Senior Minister and Minister of International Trade and Industry, Dato’ Seri Mohamed Azmin Ali is on a three-day Trade and Investment Mission (TIM) to Qatar with the objective to promote Malaysia as an investment destination of choice, as well as further enhance bilateral trade and economic ties.
The discussion centred on Malaysia’s current management of the pandemic, the various measures taken by the government before touching on trade and economy. Pointing to Malaysia’s GDP projections which had been revised to 4.5%, Azmin highlighted that for the first time in history, Malaysia had broken record for a one-month trade performance in spite of the pandemic exceeding RM100 billion. Moving forward he iterated that the country has a clear and comprehensive exit strategy through the National Recovery Plan.
Both Governments were committed to resuming efforts on operationalising the strategies through the 3rd Malaysia-Qatar Joint Trade Committee (JTC) meeting, necessitating stronger private sector participation in the dialogue. To jointly facilitate and continue to work on the Investment Guarantee Agreement to encourage more investment crossflows between Qatar and Malaysia. The Trade Minister emphasised that Qatar could use Malaysia as its trading hub in the ASEAN region, underscoring that Malaysia offers the best location in the region. With the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement, Malaysia has become more attractive as it is connected to a market size of over two billion people.
A meeting with Prime Minister of Qatar, His Excellency Sheikh Khalid Bin Khalifa Bin Abdulaziz Al Thani is scheduled to take place where issues on Malaysia’s National Investment Aspirations (NIA) can drive and deepen the strong partnership with Qatar. The NIA consists of five key outcomes for the country, namely, to increase economic complexity, create high-value job opportunities, extend domestic linkages, develop new and existing clusters, and improve inclusivity. It aspires to champion equitable growth for the nation by ensuring equal opportunities, as well as adequate safeguards for the people.
A targeted one-on-one business meetings are planned to expand on new opportunities and collaboration that can encourage more public-private strategic partnerships. Prominent leaders of Qatari companies in the retail service, cyber security and other areas are set to join.
This is a proactive approach by MITI, as the world recovers from a 18 month lull, Malaysia is seeking to build back its trade relationship and strengthen its position after going through a battering. Our open and friendly policy is welcomed by many trading nations, and its this nature that will lift the nation once again.
