Economy, Domestic Economy

Malaysian Trade Mission to Visit in May

Malaysian Trade Mission to Visit  in MayMalaysian Trade Mission to Visit  in May

A Malaysian business delegation, mostly made up of the country’s oil and gas sector players, is scheduled to visit Iran in May. The visit is aimed at expanding bilateral trade ties, said Dzulkifli Mahmud, chief executive officer of Malaysia External Trade Development Corporation, in Kuala Lumpur on Wednesday. “Now that the anti-Iran nuclear sanctions have been lifted, we are planning to increase joint investments and bolster our trade ties. Hopefully, we will double Malaysian exports to Iran,” Mahmud was quoted as saying by IRNA. According to the Malaysian official, bilateral trade stood at $487 million in 2015, indicating a 12% decline compared to the previous year, mostly due to the shrinking prices of oil and palm oil—the main commodities traded between the two countries.