapore, and the Philippines. Together, ASEAN markets rank fifth among destinations for B.C. goods exports.
When the Malaysia office opens, B.C. will have 14 TIR offices located around the world. This international network connects B.C. businesses with new markets and trade opportunities and promotes British Columbia as a stable and attractive destination for investment.
For more information about B.C. trade and investment opportunities, visit: http://www.britishcolumbia.ca/
Learn more about the BC Jobs Plan at: http://engage.gov.bc.ca/bcjobsplan/files/2014/09/BC-Jobs-Plan.pdf