M'sia mulls joining Russia's financial messaging system
He said apart from Malaysia, every other partner country doing business with Russia has such considerations.
“All of them are now exploring...
Malaysian financial institutions are carefully examining the Russian financial messaging system and are ready to join if it meets certain criteria, said Malaysian Ambassador in Moscow Bala Chandran Tharman (above) to Russian news agency Sputnik.
He said apart from Malaysia, every other partner country doing business with Russia has such considerations.
“All of them are 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.
He added that the Russian private sector has also become a lot more interested in Malaysia's industries.
“The key areas of their interest are healthcare and medical equipment, particularly dentistry, as well as agricultural exports, particularly palm oil.
“Malaysian companies are more frequently invited to Russia to present their products, and they now are looking into opportunities in the Russian market,” the ambassador added.
As Malaysia is currently promoting a new high-quality fibre, kenaf, Malaysia can contribute significantly to Russian agricultural imports and shore up Russian manufacturing and economy by supplying the material.
“Supplies of kenaf are being discussed by the bilateral economic cooperation commission as well as at the government level,” he said noting kenaf was widely utilised in the shipping industry for packaging.
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.
He said the last meeting took place two years ago, with the 2021 meeting in Malaysia cancelled due to Covid-19 restrictions.
- Bernama
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