Friday, July 30, 2021

Malaysia offers itself as trading hub for cash-rich Qatar

This is among several proposals by senior minister Mohamed Azmin Ali who is leading a trade mission to the sheikhdom.

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The government has offered to let Qatar use Malaysia as the cash-rich state’s trading hub in the Asean region, as one of several proposals discussed during a visit by International Trade and Industry Minister Mohamed Azmin Ali today.

In a statement released by the ministry, the senior minister said both countries would resume the implementation of the 3rd Malaysia-Qatar Joint Trade Committee (JTC) meeting, as well as the Investment Guarantee Agreement to encourage more investments between them.

“With the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement, Malaysia has become more attractive as it is connected to a market size of over two billion people,” the statement said.

Azmin will also meet Prime Minister Sheikh Khalid Khalifa today, as well as top industrial players with Malaysia’s National Investment Aspirations (NIA) and Putrajaya’s National Recovery Plan among the key topics of discussion.

“The meetings will be held with prominent leaders of Qatari companies in the retail service, cyber security and other areas that will expand Malaysia’s footprint in the global halal industry,” said the statement.

NIA consists of five key outcomes for the country, namely to increase economic complexity, create high-value job opportunities, extend domestic linkages, develop new and existing clusters, and improve inclusivity.

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