Minister Mustapa to Lead Trade Missions to Saudi Arabia, Turkey

KUALA LUMPUR, Sept 25 (Bernama) -- Malaysian Minister of International Trade and Industry, Mustapa Mohamed, will lead a trade and investment missions to Saudi Arabia and Turkey from Sept 25-28, 2017. In a statement Sunday, the Ministry of International Trade and Industry (MITI) said, the mission would comprise 10 officials from the ministry and its agencies as well as 20 businessmen from 12 organisations. It said the missions, which would cover Riyadh and Jeddah in Saudi Arabia as well as Istanbul in Turkey, were part of the government’s efforts to strengthen Malaysia’s economic bilateral relations with these countries. "The programme in Saudi Arabia includes intensive discussions as follow-through of many economic decisions agreed by both governments and private sector during the state visit of King Salman Abdulaziz Al-Saud, Custodian of the Two Holy Mosques, to Malaysia in February this year," it said. MITI said Mustapa was scheduled to meet with his counterpart, the Minister of Commerce and Investment, as well as the Minister of Energy, Industry and Mineral Resources and the Minister of Economy and Planning during his visit in Riyadh. In Turkey, MITI said, Mustapa would meet with Turkish Minister of Economy to discuss the expansion of the scope under the Malaysia-Turkey Free Trade Agreement which came into force in 2015. "Apart from meeting with government officials, Mustapa will be engaging with the local chambers of commerce and industry along with top figures from Saudi and Turkish business communities to further promote Malaysia as their ideal trade and investment partner," it said. Last year, Malaysia recorded a total trade of RM13.99 billion (US$3.37 billion) with Saudi Arabia, an increase of 27.8 per cent from RM10.95 billion (US$2.82 billion) in 2015 while for the period January-July 2017, total trade between Malaysia and Saudi Arabia rose by 17 per cent to RM8.38 billion (US$1.91 billion) from RM7.16 billion (US$1.75 billion) during the corresponding period in 2016. As for Turkey, Malaysia recorded total bilateral trade of RM8.42 billion (US$2.02 billion) last year, an increase of 50.2 per cent from RM5.61 billion (US$1.43 billion) in 2015. while for the period January-July 2017, total trade between Malaysia and Turkey increased by 64.2 per cent to RM7.07 billion (US$1.62 billion) from RM4.31 billion (US$1.05 billion) during the corresponding period in 2016. -- BERNAMA