Malaysian international trade minister calls for Arab investment
Malaysian International Trade and Industry Minister Rafidah Aziz on Tuesday called on Jordan and other Arab nations to invest in her country and take advantage of the economic recovery there.
For Arab countries "trade is familiar, it is something they already do (with Malaysia); but investment is new to them, it is something long-term and they need to understand it," the minister said.
Aziz said some Arab countries indirectly invest in Malaysia through European and US firms, stressing that direct investments were now needed to strengthen Malaysian-Arab relations.
She was speaking at the end of a one-day Malaysia-Jordan business seminar during which she gave a presentation on the value of doing business with Malaysia both through trade and investment.
"We have just agreed with the minister to set up an investment trade committee that will include the private sector and which will meet early next year to discuss cooperation," Aziz said.
She said she also invited Jordanian Industry and Trade Minister Wasef Azar to lead a delegation of businesspeople to Malaysia, to hold a seminar and outline investment possibilities in the kingdom.
"Jordan is Malaysia's seventh trading partner after the United Arab Emirates, Saudi Arabia, Turkey, Iran, Kuwait, Oman in the West Asia region, with two-way trade totaling $104.2 million," Aziz said.
Malaysia exports to Jordan mainly palm oil, furniture, wood and televisions, while Jordan sells Malaysia phosphates and potash for fertilizers, plastics, pottery and paper.— (AFP)
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com)