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.
The Investment, Trade and Industry Minister said the matter was decided at a meeting between Prime Minister Datuk Seri Anwar Ibrahim and Saudi Arabia’s Trade Minister Dr Majid Abdullah Alkassabi at the Ritz-Carlton Hotel here, which he also attended.Also present were Foreign Minister Datuk Seri Zambry Abd Kadir and Malaysian Ambassador to Saudi Arabia Datuk Wan Zaidi Wan Abdullah.
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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 159.2pc 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$105 billion.
Among them were Saudi Aramco, Dagang NeXchange Bhd , Ajlan & Bros Holding Group, MGB Bhd, Alameriah Real Estate Development, Mobility One Sdn Bhd, Al-Nesma Holding Co Ltd and SARH.
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