By R.Ravichandran
KUALA LUMPUR, Feb 17 (NNN-Bernama) — There are many potential new areas of cooperation that Egypt and Malaysia can cooperate in, including Information and Communication Technology (ICT), vaccine production, green economy and climate change.
Outlining this, Egypt’s Ambassador to Malaysia Ragai Nasr said Malaysia is one of the most advanced countries in ICT and is a potential regional digital hub in Southeast Asia.
“There is a huge potential of cooperation between the two countries in this area, given that digital transformation is a high priority for Egypt, and offers a unique opportunity to transform several economic sectors such as financial services, retailing, healthcare, agriculture, and manufacturing while creating opportunities for individuals and enterprises and impacting inclusive development and economic growth,” the ambassador said.
Nasr was speaking to Bernama in an interview at the embassy here.
Another area he pointed out for potential cooperation is related to climate change and various sectors related to green economy, something that many countries are increasingly giving attention to now.
“Egypt is now giving a huge emphasis on sustainability and will also be hosting COP27 (the United Nations Climate Change Conference) in the Red Sea resort city of Sharm El-Sheikh in November 2022,” he said.
Replying to a question about areas of bilateral relations and cooperation which both countries see a need for revival, Nasr pointed out to tourism.
He explained that this is an area that has the potential to benefit both countries and furthering people to people ties.
“Additionally, the tourism industry is a large source of foreign exchange income and affects the economy positively. It creates many job opportunities, and is an important contributor to the economy, and a catalyst for economic growth,” the ambassador said.
Citing the positive recent bilateral trade figures, Nasr said he perceived this as a motive for businesses from the two countries to further explore the potentials and business opportunities available on both sides.
In 2021, the total bilateral trade between Egypt and Malaysia was around US$900 million, an increase of 81 per cent compared with 2020.
” As you know the governments’ role is to pave the way for business to discuss possible deals or joint ventures and we would like to see more eagerness from the business community to benefit from these business opportunities in the forms of trade deals and joint investments,” he said.
— NNN-BERNAMA