KUALA LUMPUR: Malaysia said on Wednesday that it was hopeful of boosting its presence in the construction sector in Russia. The Southeast Asian country already has a growing presence in Russia's oil and gas industry as well as the timber sector, Malaysian Ambassador to Russia Zainol Abidin Omar told reporters. He said the country “hopes to take advantage of opportunities in this industry as the potential is enormous with Russia's President Vladimir Putin having stated plans for upgrading the country's infrastructure and transportation sector,” he said at the ongoing Asia Pacific Economic Cooperation (APEC) 2012 meetings in Vladivostok. He argued that potential for the construction industry is “especially high as it is largely unexplored.” Minister of International Trade and Industry, Mustapa Mohamed, who is representing Malaysia at the APEC Ministerial Meeting (APMM), which began on Wednesday, together with Foreign Affairs Minister Anifah Aman, is also expected to hold bilateral meetings with several APEC economies including Russia, the Bernama news agency reported. Zainol said that the meetings are looking to boost means for Malaysian business and trade opportunities between the two countries. “In 2011, trade between Russia and Malaysia amounted to US$1 billion and we hope to raise the trade level,” he said. Russia has been looking to increase its diplomatic and economic ties with Asia and Southeast Asia and the minister said this “is expected to see more collaboration” in a number of areas, including tourism. “With Russia becoming a new member of the World Trade Organization, we also hope that it would fulfill its obligations as a member and this hopefully will give Malaysia further opportunities.” He said Russia was a top tourism market with a population of 143 million and Malaysia “was aiming to get more Russians to come to Malaysia.” The goal of the tourism talks is to end visa requirements for Malaysian citizens to enter Russia in an effort to boost travel between the two countries.
