Malaysia’s investments in Egypt hit $12bn- ambassador

The Malaysian investments in Egypt reached around US$12 billion since 2001, Malaysian Ambassador to Egypt Ku Jaafar Ku Shaari announced Tuesday.

Meanwhile, the Egyptian investments in the Malaysian market recorded around US$7.8 million over the last 14 years, the ambassador added during the meeting of the Malaysian Palm Oil Council (MPOC Egypt).

Ku Shaari noted that the volume of trade exchange between Egypt and Malaysia hit around US$340 million during January-September 2015, considering it extremely weak in comparison with the same period of 2014.

He expected the mutual trade exchange to witness a leap and hit US$2 billion, during the fourth quarter of 2015 .

During the first nine months of 2015, the Egyptian exports have been boosted to US$200 million versus US$100 million a year earlier, the ambassador added.

The Egyptian-Malaysian relations are set to witness a cooperation in transport and infrastructure fields notably after the meeting held between the Egyptian transport minister Saad El-Geyoushi and his Malaysian counterpart.

Ambassador Ku Shaari noted that he is supporting Malaysian firms to enter the Egyptian market notably small companies that are keen to work and expand their investments in Egypt.