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Malaysia, Philippines look to boost investment
Bikya Masr Published in Bikya Masr on 16 - 05 - 2012

KUALA LUMPUR: Malaysia and the Philippines are looking to increase their economic relationship and announced plans to hold the first Philippines-Malaysia Investment Partnership Forum on May 29.
The forum aims to boost trade and business between the two Asian countries, the Philippines Embassy in Kuala Lumpur said on Tuesday.
The embassy said in a press release that the forum aims to “bring together various business leaders from the Philippines and Malaysia to exchange ideas on how to further enhance economic and investment relations, including tourism and its infrastructure, mass housing, real estate development, business process outsourcing/information technology services, logistics and supply chain, transportation, Islamic banking/finance, energy/electricity, as well as agro-business.”
Philippines Vice-President Jejomar C. Binay plans to travel to Kuala Lumpur to give the keynote address for the forum, and Malaysian Minister of International Trade and Industry Mustapa Mohamed will also give his remarks.
Some 34 chief executive officers from leading Philippine companies are expected to take part in the forum. Officials from the Philippine Stock Exchange, the Philippine Chamber of Commerce and Industry, and other Philippine chambers of commerce are also expected to be present during the event.
“The investment forum is a perfect opportunity to further strengthen Philippine-Malaysia economic partnership, which has been improving in leaps and bounds. Bringing our respective business sectors together is expected to herald a sea change in bilateral relations, particularly in terms of boosting trade and investments between our two countries,” said J. Eduardo Malaya, Philippines ambassador to Malaysia.
In 2011, Malaysia was the Philippines' ninth largest trading partner, with total trade amounting to $3.7 billion, while it was the Philippines' 11th largest export and 8th largest import market.
Total Philippine exports to Malaysia in 2011 were valued at $1 billion, while imports from Malaysia during the same year amounted to $2.6 billion.

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