Salutations
Datuk Mohamed Razeek bin Md Hussain Maricar
Chairman, Malaysia-Qatar Business Council
His Excellency Salah Mohammed Al-Surour
Ambassador of the State of Qatar to Malaysia
Dato’ Seri N Gobalakrishnan
President, National Chambers of Commerce and Industry of Malaysia (NCCIM)
Mr. Gnanasambanthan Supramanion
Secretary General, NCCIM
Tan Sri, Datuk Seri, Datuk, Esteemed Council Members, Ladies and Gentlemen,
A very good morning to everyone.
1. It is an honour to stand before you today as we mark the first meeting of the Malaysia-Qatar Business Council (MQBC) under its new leadership for the 2024 – 2027 term. This gathering is not just a renewal of commitment but a reaffirmation of the economic and commercial ties between Malaysia and Qatar – the ties that have flourished since the establishment of diplomatic relations in 1974.
2. I extend my deepest gratitude to Datuk Mohamed Razeek bin Md Hussain Maricar for your continued leadership as Chairman of the Business Council.
3. As the Qatari proverb reminds us, “A tree begins with a seed.” As such, today, with the MQBC, we plant the seeds of new opportunities, cultivating a thriving partnership that yields prosperity for businesses in both Malaysia and Qatar.
Ladies and Gentlemen,
Strengthening Malaysia – Qatar Trade & Investment Relations
4. The bilateral trade and investment relationships have shown remarkable growth, reflecting the confidence and trust both nations place in each other.
5. Our total bilateral trade surged by an impressive 48.9%, reaching RM6.3 billion (USD1.4 billion), compared to RM4.2 billion (USD911.9 million) in 2023. While Malaysia recorded a trade deficit of RM4.07 billion (USD899.4 million), primarily due to the increase in imports of crude and petroleum products, this underscores the immense potential for greater collaboration in new and high-growth sectors.
6. Beyond oil and gas, there is vast potential for Malaysia and Qatar to diversify our trade basket – whether in high-value manufacturing, Islamic finance, halal sector or the digital economy. This is where the MQBC will play a crucial role in identifying and expanding these opportunities.
7. Malaysia deeply values Qatar’s continued confidence in our business environment. Qatari investments in Malaysia have historically been concentrated in real estate and hospitality, but we believe there is strong potential to broaden this portfolio.
8. As Malaysia works toward its ambition of becoming a regional leader in advanced manufacturing and high-value industries by 2030, we welcome Qatari investors to explore emerging sectors such as:
a. Food manufacturing and agriculture – tapping into Malaysia’s strong halal ecosystem;
b. Oil & gas, petrochemicals, and metal products – leveraging our expertise and infrastructure;
c. Aerospace – as Malaysia positions itself as a hub for high-value engineering;
d. Renewable energy; and
e. AI and digital economy.
9. Furthermore, we also commend the trust placed in Malaysian companies, evident in various projects awarded by Qatari entities. We hope this trend continues, with Malaysian businesses gaining more opportunities to contribute their expertise in Qatar’s economic diversification efforts.
Ladies and Gentlemen,
Facilitating Business Growth Through the MQBC
10. The MQBC serves as a crucial platform for Malaysian businesses to navigate the Qatari market. By facilitating connections, fostering partnerships, and providing market intelligence, the Council will ensure that Malaysian businesses are well-positioned to tap into Qatar’s economic transformation under its National Vision 2030. Malaysia, as a business-friendly nation, remains committed to supporting Malaysian companies in Qatar and welcoming Qatari investors to establish a strong presence in Malaysia and across ASEAN.
A Look Back – and Forward
11. Malaysia and Qatar have a proven track record of successful collaborations. One notable example is how Malaysian expertise contributed to major infrastructure projects in Qatar, including the Hamad International Airport and the Lusail Stadium for the FIFA World Cup 2022. These successes showcase Malaysia’s capability and reliability as a trade and investment partner.
12. Moving forward, there is significant potential for deeper collaboration in high-growth sectors such as technology, digital trade, green energy, and industrial development. By leveraging each other’s strengths, Malaysia and Qatar can drive sustainable economic progress, foster innovation, and build a future-proof partnership that benefits both nations in the long run.
ASEAN-GCC-China collaboration
13. Malaysia is hosting the Asean-Gulf Cooperation Council-China Summit in May. Building on the strong footing of Malaysia-Qatar economic cooperation, we would like to build a strong Asean-GCC cooperation and beyond. We live in a chaotic period of world history, and it is in such moments that we should go the extra lengths to create new ties to sustain trade.
Thank you.