Russia and Malaysia intensify investment cooperation

Bilateral meeting between Minister of Economic Development of Russia Alexey Ulyukaev and Minister of International Trade and Industry of Malaysia Mustapa Mohamed was held on the sidelines of Russia – ASEAN Ministers of Economics` consultations in Kuala Lumpur on August 25, 2015.
Discussion at the meeting focused on the trade, economic and investment cooperation between the two countries. Alexey Ulyukaev stressed that “Malaysia is one of the most attractive trade partners for Russia within ASEAN”. According to the Minister, the recent years witnessed stability and positive growth of the bilateral trade and economic relations. Trade turnover increased by 22.8 per cent in 2014.
Nevertheless the participants of the meeting emphasized that untapped capacity of investment cooperation existed. In November 2014, the Russian side proposed to establish a bilateral high-level ministerial working group on priority investment projects aimed at supporting “potential partners in their cooperation and implementation of investment projects” in order to boost investment dialogue.
Alexey Ulyukaev emphasized that the Russian business mission to Malaysia held earlier demonstrated an increasing interest of business representatives of both countries to intensify trade and economic cooperation.
The Russian side proposed to elaborate and approve a middle term Russian – Malaysian Trade, Economic and Investment Roadmap (3-5 years) outlining priority cooperation areas, investment projects and their implementation schedules, state measures to support investment cooperation between the two countries.
Alexey Ulyukaev also noted a readiness to sign the intergovernmental Agreement on establishing Russian – Malaysian Commission on trade, economic, science and technology cooperation.
Press-release at the official web-site of the Ministry of Economic Development of the Russian Federation (in Russian)