KUALA LUMPUR, May 7 (NNN-Bernama) — Malaysian Ministry of Trade and Industry (MITI) has concluded a successful trade and investment mission to Saudi Arabia and the United Arab Emirates (UAE) with a renewed commitment from both countries to escalate the unique and special relations with Malaysia to a higher and more strategic level, particularly in the sphere of trade and investment.<\/p>\n\n\n\n
Led by Senior Minister cum International Trade and Industry Minister Mohamed Azmin Ali, the mission took place from April 26 to May 4, 2021.<\/p>\n\n\n\n
Among the notable milestones achieved through the mission to Saudi Arabia was a strong commitment by the kingdom to increase imports of Malaysian palm oil, MITI said in a statement Friday.<\/p>\n\n\n\n
The mission emphasised the commitment to making Saudi Arabia the hub for the distribution of Malaysian palm oil and palm oil food-related products for the Middle East and North Africa (MENA) region, as well as supporting the region\u2019s policy of enhancing food security.<\/p>\n\n\n\n
\u201cIn terms of potential investment, the companies in Saudi Arabia had committed in the immediate term, to invest a total of US$ 48.58 million (RM200 million) in Malaysia.<\/p>\n\n\n\n
\u201cConcurrently, the Saudi Arabian companies had also committed to source Malaysian goods and services amounting to RM833.5 million, to be realised in the coming years,\u201d it said. (US$1 = RM4.16)<\/p>\n\n\n\n
Similarly, for the UAE, MITI said the Emirati companies had committed in the immediate term, to cumulatively invest a total of RM2.16 billion in Malaysia and purchase Malaysian goods amounting to RM470 million.<\/p>\n\n\n\n
\u201cThis mission was also timely, with the soon-to-be-launched Malaysia\u2019s comprehensive new investment policy, the National Investment Aspirations (NIAs).<\/p>\n\n\n\n
\u201cThis entails a holistic reform of Malaysia\u2019s investment agenda, emphasising on high technology and innovation with a focus on striking a balance between economic and environmental sustainability, in line with global environment, social and governance (ESG) benchmarks,\u201d it added.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, May 7 (NNN-Bernama) — Malaysian Ministry of Trade and Industry (MITI) has concluded a successful trade and investment mission to Saudi Arabia and the United Arab Emirates (UAE) with a renewed commitment from both countries to escalate the unique and special relations with Malaysia to a higher and more strategic level, particularly in […]<\/p>\n","protected":false},"author":27,"featured_media":100861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/121767"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=121767"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/121767\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/100861"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121767"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}