Najib: Look to Malaysia for products, services

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TRADE PROSPECTS: Exhibitors from Zimbabwe put on the finishing touches for their booth in conjunction with the ninth edition of LID2011 at Putrajaya International Convention Centre here. Najib, who officiates the event, says there are unlimited prospects in trade between Malaysia and African countries — at the same time, lauding the LID for having significantly raised trade between the two regions since the inception of the forum in 1995. — Bernama photo

PUTRAJAYA: African countries should look more towards emerging economies such as Malaysia for products and services as opposed to obtaining them from developed economies.

In making the call, Prime Minister Datuk Seri Najib Tun Razak said that small and medium enterprises (SMEs) from Malaysia and Africa should also cooperate as local SMEs had a lot to offer their African counterparts.

“SMEs of our countries can identify, determine and produce goods that we need.

“This could be an example of smart partnership cooperation in the future,” he said in his keynote address at the Ninth Langkawi International Dialogue 2011 (LID2011) here yesterday.

Najib, also the nation’s Finance Minister, said that there were unlimited prospects in trade between Malaysia and African countries.

He also lauded the LID for having significantly raised trade between Malaysia and Africa since the inception of the forum in 1995.

Last year alone, trade between them rose 39 per cent to RM25 billion compared with 2009, which could potentially increase further with Africa apparently experiencing a form of ‘economic resurgence’.

Between 2001 and 2010, gross domestic product (GDP) growth of the continent averaged 5.2 per cent annually — a growth rate which was also expected this year and which markedly outstripped the global average GDP of 4.2 per cent.

Najib also commended the inaugural business forum held on Saturday, describing the event as a great success as it provided a new and exciting platform for exploring business and investment opportunities between Malaysia and its partners.

“It also serves as a useful device to measure the business climate and potential, and I sincerely hope that this forum will continue to be part of future smart partnership dialogues,” said Najib. — Bernama