Anwar’s visit strengthens Malaysia-Qatar ties, explores new investment horizons - MIDA | Malaysian Investment Development Authority
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Anwar’s visit strengthens Malaysia-Qatar ties, explores new investment horizons

Anwar’s visit strengthens Malaysia-Qatar ties, explores new investment horizons

11 May 2024

Prime Minister Datuk Seri Anwar Ibrahim’s official visit to the Qatari capital, commencing tomorrow, is expected to deepen bilateral relations between Malaysia and Qatar, as the two nations commemorate their 50th anniversary, while also exploring new investment opportunities.

The visit fulfills an invitation from the Emir of Qatar, Sheikh Tamim Hamad Al Thani, and encompasses participation in the Qatar Economic Forum 2024.

Malaysian Ambassador to Qatar, Zamshari Shaharan, hailed the Prime Minister’s inaugural visit as a promising start, aimed at strengthening relations forged over five decades and fostering new cooperation for the next 50 years.

“Qatar regards Malaysia highly as one of the progressive and modern Islamic countries that has achieved remarkable economic success over the years,“ he told reporters during a press conference at the Malaysian Embassy here on Saturday, coinciding with the Prime Minister’s official visit.

Shaharan noted that Anwar’s presence at the economic forum carries significance, especially as Malaysia is featured in a 30-minute ‘In Conversation with Prime Minister Anwar Ibrahim’ session, providing an opportunity for interaction with forum participants, including Qatari industry representatives and government delegations.

Furthermore, Anwar’s participation in a roundtable meeting with 30 representatives of Qatari companies will afford him the opportunity to elucidate Malaysia’s economic landscape and the incentives available for potential investors.

“Qatar is keen on attracting investments, including through joint ventures with Malaysian companies and establishing a presence in Qatar, aligning with the vision of the Qatari government,“ he said.

Renewable energy emerges as a potential sector in Qatar, added Shaharan.

Last year, bilateral trade between Malaysia and Qatar amounted to RM4.3 billion, a figure expected to rise further following this visit.

Malaysia’s major exports to Qatar last year comprised iron and steel products (37.2 per cent), machinery, equipment, and parts (16.5 per cent), and palm oil and palm oil-based agriculture (8.5 per ent), alongside processed foods, electrical and electronic products.

Conversely, imports from Qatar included petroleum products (47.4 per cent), crude petroleum (31.5 per cent), chemicals and chemical products (10.5 percent), manufactures of metal (9.3 per cent), and palm oil-based manufactured products (0.3 per cent).

Source: Bernama