Send To Friend
Gamea discusses with Malaysia’s minister of plantation industries boosting economic cooperation
17 April 2022  -  Sector :  -  Entity :  -  Category : Industry News

Other Titles

The meeting discussed expanding industrial, commercial and investment cooperation between the two countries as well as other economic issues of common interest.

Cairo- Apr 17, 2022

Minister of Trade and Industry Nevine Gamea has met with Malaysian Minister of Plantation Industries and Commodities Zuraida Kamaruddin and her accompanying delegation, where they explored means of expanding bilateral cooperation, among other economic issues of common interest.

Zamani bin Ismail, the Malaysian ambassador in Cairo, participated in the meeting, along with representatives of the timber, rubber and palm oil councils in the Southeast Asian country.

The meeting discussed further cooperation in palm oil production in Egypt as well as in wood manufacturing to meet the needs of Egyptian industries, especially that Egypt possesses an advanced furniture industry.

“The Egyptian market boasts all investment-conducive elements: business-friendly legislations, reliable infrastructure and the Suez Canal Economic Zone,” Gamea said, noting that the country will set up tire factories that can benefit from Malaysian rubber.

Kamaruddin, for her part, expressed her country's aspiration to establish a factory for the production of palm oil derivatives in Egypt and export to regional and global markets, in particular to those in Africa, Egypt being its main gateway.

She also invited the Egyptian business community to participate in Malaysia International Agricommodity Expo and Summit (MIACES), to be held in the capital Kuala Lumpur on July 26-28.

According to official figures, Egypt’s exports to Malaysia amounted to $126.7 million in 2021, up 35% from $94 million a year earlier, including: citrus fruits, phosphates, and chemical and mineral fertilizers.

Malaysian investments in Egypt stand at $60 million in 26 projects in the sectors of oil, gas, electricity, construction, trade, tourism and IT; while Egyptian investments in Malaysia amount to $20 million in chemical and wood industries.

Add new comment
Comment body*
(0) Comment(s)