MALAYSIA HAS AMPLE OPPORTUNITIES FOR TRADE AND INVESTMENT IN KUWAIT

by Zuhafizah Ahmad Zaki

KUWAIT, Dec 3 (Bernama) -- There are ample opportunities for Malaysia to
explore trade and investment inititatives in Kuwait, especially in the
telecommunications and financial sectors.

This follows the strengthening of ties between the two countries with the
recent visit of the King Tuanku Mizan Zainal Abidin and the
Queen Tuanku Nur Zahirah to Kuwait.

The Malaysian Ambassador to Kuwait Ashaary Sani said:"Seen from the
aspect of Kuwait's investment in Malaysia, the Kuwait Finance House has opened a
branch in Kuala Lumpur.

"We also had a delegation from the Central Bank of Malaysia in Kuwait to
promote Malaysia as an Islamic financial centre and other facilities," he told
reporters when met at his residence here.

He said that in respect of trade with Kuwait, Malaysia could not be
considered successful but vibrant efforts were being made to enhance it by the
Malaysian Industrial Development Authority (MIDA), Chambers' of Commerce and
other agencies over the past three years.

"We see from the two-way trade relatonship between Malaysia and Kuwait that
it can expand our economy and seen as as whole, interest in invesments will
always be present," he said.

He however explained that the trade relationship may not yield returns in
the short term as Malaysia also faced competition from Dubai and Saudi
Arabia.

He said that last year, Malaysia recorded RM6.2 billion (US$1=RM3.63) in
trade with Kuwait, its sixth largest trading partner in the Middle East. Exports
to Kuwait totalled RM573 million while imports from the Gulf state amounted to
RM2.04 billion.

For this year, the total value in trade with Kuwait until September was
RM2.32 billion. Exports were worth RM967.3 million and imports stood at RM1.35
billion.

Ashaary said Malaysia's biggest exports to Kuwait in 2007 were machines and
tools, food products,dairy products, wood products and furniture while
imports mainly involved petroleum products.

-- BERNAMA