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Through MATRADE’s presence in Almaty and Tashkent, Malaysia hopes to expand business opportunities for Malaysian companies, and MITI will look to translate these into commercial opportunities for local SMEs, and jobs for Malaysians.
On Prime Minister Anwar Ibrahim's inaugural official visit to the Krgyz Republic, Kazakhstan, and Uzbekistan, Malaysia's Ministry of Investment, Trade & Industry (MITI) has secured RM2.4bn of potential exports of Malaysian goods and services. Minister of Investment, Trade & Industry Tengku Zafrul Aziz, was part of the Prime Ministerial delegation.
The potential exports encompass sectors such as:
- electrical and electronics (E&E);
- palm oil and palm oil-based products;
- fast-moving consumer goods (FMCG);
- energy and industrial solutions;
- food and beverage (F&B);
- furniture;
- halal products and services;
- oil and gas;
- building materials and construction;
- professional services, and
- jewellery.
These export commitments were made by captains of industry in separate roundtable meetings with PM Anwar in Kazakhstan and Uzbekistan. Per MITI's statement, this outcome signifies the strengthening of economic ties between Malaysia and these Central Asian countries.
In Astana, Kazakhstan, PM Anwar and H.E. Olzhas Bektenov, the Prime Minister of Kazakhstan jointly chaired a roundtable meeting between 26 prominent business leaders from 12 Kazakh companies, and representatives from several Malaysian GLCs and 14 Malaysian companies. The Kazakh companies represented industries such as mining, O&G, energy, construction, FMCG and tourism.
Meanwhile, in Samarkand, Uzbekistan, PM Anwar and Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan jointly chaired a High-Level Business Forum for more than 200 representatives from Uzbek companies, several Malaysian GLCs and Malaysian companies. The companies represented various industries including pharmaceutical, construction and real estate, O&G, retail and distribution as well as financial services.
During both meetings, Dato’ Sri Anwar underscored the importance of strengthening bilateral and economic ties in facing complex global challenges, while reiterating Malaysia’s commitment towards building robust trade, investment and cultural linkages.
During the visit, PM Anwar also witnessed the exchange of eight memoranda of understanding (MOU) between Malaysian entities and those from both Kazakhstan and Uzbekistan — one of which was exchanged between MITI’s agency, the Malaysia External Trade Development Corporation (MATRADE) and the Chamber of Commerce & Industry of Uzbekistan. Other MOUs exchanged were in the areas of trade promotion, training and education, research and development as well as retail and distribution.
Minister Zafrul said: “We are pleased to have achieved RM2.4bn of cumulative potential exports from the businesses in Kazakhstan and Uzbekistan. This significant figure – confirmed through the roundtable meetings in both countries – reflects their respective business communities’ growing trust in Malaysia as a strategic partner in trade and investment. MITI will ensure that those export commitments are realized as quickly as possible to support Malaysia’s GDP growth.”
He further highlighted the numerous opportunities for Malaysian companies in the Central Asia region. Through MATRADE’s presence in Almaty and Tashkent, Malaysia hopes to expand business opportunities for Malaysian companies, and MITI will look to translate these into commercial opportunities for Malaysian SMEs, and jobs for Malaysians.
Lastly, Malaysia and Uzbekistan also agreed to reactivate the Joint Trade Committee (JTC) Meeting, which serves as a platform to address issues of interest; discuss existing and possible new areas of cooperation; strengthen private sector collaboration and further encourage trade and investment between the two countries.
Lead image / Prime Minister Anwar Ibrahim Facebook
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