FM Shoukry, Malaysian PM discuss enhancing economic cooperation

Ahram Online , Monday 14 Mar 2022

Egypt’s Foreign Minister Sameh Shoukry delivered on Monday a message from President Abdel-Fattah El-Sisi to Malaysian Prime Minister Ismail Sabri Yaakob in Kuala Lumpur during the FM’s first stop in an Asian tour that includes Malaysia, Singapore, Indonesia, and Pakistan, the Egyptian foreign ministry said.

Egypt s Foreign Minister Sameh Shoukry in his meeting with Malaysian Prime Minister Ismail Sabri Yaakob in Kuala Lumpur , Malaysia on Monday (Photo : Egyptian Foreign Ministry)

El-Sisi’s message to Yaakob conveyed Egypt’s wish to enhance bilateral relations and discussed the preparations for the UN Conference on Climate (COP27) in Sharm El-Sheikh in November.

The Egyptian FM and Malaysian prime minister discussed the recent developments in economic and trade relations between the two countries.

The volume of trade exchange between Egypt and Malaysia reached about $1 billion in 2021, recording an 80 percent increase compared to 2020, according the foreign ministry.

Minister Shoukry also met with Malaysia’s Minister of International Trade and Industry Mohamed Azmin Ali on Monday evening, where they discussed the development in cooperation between the two countries in trade and investment.

Following the meeting, Ali held a working dinner in honour of Shoukry and attended by the Malaysian ministers of finance and economy and representatives of the Malaysian business community, including chairman of the Malaysian Petroliam Nasional Berhad (Petronas).

The Malaysian minister of international trade and industry said during the event that Egypt remained Malaysia’s largest trading partner in the North Africa region and has been among Malaysia’s top six largest trading partners in Africa in 2021.

The minister also said that there has been an increase in Malaysia’s exports to Egypt largely due to high demand for Malaysian palm oil and palm-based agriculture products, while the increase in imports from Egypt was due to increased demand for Egyptian fruits and petroleum products.

As for Petronas’ investments, the minister said that its investments in Egypt reached more than $9 billion since 2003.

Minister Shoukry said the Egypt-Malaysia Business Council will soon be reactivated to resume its vital role in boosting the economic relations between the two countries. 

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