KUALA LUMPUR, Feb 21 (Bernama) — Arab countries are contemplating moving their funds to safer economies like Malaysia following the economic crisis in Europe and the United States, said Mohammed Al-Rabea, Secretary-General of the Council of Arab Economic Unity, The Arab League.
“The economic crisis in Europe and the United States has affected the revenue of Arab countries. We are looking seriously to redirect these funds into safe economies like Malaysia,” he told Bernama in an interview here.
The Council of Arab Economic Unity is in Malaysia for the Malaysia Global Business Forum-Strategic Partners-Malaysia and The Arab World held at MATRADE Tuesday.
The delegation had a meeting with Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir during the forum.
Mohammed Al-Rabae said they had exchanged views on potential businesses for Malaysia and the Arab countries.
“We have exchanged views and discussed with the Arab-Malaysian Business Council and Arab-Malaysian Chamber of Commerce to develop businesses and create joint ventures and closer ties.
“I have also extended invitation to Datuk Mukhriz to visit Cairo,” he said, adding that Malaysia has yet to further its business relations with all members of the Arab League.
Mohammed Al-Rabae also said the delegation was impressed with the development of health tourism in Malaysia and would implement a similar model back home.
The Council of Arab Economic Unity will visit KPJ Healthcare, Malaysia’s leading healthcare provider, tomorrow to discuss potential partnerships in the area of healthcare.
Meanwhile, Arab-Malaysian Chamber of Commerce President Mohamad Radwan Alamis said he was confident that total trade between Malaysia and Arab countries would exceed US$30 billion in 2015 from US$17.6 billion over the last 10 years.
“The US$30 billion is not far to achieve. We expect much more.
“There are huge opportunities. There are huge investment opportunities for Malaysian businessmen in the Arab countries, particularly in the construction and infrastructure sectors,” he said.