RIYADH, 17 May — A multi-sectoral Malaysian trade and investment mission, led by Minister of International Trade and Industry Rafidah Aziz will visit the Kingdom from May 20 to 24 as part of the country’s drive to boost its exports to Kingdom which declined by $22 million last year.
During the same period Saudi exports to Malaysia, mostly oil, petrochemicals and some non-oil products, shot up by 120 percent — from $286.08 million in 1999 to $633.27 million last year. The balance of trade is in the Kingdom’s favor by over $310 million. The trade mission will arrive here on May 21 and leave for Jeddah the next day. Aziz will be accompanied by 43 Malaysian business leaders from 33 companies representing a broad spectrum of agricultural, construction, foodstuff, health care, computer, textile and telecommunication sectors.
Government officials will include the director general of the Malaysian Industrial Development Authority (MIDA), the chief executive of Malaysia External Trade Development Corporation (MATRADE) and other officials.
Mohtar Abdullah, Malaysia’s consul and trade commissioner told Arab News that Malaysian-Saudi business seminars and individual meetings will be held at the Buraidah Hall, Riyadh Intercontinental Hotel on May 21 and at the Jeddah Chamber of Commerce and Industry the following day.
During her meetings in Riyadh and Jeddah, Rafidah Aziz will scout for trade and investment opportunities between the two countries.
Saudi businessmen who have been to Malaysia point out that though the country has abundant natural resources and tourist attractions, it is not being marketed properly. Speaking on the condition of anonymity, a Saudi business executive told Arab News that no concerted effort has been made to brief the Saudi business community on the trade and investment opportunities when they arrive at the international airport in Kuala Lumpur.
“It is true the Malaysian Tourism Board had launched a campaign to promote Malaysia as ‘Truly Asia’ last year as a result of which Saudi tourist traffic did increase to that country. The authorities in charge of trade and investment should have coordinated with MTB to make sure that the visiting Saudis, mostly businessmen, were given brochures and other publicity material on the investment opportunities in Malaysia. But they did nothing in that direction.”
The businessman said that besides tourism, potential areas of cooperation between the two countries include information technology, health care and education. He referred to the Kingdom’s priorities in these two sectors that would lead to a sharp increase in the construction of schools and hospitals, following the decision by the US consortium to build 3,000 schools in the Kingdom and mandatory medical insurance for its six million expatriates.
