Malaysia to expand trade ties with Saudi Arabia

By Saleh Fareed – Saudi Gazette

ec11_bigJEDDAH – The recent visit of Malaysian trade mission and the participation of 11 companies at the Saudi Food & Hotel and Hospitality 2013 are just part of the continuing efforts to strengthen bilateral trade relationship of Malaysia with Saudi Arabia, according Malaysian Consul General.

While welcoming and shaking hands with visitors to the Malaysian pavilion at the on-going Saudi Food & Hotel and Hospitality exhibition held at Jeddah Center for Forums and Events, Consul General of Malaysia Mohd Khalid Abbasi Abdul Razak told Saudi Gazette that meetings with JCCI and other related Saudi authorities will further strengthen trade and economic ties between the two countries.

He said 11 Malaysian companies took part in a big way at the Saudi Food & Hotel and Hospitality exhibition showcasing their goods and services in various food products such as processed canned food, chocolates products, healthy food and beauty products, nutraceutical and functional food related products, pre-instant mixed coffee and variety of buns, bread and biscuits.

Razak said that Saudi Arabia is the single-largest market for food and beverages in the Gulf region, accounting for 63% of all of the region’s imports with the value of the Saudi halal food estimated at $6 billion annually.

He also highlighted that with the close collaboration of Council of Saudi Cambers and JCCI, the commercial section of the consulate or MATRADE also undertook a marketing mission consisting of another 11 companies and 15 business people to Jeddah and Madinah for networking and business meetings.

The Consul General pointed out that bilateral trade relations between Malaysia and the Kingdom had increased significantly from $260 million in 1990 to $3.66 billion in 2012. Globally, Saudi Arabia was Malaysia’s 19th largest trading partner, 22nd largest export destination and 16th largest import source.

“There is much room for expansion of trade relationship in many areas such as machinery, appliances and parts, building and construction materials, palm oil, processed food and beverages as well as wood products,” he said.