Malaysian businesses need to start networking in order to explore Iraq

Malaysian businesses need to start networking in order to explore Iraq

AMMAN,. Malaysian businesses have been encouraged to make an early preparation to enable them to explore opportunities in Iraq which is now undergoing a reconstruction after years of conflicts.

Malaysian Ambassador to Jordan Datuk Jilid Kuminding said Malaysian corporates should start establishing a network with businessmen from Arab countries that Malaysia has diplomatic relations with.

Jilid, who is also responsible in maintaining Malaysia’s diplomatic ties with Iraq, said Jordan is the main gateway to Malaysia’s exports to Iraq and several other neighbouring countries.

“Iraq hopes Malaysia can help the country rebuilds its economy after a long-running conflict,” he said after paying homage to the Raja Muda of Perlis Tuanku Syed Faizuddin Putra Jamalullail who is in a working visit to Jordan today.

On Malaysia-Jordan trade, Jilid said it fell seven per cent to US$167 million (RM692.5 million) last year from US$180 million in 2016 due to the conflicts in Iraq which borders Jordan that Malaysia has good relations with.

“I see a huge opportunities for Malaysian businesses, especially in the petrochemical, palm oil and electronics sectors as Iraq welcomes the involvement of Malaysians.

“Currently Malaysia’s major exports to Jordan are petrochemicals, palm oil and electronics,” he said, adding that YTL Group is Malaysia’s largest company in Jordan through a joint-venture with a Chinese company in the oil and gas industry worth US$2.2 billion.

In another development, Jilid hoped the government would continue to send Malaysian students to pursue higher studies in Jordan as its education system has produced highly-educated professionals who were endowed with high religious values.

The number of Malaysian students in Jordan, mostly pursuing Islamic studies, declined sharply over the past three years from over 1,600 students to 840 students due to rising cost of higher education. — Bernama