Businesses from the Commonwealth of Independent States (CIS) which represents former Soviet Union’s countries, are keen to tap into Malaysia’s expertise in the halal market.
President of the International Association of Islamic Business (IAIB) Marat Kabaev who is leading a delegation to Malaysia said they are now looking for potential partners in the halal sector, including local firms that are interested to invest in the region to boost the economy of the Muslim society.
IAIB is a non-commercial organisation established in Moscow with the purpose to develop economic ties with Islamic countries.
“We are ready to work in the sectors that are not forbidden in Islam. We have visited Malaysia External Trade Development Corporation (Matrade) export centre and there are a lot of products that we are interested in,” he said after the ASEAN Chamber of Commerce-CIS forum and networking here, today.
He also said IAIB was planning to open an office in the country to further strengthen relations with Malaysia, as well as assist companies that are keen to do business in the country, ASEAN and CIS region
“We are keen to study Malaysia’s experience and together we hope to do many good deeds and improve the economy of the Muslims,” he added.
President of ASEAN Chamber of Commerce Datuk Moehamad Izat Emir said Malaysian businesses should seize the opportunity to explore business opportunities in CIS countries such as Russia, Kazakhstan, Uzbekistan, Kyrgyzstan and Azerbaijan.
At present, Malaysian participation in the region is mostly in the oil and gas, as well as chemical and chemical products sectors, among others.
“This opportunity opens the door for us to fully penetrate into all (CIS) countries and further grow our presence in the region,” he said, adding that it also presented an opportunity for Malaysia to become a new supplier for the region.
Meanwhile, founder and director of Eurasian Fund for the Development of Innovation, Bulat Kasymov was of the opinion that Malaysia has the potential to emerge as a technology producer.
“Malaysia is a good place to produce technology products and has the potential to compete with China,” he added.
The delegation, which arrived here yesterday for a four-day visit, is scheduled to visit the Department of Islamic Development Malaysia tomorrow to learn more about the halal industry, in particular, halal certification.
Source: The Edge Markets