Malaysian business team visits

Volume 31, No. 615
February 20 - 26, 2012

MALAYSIA’S Minister for International Trade and Industry, Dato’ Sri Mustapa Mohamed, was due to lead a trade and investment delegation to Myanmar on February 23-4, a press release stated last week.

The visit also marked the launch of the Malaysian Myanmar Business Council (MMBC) on February 24.

The delegation of more than 30 included leading Malaysian businessmen and senior Malaysian government officials, as well as the heads of the Malaysia External Trade Development Corporation (Matrade) and Malaysian Investment Development Corporation (MIDA).

Matrade is Malaysia’s national trade promotion agency, while MIDA is the lead investment promotion agency.

Mr S Jai Shankar, Matrade’s Trade Commissioner for Myanmar, said the objective of the mission was to enhance bilateral trade and investment flows between Malaysia and Myanmar.

The visit also included a business seminar entitled “Malaysia’s Potential as a Trade and Investment Partner to Myanmar” on February 24 at the UMFCCI’s headquarters in Lanmadaw township in Yangon.

Mr Shankar said Dato’ Sri Mustapa Mohamed would deliver a keynote address at the seminar to discuss Malaysia’s economic development as well as the trade and investment opportunities available in Malaysia. Dato’ Sri Mustapa Mohamed would also take questions from the audience at the end of the seminar, Mr Shankar said.

Mr Shankar added that the event would also see the official launch of the Malaysian Myanmar Business Council (MMBC).

“The objective of the business council is to assist the embassy of Malaysia in promoting closer bilateral trade and investment relationship between Malaysia and Myanmar,” he said.

“MMBC is also expected to be a major conduit for communication between the business communities of both countries.

“Malaysia’s total trade with Myanmar expanded by 98.9 percent from US$300.56 million in 2000 to $597.80 million in 2010,” he added.