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HomeBusinessSaudi-Malaysian Economic Ties Bolstered by High-Level Talks

Saudi-Malaysian Economic Ties Bolstered by High-Level Talks

Business Council Launch Aims to Strengthen Trade Relations

May 7, 2024
in Business
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During a pivotal trip to Malaysia, Saudi Arabia’s Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi convened with the Malaysian Prime Minister Anwar Ibrahim in Kuala Lumpur. The high-level discussions centered on fortifying cooperation, initiating joint governmental initiatives, and identifying collaborative opportunities in sectors deemed vital for both countries.

The strategic visit was primarily aimed at enhancing the bilateral exchange of goods and services, fortifying the economic alliance, and inaugurating the Saudi-Malaysian Business Council.

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Al-Qasabi and Ibrahim delved into ways to facilitate business operations across both nations, stimulate exports, and boost the global market reach of Saudi and Malaysian enterprises. They also discussed joint efforts to develop innovation, harness emerging technologies, advance research programs, and tap into the potential of e-commerce.

The launch event of the Saudi-Malaysian Business Council was a significant moment, with Al-Qasabi underscoring the transformative economic milestones achieved under Saudi Vision 2030. He also spotlighted the robust trading relationship between Saudi Arabia and Malaysia, pointing out the ample room for growth and diversification as the Kingdom endeavors to position itself as an international nexus for trade and logistics.

Throughout his two-day sojourn, Al-Qasabi engaged in a series of dialogues with key Malaysian figures, including Minister of Higher Education Dr. Zambry Abdul Kadir; Minister of Science, Technology, and Innovation Chang Lih Kang; Minister of Investment, Trade, and Industry Tengku Zafrul Aziz; Chairman of the Malaysian Investment Development Authority (MIDA) Dr. Sulaiman Mahbob; Chairman of the Malaysia External Trade Development Corporation (MATRADE) Dato’ Sri Reezal; and Director-General of the Department of Standards Shaharul Sadri Alwi.

Tags: Bilateral Tradebusiness councilEconomic PartnershipMalaysiasaudi arabia
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