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Ministry of International Trade and Industry Malaysia Official Blog

Malaysia, Saudi Arabia To Boost Bilateral Trade and Economic Relations

Posted by admin2 on June 23, 2015 at 12:59 pm
 
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Geneva, December 14 - YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry, met with His Excellency Mohamed Al Khatiri, Deputy Minister of Commerce and Industry of Saudi Arabia, in Geneva at the sidelines of the World Trade Organisation  meeting.
 
At the discussion, both leaders agreed to take more active measures to strengthen trade and investment relations between the two countries.
 
In 2010, Malaysia’s total trade with Saudi Arabia increased by 38% to US$2,896 million from US$1,923 million in 2009. From January to October this year, total trade between the two countries reached US$3,454 million compared to US$2,205.44 million in the corresponding period in 2010.
 
At the bilateral meeting, YB Dato’ Sri Mustapa suggested that the Malaysia-Saudi Business Council organize more familiarization programmes for officials and businessmen from the two countries.  Dr Khatiri said that there are many opportunities for Malaysian companies to do business in Saudi Arabia, especially in the construction sector, as a result of the implementation of the government’s extensive development programme.
 
YB Dato’ Sri Mustapa also proposed the creation of a Joint Economic and Trade Committee (JETC) to bring bilateral trade and economic relations to a higher level. The Saudi Deputy Minister endorsed the proposal and said the Saudi Government looks forward to supporting initiatives in this regard.
 
YB Dato’ Sri Mustapa Mohamed is in Geneva from the 14th to the 17th of December to attend WTO meetings.


 

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