KUALA LUMPUR, May 6 (Bernama) -- International Trade and Industry Minister Datuk Darell Leiking received an official visit from the Vice President of Argentina, Her Excellency Marta Gabriela Michetti at his office, as part of Vice President Michetti five-day visit to Malaysia.

During the private meeting, Minister Darell and Vice President Michetti agreed that there are growth opportunities in the bilateral trade and investment relations between both countries. The private meeting was followed by the Malaysia-Argentina Roundtable Meeting which was attended by Malaysian and Argentinian companies, chambers of commerce and investment funds. The roundtable meeting exchanged views on opportunities to further enhance the trade and investment ties as well as discussed concerns on doing business in both countries.

Minister Darell acknowledged the enormous prospects of Argentina and the MERCOSUR economic bloc to further deepen Malaysia’s trade and investment ties within the Latin America region. He emphasised the need for the governments and businesses in both nations to work hand in hand to explore mutually beneficial opportunities, address the existing challenges and improve the processes. “Being the fifth largest economy in the world, Malaysia definitely is interested to establish partnership with Mercosur. MITI is exploring the feasibility of a Free Trade Agreement with Mercosur,” he added.

In 2018, Argentina remained as Malaysia’s third largest trading partner among the Latin American countries, after Brazil and Mexico, with total trade of RM5.39 billion (USD1.3 billion). Meanwhile, Malaysia was Argentina’s fourth largest trading partner among ASEAN countries. Palm oil and palm oil-based agriculture products are among the major exports to Argentina after rubber products; electrical and electronic; and petroleum products.

Argentine companies have invested in Malaysia’s manufacturing and services sectors; while Malaysian companies have successfully ventured in Argentina in diverse sectors from tourism, oil and gas, investment holdings and manufacturing.

(Note: Mercosur is an economic and political bloc comprising Argentina, Brazil, Paraguay, Uruguay.)

Bilateral Economic and Trade Relations Division
Ministry of International Trade and Industry (MITI)
Level 21, Menara MITI
No. 7, Jalan Sultan Haji Ahmad Shah
50480 Kuala Lumpur,
MALAYSIA
Telephone Number: (603) 6200 2401
Facsimile Number: (603) 6206 2645
Email: allhep@miti.gov.my

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About MITI:

The Ministry of Commerce and Industry was established in April 1956 then was renamed as The Ministry of Trade and Industry in February 1972. On 27 October 1990, the Ministry was separated into two Ministries which are; Ministry of International Trade and Industry (MITI) and Ministry of Domestic Trade and Consumer Affairs (KPDN).

MITI is the key driver in making Malaysia the preferred destination for quality investments and enhancing the nation's rising status as a globally competitive trading nation. Its objectives and roles are oriented towards ensuring Malaysia’s rapid economic development and help achieve the country's stated goal of becoming a developed nation by 2020.

SOURCE : Ministry of International Trade and Industry (MITI)

FOR MORE INFORMATION, PLEASE CONTACT:
Ministry of International Trade & Industry
Strategic Communications Unit
Tel : +603 6200 0083
Fax : +603 6206 4293
E-mail : allpegkomunikasikorporat@miti.gov.my 

--BERNAMA