MALAYSIA TO STRENGTHEN TRADE AND INVESTMENT TIES WITH BRAZIL
BRASILIA, BRAZIL 25th May 2019 – International Trade and Industry Minister Datuk Darell Leiking continued his quest to reconnect with the government of Federative Republic of Brazil in Brasilia. According to the media statement issued by Ministry of International Trade and Industry (MITI) today, Leiking paid a courtesy call on the President of the Federative Republic of Brazil, His Excellency Jair Bolsonaro. Their discussion focused on expanding bilateral trade and investment between both countries and the possibility of a Free Trade Agreement between Malaysia and Mercosur.
” Leiking also met with the Acting Ministers of Foreign Affairs and Economy. Among others, the meetings acknowledged the importance of Malaysia-Brazil Joint Trade Commission as a structured platform to facilitate the implementation of the bilateral Trade Agreement, and agreed to convene its inaugural ministerial meeting soon. In addition, the meetings took note of the ongoing negotiations of investment cooperation agreement to further strengthen the bilateral investment ties.
Leiking was accompanied by the Ambassador of Malaysia to Brazil as well as senior officials from the Ministry of International Trade and Industry, Malaysia External Trade Development Corporation (MATRADE), Malaysian Investment Development Authority (MIDA), Malaysia Automotive, Robotics & IoT Institute (MARii), who were part of the discussions. ” said MITI in the statement.
Brazilian companies’ presence in Malaysia includes food manufacturing, rubber products and transport equipment sectors; as well as regional distribution of iron ore. Malaysian investments in Brazil encompass medical devices, transportation as well as oil and gas sectors.