Malaysia-Saudi Arabia bilateral trade can be bolstered

KUALA LUMPUR: Bilateral trade and investment between Malaysia and Saudi Arabia can be bolstered through joint ventures and cooperation in sectors such as oil and gas, healthcare, construction, education, medical tourism, financial services and the halal industry.

Malaysia External Trade Development Corporation Trade (Matrade) Commissioner in Jeddah, Yusram Yusup encouraged Malaysian companies to explore the Jeddah market and establish business ties with companies there.

“There is much to be done to increase and deepen trade rela-

There is much to be done to increase and deepen trade relations between Malaysia and Saudi Arabia. Yusram Yusup, Matrade Commissioner in Jeddah

tions between Malaysia and Saudi Arabia.

“We need to encourage more trade and investment collaboration among the business communities in both countries which bring opportunities for Malaysian companies in related sectors,” he said in a statement after meeting Riyadh Chamber of Commerce and Industry chairman, Abdulrahman Ali Al-Jeraisi and Eastern Region Chamber of Commerce (Asharqia Chamber) chairman, Abdul Hakim Hamad Al-Ammar Al-Khalidi.

Currently, Saudi Arabia is Malaysia’s second-largest trading partner in the Middle East, with total trade amounting to RM15 billion last year.

For the first six months of 2018 (1H18), Malaysia’s trade with the kingdom was higher at RM9.57 billion from RM7.6 billion in 1H17. — Bernama