Malaysian financial institutions are carefully examining the Russian financial messaging system and are ready to join if it meets a number of criteria, Malaysian Ambassador in Moscow Bala Chandran told Sputnik
MOSCOW (Pakistan Point News / Sputnik - 23rd April, 2022) Malaysian financial institutions are carefully examining the Russian financial messaging system and are ready to join if it meets a number of criteria, Malaysian Ambassador in Moscow Bala Chandran told Sputnik.
Apart from Malaysia, every other partner country doing business with Russia has such considerations, with all of them now exploring opportunities to pursue the business further, Chandran said, while expressing confidence that if the system represents a good commercial solution, foreign institutions will definitely join.
At the same time, Russian private sector has become a lot more interested in Malaysia's industry. The key areas of their interest are health care and medical equipment, particularly dentistry, as well as agricultural exports, particularly palm oil, the ambassador noted. Malaysian companies are more frequently invited to Russia to present their products, and they now are looking into opportunities in the Russian market, he added.
In addition, Malaysia is now promoting a new high-quality fiber, kenaf, widely utilized in the shipping industry for packaging, Chandran said, stressing that by supplying this material, Malaysia can contribute significantly to Russian agricultural imports and shore up Russian manufacturing and the economy in general. Supplies of kenaf are being discussed by the bilateral economic cooperation commission as well as at the government level, he said.
A meeting of the Russian-Malaysian commission on economic, scientific, technical and cultural cooperation will probably be convened in the second quarter of the year, the ambassador said, recalling that the last meeting took place two years ago, with the 2021 meeting in Malaysia being canceled due to COVID-19 restrictions.
