Malaysia, Egypt to strengthen trade ties

PETALING JAYA: Malaysia and Egypt aim to further strengthen trade ties in palm oil, construction, electrical and electronics,
services and manufacturing sectors through a three-day visit by Egypt's senior presidential adviser, Hassan Malek.

International
Trade and Industry Minister Datuk Seri Mustapa Mohamed said bilateral
trade between Malaysia and Egypt was important to increase trade value
after the post-revolution in the Middle East nation.

"Malaysia
and Egypt recorded US$1.5 billion (RM4.65 billion) in bilateral trade
last year, with palm oil accounting for 70 per cent of the total
trade," he told reporters at a dinner hosted by his ministry in honour
of Hassan Malek's
visit.

"This is the first visit by Egypt's
new government since the country's revolution and we hope trade
relations remain strong and stable in the years ahead," Mustapa said.

He
said senior Egyptian officials are expected to meet Prime Minister
Datuk Seri Najib Razak and a number of Malaysian ministers to discuss
potential trade expansions between Malaysia and Egypt.

"They
seem to be interested by the development model in Asian countries such
as in Malaysia and China to enhance growth in their country," he added.
-- BERNAMA