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Ministry of International Trade and Industry Malaysia Official Blog

MUSTAPA: MALAYSIA WILL COLLABORATE WITH IDB TO BRING IN INVESTMENTS FROM OIC MEMBER COUNTRIES

Posted by admin2 on June 23, 2015 at 12:42 pm
 
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Geneva, December 15 - Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry, met with Dr Ahmad Mohamed Ali, President of the Islamic Development Bank at the sidelines of 8th World Trade Organization Ministerial Conference in Geneva. The    Islamic    Development    Bank Group (IDB Group) is a South-South multilateral    development    financing institution comprising five entities, namely: (i) the Islamic Development Bank (IDB); (ii) the Islamic Research and Training Institute (IRTI); (iii) the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC); (iv) the Islamic Corporation for the Development of the Private Sector (ICD); and (v) the International Islamic Trade Finance Corporation (ITFC). IDB is based in Jeddah and was founded in 1975.
 
At the meeting, Dato’ Sri Mustapa discussed with the IDB President the programme details for a high-level forum that will bring together top business leaders from OIC member countries. This forum will be the Islamic Development Bank Group - Malaysia Forum. They have agreed that the forum should be held in April 2012. “We hope this forum will be successful in assembling at least 200 top business leaders from OIC member countries. While Malaysia is a recipient of investments from OIC member countries, we believe that there is a huge potential of investments from these countries that is not fully exploited,” says Dato’ Sri Mustapa.
 
Dato’ Sri Mustapa is confident that such a forum will contribute towards increasing intra-OIC investment and trade flows and enhancing Malaysia’s profile as a premiere investment destination.
 
Additionally, the Minister commented that Malaysia will take full advantage to familiarise Malaysian companies, especially Small and Medium Entreprises, with the IDB and its services in areas such as trade financing.
 
Mustapa also offered to share Malaysia’s experience to OIC member countries  seeking accession into WTO. Currently, there are 14 OIC member countries seeking accession into WTO.
 
Yesterday, Mustapa met the Deputy Minister of Commerce and Industry of Saudi Arabia and has discussed ways to increase bilateral trade and investments between the two countries.


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