KUALA LUMPUR: Bilateral trade between Malaysia and the Organisation of Islamic Cooperation (OIC) countries is expected to rise by 19% by the end of this year and by 25% next year, said International Trade and Industry (Miti) Minister Datuk Seri Mustapa Mohamed.
“Today, OIC countries’ share of global merchandise trade is still low. We are still trading with other countries (non-Islamic nations).
“Because of this, Malaysia has successfully signed a bilateral free trade agreement (FTA) with Turkey and Pakistan as a catalyst to boost bilateral trade between the Muslim nations,” he said.
He said Muslim nations had much to offer to the world, as they always had, from knowledge and resources to culture and products.
“And now, the Muslim world also has big opportunity in the halal economy and in trade and investment in halal goods and services.
“This opportunity should not be missed by OIC nations as many non-Islamic nations are already seeing the profit in this industry...Read More