SET TO GROW

Trade be­tween two coun­tries ex­pected to reach dou­ble dig­its this year, says Mustapa

New Straits Times - - Business -

KUALA LUMPUR

TRADE be­tween Malaysia and Laos is ex­pected to grow to dou­ble dig­its this year, says In­ter­na­tional Trade and In­dus­try Min­is­ter Datuk Seri Mustapa Mo­hamed.

While ex­press­ing con­fi­dence in the growth fore­cast, he said this was on the back of Malaysia’s trade with Laos, which was see­ing an up­ward trend.

“Last year, to­tal trade be­tween our coun­tries grew 76 per cent to US$30.9 mil­lion (RM134 mil­lion), from 2015.”

Malaysian com­pa­nies were cur­rently in­volved in in­fras­truc­ture de­vel­op­ment and real estate, and were ac­tive in in­dus­trial parks there, he said, adding that Malaysia was one of the top four in­vestors in Laos.

Mustapa was speak­ing on the side­lines of the Malaysia-Laos Busi­ness Fo­rum here yes­ter­day.

He said mov­ing forward, among key ar­eas Malaysia was tar­get­ing to boost were in the ex­ports of prod­ucts such as build­ing ma­te­ri­als, ma­chin­ery and tools, as well as con­sumer and dis­pos­able med­i­cal prod­ucts.

“The agri­cul­ture and tourism sec­tors in Laos are ripe for Malaysian com­pa­nies to in­vest in.

“In a meet­ing be­tween Prime Min­is­ter Datuk Seri Na­jib Razak and Laos Prime Min­is­ter Dr Thon­gloun Sisoulith, the lat­ter ad­vised Malaysian com­pa­nies to ex­plore in­vest­ing in the pri­vate healthcare sec­tor in Laos.”

Mustapa said Malaysia cur­rently had four banks oper­at­ing there, start­ing with Public Bank in 1996.

The other Malaysian banks are May­bank, CIMB and RHB Bank, as well as more than 25 Malaysian com­pa­nies with busi­nesses in Laos.

The fo­rum, at­tended by 400 par­tic­i­pants, was held in con­junc­tion with the of­fi­cial visit of Sisoulith to Malaysia.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.