Al-Ahram: Malaysian investments in Egypt hit $1.6 billion

Malaysia's Foreign Minister Syed Hamid Albar called for redressing the Malaysian-Egyptian balance of trade through pushing forward the Egyptian exports to his country whose exports to Egypt scored $ 400 million against imports worth $ 24million.

Albar in press remarks to Al-Ahram, said that the Malaysian investments in Egypt are growing notably the investments of petrogas that valued at $ 1.6 billion in oil and gas in addition to $ 50 million in producing cooking oil and lauded cooperation in training 237 Egyptian youths in technological fields.

He added that setting up a businessmen council for the Non- Alignment member states will boost trade exchange and economic cooperation among them.

Albar indicated that the rate of growth in Malaysia will hit this year 6.5 % due to the political stability which helps scoring this rate.