Saudi-Malaysian Financial ties Strengthened With the Start of a Business Council

Saudi-Malaysian Financial ties Strengthened With the Start of a Business Council

RIYADH: Saudi Arabia and Malaysia’s economic ties are set to strengthen by establishing a business council to catalyze growth and collaboration across multiple sectors.

The council was established during the visit of Saudi Minister of Commerce Majed bin Abdullah Al-Qasabi, who led a delegation of 44 officials and leaders from 20 government bodies and 24 private sector entities to the Southeast Asian country. The minister announced the formation of the business council, emphasizing the importance of improving economic relations between the two countries.

We established the Saudi-Malaysian Business Council today with the Minister of Investment, Trade, and Industry, Tengku Zafrul Aziz, to help strengthen economic and trade relations in promising sectors in the two brotherly countries,” Al-Qasabi said in a post on his X account on May 6.

The Saudi minister also held a roundtable meeting with Aziz, which was attended by Sulaiman Mahbob, chairman of the Malaysian Investment Development Authority, Dato Seri Reezal, chairman of the Malaysia External Trade Development Corp., and Shaharul Sadri Alwi, director general of the Department of Standards Malaysia. According to Al-Qasabi, the discussions with Malaysian officials focused on strengthening partnerships between the two countries’ business sectors.

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