Malaysia to set up trade center in Bahrain to tap Arab markets
Malaysia will set up a trade center in Bahrain as a launch pad to tap west Asian markets, International Trade Minister Rafidah Aziz said Thursday, August 2.
The center will operate as a hypermarket for Malaysian products and services, and provide warehousing and storage facilities for exports to the Middle East, she said.
"The objective of the center is to further enhance bilateral trade with Bahrain and increase the export of products and services to the region," Rafidah said in a statement released to the local media.
Last year, Malaysia's exports to west Asia totaled 6.19 billion ringgit ($1.63 billion) or 1.7 percent of its global trade.
Rafidah said the Bahraini government has agreed to allocate several hectares of land in Manama for the center, expected to be ready late next year.
A Malaysian company will handle the management and day-to-day operations of the center on a joint venture basis with a Bahrain company, she added. ― (AFP, Kuala Lumpur)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)