Malaysia, Egypt to increase economic cooperation
A recent visit by Malaysian Prime Minister Mahathir Mohamed to Egypt marked the beginning of a period of improved trade relations between Malaysia and Egypt.
The Malaysian ambassador in Cairo Dato Abu Bakar said to Al-Gumhurya that his country opens its markets before Egyptian commodities and does not put any restrictions on import from Egypt.
The Malaysian ambassador added that the upcoming period would witness great development in economic relations between Egypt and Malaysia, particularly in the field of trade and joint investments.
Currently, Egyptian exports to Malaysia total $15 million, up from seven million dollars in 1998. Malaysian exports, however, decreased from $310 million in 1999 to $212 million in 2000. This year, the trade deficit between the two nations narrowed nearly 32 percent. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)