Malaysia, Russia to improve bilateral trade in agriculture and fishing sectors

KUALA LUMPUR: Malaysia and are expected to sign a Memorandum of Understanding (MOU) in the agriculture and fishing sectors this year to further strengthen the existing bilateral relationshionship and trade between both countries.

The in a statement on Tuesday (Jan 31) said the MOU includes working relationship in modern farming, seedlings technology, fishing and acquaculture.

According to the statement, the initiative is in line with the need to ensure continuity and reliability in food production.

“The initiative was among the main topics of discussion between Agriculture and Food Safety Minister and Russian ambassaddor to Malaysia, Naiyl M Latypov, during their meeting in on Monday (Jan 30).

“During the meeting, Russia urged Malaysia to increase the export of agriculture products to Russia, including tropical fruits and seafood. Russia is also ready to export halal products and soy to Malaysia,” the statement said.

Also present during the meeting was the Ministry's chief secretary Datuk Lokman Hakim Ali, senior officers from MAFS and representatives from the Veterinary Services Department, Department of Fisheries and Agriculture Research Institute of Malaysia.

The statement added that Russia also invited Mohamad Sabu to attend the International Economic Conference on food security, organised by the country, this year.

Russia is Malaysia's trading partner and the two are actively strengthening their relationship in the trading of agricultural products.

For the period between January to October 2022, the value of agricultural and food products imported from Russia was RM0.77 billion.

Source : The Edge Markets

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