Malaysia, Palestine to ink trade MoU, set up Joint Business Council - Tengku Zafrul

KUALA LUMPUR: The Cabinet has agreed for Malaysia to sign a memorandum of understanding (MoU) on trade and economic cooperation with Palestine, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Tengku Zafrul said he had received a visit from the Palestinian Ambassador to Malaysia Walid Abu Ali at Menara MITI this morning.

"Malaysia is committed to helping Palestine rebuild its decimated economy. I will sign this MoU on behalf of the Malaysian government together with my Palestinian counterpart," he said in his social media post today.

Tengku Zafrul said the value of bilateral trade between Malaysia and Palestine in 2023 recorded a growth of 52.1 per cent or RM20.8 million as compared to 2022.

Hence, he said that under the MoU, trade between the two countries will increase.

The minister also said that a Malaysia-Palestine Joint Business Council will be established to increase cooperation between the business communities of the two countries.

"All these efforts reflect Malaysia's support for the development and well-being of the Palestinian people.

"The government is committed to voice support for the Palestinian struggle and will continue to work with friendly countries to find a just and lasting solution to the Palestinian issue," he added.

-- BERNAMA

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