Saudi Arabia and Malaysia have agreed to take measures to aggressively strengthen trade and investment between the two countries, the Kuala-Lumpur based Bernama news agency said Thursday. It said Malaysian International Trade and Industry Minister Datuk Seri Mustapa Mohamed expressed the hope after a bilateral meeting with Deputy Minister of Commerce and Industry of Saudi Arabia, Mohamed Al Khatiri, in Geneva on the sidelines of the World Trade Organisation meeting. “At the bilateral meeting, Mustapa suggested that the Malaysia-Saudi Business Council organise more familiarisation programmes for officials and businessmen from the two countries,” it quoted the Malaysian official as saying. “Khatiri said that there are many opportunities for Malaysian companies to do business in Saudi Arabia, especially in the construction sector, as a result of the implementation of the government's extensive development programme,” the ministry said in a statement on Thursday. In 2010, Malaysia's total trade with Saudi Arabia increased by 38 per cent to US$2.896 billion from US$1.923 billion in 2009. From January to October this year, total trade between the two countries reached US$3.454 billion compared to US$2.205 billion in the corresponding period in 2010. The statement said Mustapa, at the same bilateral meet, proposed the creation of a Joint Economic and Trade Committee to bring bilateral trade and economic relations to a higher level. “The Saudi Deputy Minister endorsed the proposal and said the Saudi Government looks forward to supporting initiatives in this regard,” it added.
