Russia, Malaysia establish business council

Petronas Towers, Kuala Lumpur

Petronas Towers, Kuala Lumpur

Flicrt/ Alexandre Marchand
Council aims to boost trade and cultural ties.

In an attempt to boost bilateral trade and cultural and scientific cooperation, Russia and Malaysia announced the establishment of a business council on March 15, Bernama reports. 

The Russia-Malaysia Business Council was set up jointly by Russia’s Business Council for Cooperation with Malaysia (BCCM) and the Asian Strategy & Leadership Institute (ASLI), according to the report.

“The business council expects to patron about 100 investment projects in various Malaysian businesses and is positive on the agriculture and biotechnology sectors,” BCCM Chairman Vladimir Sautov told the news agency. He added that Russia was keen on investments and saw various opportunities to do so in Malaysia and the ASEAN region.

“We are hoping to promote Malaysia as regional hub for ASEAN to Russian investors and businessmen, who had expressed their interests to do so,” ASLI Chief Executive Michael Yeoh told Bernama.  “We are looking to enhance collaborations in science and technologies, promoting education and tourism to attract more Russians to Malaysia.”

Read more: China becomes largest consumer of Russian crude - report

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