Anwar's Russia visit this week aims to expand economic links, tackle payment challenges
MOSCOW, May 13 — Malaysia and Russia will explore ways to beef up trade and investment linkages while enabling seamless transactions between them to strengthen economic ties and cooperation during Prime Minister Datuk Seri Anwar Ibrahim's visit to Russia, Malaysia's Ambassador to Russia, Datuk Cheong Loon Lai, said Monday.
'The issue of payments was also discussed when the Prime Minister visited Vladivostok (for the Kazan Economic Forum) last year. I think both sides are very much engaged in finding ways (to facilitate seamless transactions and bolster trade relations).
'Interestingly, despite the challenges, trade between the two countries has been on an uptrend. Not only with Malaysia but trade and businesses between Russia with other countries in Asean have also been on the rise, including how Russia and Vietnam have had vibrant business exchanges taking place,' Cheong told a press conference ahead of Anwar's arrival today in the Russian capital for his official visit.
While here, the Prime Minister will meet Russian President Vladimir Putin and the country's Prime Minister, Mikhail Mishustin.
Anwar will head to Kazan in the Republic of Tatarstan on May 15 to attend the 16th International Economic Forum, entitled 'Russia-Islamic World: KazanForum'.
Cheong said Moscow has a lot to offer, especially in terms of technology.
'They are advanced in various technologies, and they have been keen to offer the expertise that they have,' he said, adding that both sides would explore ways to collaborate in these areas.
Cheong emphasised that Malaysia's multi-pronged approach in establishing ties with various countries is vital to navigate global uncertainties and build a more resilient trade framework.
He also noted that when the late Tun Abdullah Ahmad Badawi visited Russia in 2007, as the fifth prime minister, Malaysia's stance was something that was welcomed by the Russians, taking into account the global geopolitics then and now.
During high-level meetings between Anwar and Putin, the leaders would take stock of bilateral relations and advance cooperation in trade and investments, agriculture and agri-commodities, education, aerospace and energy.
The leaders will also exchange views on regional and international developments of mutual importance.
According to a statement by Wisma Putra, as chair of Asean in 2025, Malaysia will explore avenues to further deepen cooperation within the framework of Asean-Russia Dialogue Relations.
The Prime Minister will also engage industry leaders at a roundtable meeting; deliver a public lecture at the Moscow State Institute of International Relations (MGMO); and meet the Malaysian diaspora in Moscow.
In Kazan, the Prime Minister is scheduled to meet the Rais (head) of the Republic of Tatarstan, Rustam Minnikhanov, and deliver a special address at the meeting of the Strategic Vision Group 'Russia-Islamic World'.
The highlight of the Prime Minister's visit to Kazan is his participation in the XVI International Economic Forum, 'Russia-Islamic World: KazanForum', where he is invited to deliver a keynote address during the plenary session. The KazanForum is the main platform for economic cooperation between Russia and the countries of the Islamic world.
During his visit, Anwar will be accompanied by Foreign Minister Mohamad Hasan, Minister of Agriculture and Food Security Mohamad Sabu, Minister of Science, Technology and Innovation Chang Li Kang, Minister of Higher Education Dr Zambry Abdul Kadir, and Minister of Plantation and Commodities Datuk Seri Johari Abdul Ghani.
In 2024, Russia was Malaysia's ninth-largest trading partner among European countries, with total trade reaching RM11.46 billion (US$2.48 billion).
Malaysia's key exports to Russia include electrical and electronic products, machinery, equipment and parts, and processed foods.
The statement said that imports from Russia primarily comprise petroleum products, minerals and chemical and chemical-based products. — Bernama
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