The Consulate General of Malaysia Commercial section (MATRADE Jeddah) in collaboration with Council of Saudi Chambers (CSC) and Jeddah Chamber of Commerce (JCCI) organized a meeting between Saudi businessmen and their Malaysian counterparts in Jeddah yesterday.
The Malaysian delegation was led by Muhammad Khalid Abbasi Abdul Razak, Malaysian consul general; Nurammar bin Abu Bakar, deputy president of association of Malaysia’s Bumiputera Muslim manufactures and services industries (PPIPBM) and Amran Yem, trade commissioner MATRADE Jeddah. Mohi-Al-din Hakami, assistant secretary general, welcomed them and said Malaysia promoted mineral industries and engineering services in the Saudi market.
The two countries' trade volume is more than SR 15 billion, with Saudi Arabia remaining a major trading partner of Malaysia. Malaysia's 11 specialized companies in metal industry, engineering services, construction companies, and manufacturers in addition to 10 other companies are participating in Saudi International Exhibition of Food, Hotels and Hospitality 2013, which is curerently being held in Jeddah.
JCCI regularly hosts meetings and business conferences and has plans to use different channels, one of them being video conferencing. "We are planning to use video conferencing in future to enhance business with other countries. Video conferencing also reduces time and money, and is very effective for discussions between the two parties," a JCCI official said.
Razak said the trade mission is part of the continuing efforts to strengthen the bilateral trade relations. "Our businessmen are here to explore new business opportunities between the two countries; Saudi Arabia is one of the most important markets, which cannot be ignored," said Razak.
He highlighted areas that play a role in the relations of trade exchange between the two countries, which include machinery, equipment, spare parts, construction materials, food and beverages, wood products and services for real estate development and construction, power generation, information and communication technology, health care and education, high quality international standard broadband, infrastructure systems and facility management.
The JCCI as the umbrella of the private sector strengthens relations and promotes trade and economy between the countries. "Saudi Arabia was one of the most important markets, in 2012. More than 100 Malaysian companies are registered with SAGIA (Saudi Arabian General Investment Authority). Some are involved in projects like Makkah development, Kingdom Tower and township development in Jazan. Today’s visit by the association is hoped to be a milestone between the two countries," he added.
According to Yem, the bilaterl trade reached $ 3.66 billion in 2012 from $ 260 million in 1990. In 2012, Malaysia’s total exports to Saudi Arabia were $ 1.22 billion. The major exports were electrical and electronic products, as well as those of metal, machinery, and appliances and parts.