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Malaysia to boost investments in Russian economy

May 18, 2014, 10:42 UTC+3 QINGDAO (eastern China)

Government intends to encourage local companies to increase investments in RF

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QINGDAO (eastern China), May 18 /ITAR-TASS/. Malaysian government intends to encourage local companies to increase investments in Russia, Malaysian Minister of International Trade and Industry Mustapa Mohamed said after a bilateral meeting with Russian Minister of Economic Development Aleksey Ulyukayev in this Chinese city on Sunday.

“We had a good meeting. We have made major progress and intend to sign a memorandum on setting up a joint committee to develop Russian-Malaysian co-operation,” Mohamed said. “Presently trade between the two countries is developing dynamically,” he noted, adding that “However, Russia’s presence in Malaysia is not large yet, particularly in investments,” the minister of international trade and industry noted.

He recalled Malaysia had invested more than one billion dollars in Russian gas giant Gazprom. “This can be said that this is our sole major investment project in the country. However, we export a large range of goods, including electronic appliances and equipment. We hope to raise our supplies in Russia, therefore, we intend to encourage our companies to make larger investments in Russia,” Mohamed added.

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