M'SIA-KUWAIT EYE FURTHER COOPERATION IN FACING ECONOMIC DOWNTURN

By Muin Abdul Majid

KUWAIT CITY, March 23 (Bernama) -- Malaysia and Kuwait have concurred on
the need to widen their trade and investment linkages to enable both countries
to weather the current economic downturn, said Prime Minister Abdullah Ahmad
Badawi.

The visiting Malaysian leader said this would include the possibility
of Malaysian and Kuwaiti companies joining forces to invest in a third country.

Abdullah was speaking to reporters after an audience with the Amir of Kuwait
Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah and talks with Kuwait Chamber of
Commerce and Industry (KCCI) chairman Ali Thunayan Al-Ghanim in conjunction
with his official visit to Kuwait Sunday.

"We'd like to see more Kuwaiti investments in Malaysia and continue our
cooperation in all fields that may lead to the economic recovery of our two
countries," he said.

Abdullah was earlier accorded a red-carpet welcome at the Liberation Hall
in Bayan Palace with Kuwaiti Prime Minister Sheikh Nasser Al-Mohammed Al-Ahmed
Al-Jaber Al-Sabah also present.

The Malaysian leader said Kuala Lumpur would like to see Kuwait increase
its investments in Iskandar Malaysia, a development corridor set up in the
southern Malaysian state of Johor.

Abdullah further said that Kuwait should consider investing in big-scale
agriculture projects in Malaysia, in line with the Southeast Asian nation's
push towards agriculture and food sufficiency.

"Sheikh Sabah said he was all for Kuwaiti businessmen or investment agencies
investing in Malaysia," he said, adding that both sides agreed on the need for
the private sectors of both countries to step up efforts to boost trade and
investment activities between the two countries.

The prime minister said petrochemical and public works were among possible
areas for further cooperation, with Malaysian companies being keen on
infrastructure development like roads, housing and hotel construction.

To a question, he said Malaysian trade promotions in the past had been well
received by the Kuwaiti business circles but it would take some time to see the
results on the ground.

Abdullah said both countries should also work towards making a success out
of their bilateral trade agreement.

Total bilateral trade between the two countries had been on the increase
over the past few years, hitting RM2.95 billion (US$887 million) in 2008 with
the balance of trade in Kuwait's favour at RM445.2 million (US$133.7 million).

-- BERNAMA