KUALA LUMPUR (Aug 13): Australia expects the bilateral trade and investments in Malaysia, which currently stands at around A$30 billion, to further increase as the country continues to be an attractive investment destination, particularly under the new reformist Pakatan Harapan government and the advice provided by the Council of Eminent Persons (CEP).

"As a comment, I would say that the new Malaysia and particularly the Malaysia that is being developed through the reform which is being brought forward under the advice of the council will make Malaysia an attractive investment destination," Australia High Commissioner to Malaysia Andrew Goledzinowski told reporters after a 90-minute meeting with the CEP chaired by former Finance Minister Tun Daim Zainuddin at Ilham Tower here today.

Earlier, Goledzinowski, together with seven eminent persons from Australia, had a meeting with the CEP to share experiences and exchange ideas on public service matters and institutional reform.

The eminent persons from Australia are former secretary of finance Jane Halton, former chairman of Productivity Commission Garry Banks, former Australian Public Service Commissioner Lynelle Briggs, first secretary Damian Hickey, and education experts: Bruce Chapman, Wendy Jarvie and Mike Gallagher.

"[The] sorts of issues covered were how the Australian budget matters, formulated the way the Australians solve problems of public finances, healthcare and transparency," he said.

At the same time, Goledzinowski said the Australian eminent persons team also discussed several aspects of tertiary education, particularly student loans and financing.

"We are able to exchange some experiences on how those two systems work, the benefits and disadvantages of each of them," he added.

Goledzinowski said the Australian team of eminent persons also had a dialogue on institutional reforms, which is an important aspect to ensure a transparent government.

"For example, Australia had introduced a charter of budget of honesty which allows the public to have a better say on how the promises can be judged, particularly in the lead-up to election," he added.

Goledzinowski also shared that Australia has created a parliamentary budget office to provide an objective analysis on budget proposed by both sides of the political divide, namely the alliance and the opposition side.

"(This is) so that the promises made by the government or the opposition can be objectively assessed by the public," he added.

In 1998, Australia established Charter of Budget Honesty Act, a prominent piece of legislation to encourage transparent fiscal reporting by requiring fiscal strategy to be based on principles of sound fiscal management.

Going forward, Goledzinowski said the members of the Australian Eminent Persons have expressed their interest for follow-up.

"At a minimum, we would like to build bridges between our respective institutions so that follow-up can happen without the necessity for the high level meeting to happen every time," he added.