Malaysian Businesses Urged To Explore Algeria's Services Sector

KUALA LUMPUR, Feb 25 (Bernama) -- Malaysian businesses need to explore new opportunities in Algeria, especially in the services, ranging from information and communication technology (ICT), construction, and energy and power generation. Malaysia External Trade Development Corporation (Matrade) chief executive officer Dzulkifli Mahmud said armed with ample expertise, capability and capacity, Malaysian businesses were in good stead to provide a wide range of services to Algeria. He said Algeria is Malaysia's second largest trading partner, export destination and import source in Northern Africa, while Malaysian companies were already involved in the sea water desalination project as well as oil and gas services there. "Our main exports (to Algeria) were palm oil, palm-based products, furniture, and rubber and dairy products which accounted for 70 per cent of total exports to the country," he told reporters after a trade talk entitled 'Malaysia-Algeria Together for Win-win Partnership' here Thursday. During the 2011-2015 period, total bilateral trade between Malaysia and Algeria doubled to US$281.62 million (RM1.19 billion). (US$1=RM4.22) Malaysia's exports to Algeria has contracted by 5.1 per cent to US$106.71 million (RM450.9 million) due to lower exports of margarine and shortening, furniture and rubber gloves. Meanwhile, Algerian Ambassador to Malaysia Nasreddine Rimouche said Malaysian steel and metallurgy businesses were welcomed to invest or supply their products for infrastructure projects in Algeria. "We would also like to see more products and services such as ICT, tourism and healthcare from Malaysia," he said. -- BERNAMA