JEDDAH, 19 February 2004 — A 61-member trade delegation from Malaysia, one of the biggest to tour the Kingdom so far, will arrive in Jeddah on a three-day visit here beginning next week, according to Naeem Abdul Rahman, trade commissioner.
The delegation includes 12 officials, and 49 businessmen and will be headed by Minister of International Trade and Industry Rafidah Aziz.
“The visit is a follow-up of the Caravan Malaysia exhibition held here in December 2003, and the Fifth Jeddah Economic Forum (JEF), held here from Jan. 17-19. Both proved successful and fruitful for us,” Naeem said.
“The focus will be on joint ventures. We invite Saudi entrepreneurs to invest in Malaysia and vice versa,” he added.
Naeem said that Aziz will be addressing a business seminar on Feb. 28, to be held as part of the delegation’s visit. “We expect a big number of Saudi businessmen to attend the seminar in an effort to strengthen and increase bilateral trade, business and investments,” he added.
He said bilateral trade registered a 27 percent increase last year as compared to a year earlier. In 2003 the bilateral trade amounted to $991 million. Of the total, Saudi Arabia’s exports to Malaysia stood at $583.1m. The products included crude petroleum (72 percent) and refined petroleum products (18 percent).
Malaysia’s exports to the Kingdom totaled $407.9m, the main items being palm oil, TV receivers and furniture.
“Besides joint ventures, the thrust of the mission would be on diversification,” Naeem said. “Hence, the delegation represents such sectors as computers, medical equipment, laboratory furniture, automotive parts, motorcycles and scooters, and food and beverages. The services include, fund management, health care, investment funds, Islamic fund management, international capital market, Islamic insurance, and offshore financial services.”
