M'SIA, YEMEN SEEK TO ENHANCE ECONOMIC TRADE

KUALA LUMPUR, June 24 (Bernama) -- Malaysia and Yemen's economic trade could
be enhanced further by tapping the vast potential and untapped sectors offered
in both countries, says Director General of the Malaysian Investment Development
Authority (MIDA) Jalilah Baba.

She said Malaysia would be able to supply Yemen a wide range of globally
accepted quality products such as palm oil, wood products, logs & sawn timber,
chemical and chemicals products, processed food and electrical and electronics
products.

"Meanwhile, Yemen can further strengthen exports of crude petroleum,
seafood, skins and furskins, machinery, appliances and parts and metal to
Malaysia," she said at the "Business Opportunities in Yemen" forum today.

The text of her speech was read out by N. Rajendran, Director for Cross
Border Investment Promotion Division of MIDA.

Bilateral trade between Malaysia and Yemen has been encouraging and there is
vast potential to increase trade between both countries.

In 2009, trade between the two countries amounted to RM986.4 million
(US$308.25 million) with Malaysia's exports to Yemen hitting RM720.9 million
(US$225.28 million) and imports reaching RM265.6 million (US$83 million).

Agreeing with this, Ambassador of Yemen to Malaysia Abdulla Mohamed
Al-Montaser invited Malaysian companies to exploit the untapped sectors
in the country such as mineral exploration, agriculture and tourism.

Yemen, he said was rich in natural resources including rock salt, marble,
minor deposits of coal, gold, lead, nickel, copper as well as fish and seafood.

"Malaysia and Yemen have established strong ties in all sectors and we are
committed to deepen the relationship by organising more trade missions and
business forum in both countries," he said at the forum.

Meanwhile the President of Malay Chamber of Commerce Malaysia, Syed Ali
Alattas, said to help local companies penetrate the Yemen market, the
association and GIA, the Yemeni government department which is responsible for
developing and supporting business investments in the country, had in March
organised the Malaysia-Yemen Festival 2010 in Sana'a Expo Centre, Yemen.

The festival, he said provided a gateway for locals to look at business
networking and investment opportunities in Yemen.

This is a place where Malaysian investors can be pioneers, he added.

Malaysian companies participating in the fair came from various fields
ranging from construction, property, food, oil and gas, automotive, education,
tourism, manufacturing, research and development, and services.
-- BERNAMA


Attachments:
untitled-[2] 6.2 k [ text/html ] Download | View
Delete & Prev | Delete & Next