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RIYADH: Malaysia and Saudi Arabia agreed on Saturday to form a ministerial-level committee to bring trade, investment and economic cooperation between the two countries to a new level, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
"This committee will monitor the development of trade, investment and economy between the two countries as well as the prospect of cooperation in the future. Saudi Arabia is Malaysia's largest trading partner among West Asian countries, with total bilateral trade between the two countries in 2022 amounting to US$10.26bil, an increase of 159.2% from 2021.Among Saudi Arabia's main projects in Malaysia is the Pengerang Integrated Complex in Johor by Saudi Aramco. Fortune Global 500 in 2021 placed Saudi Aramco in the top six most profitable companies in the world, with a turnover of US$105bil.
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