Malaysia-Guinea Bilateral Trade To See Double-Digit Growth This Year

PUTRAJAYA, July 14 (Bernama)-- Bilateral trade between Malaysia and Guinea is expected to see double-digit growth this year. International Trade and Industry Minister Mustapa Mohamed said Malaysia viewed Guinea as a growing market with a lot of potential to be exploited by Malaysian investors. Last year, trade between the two countries increased 11 per cent to US$44.95 million with exports in favor of Malaysia at US$42.32 million. Palm oil was Malaysia's main export. Speaking to the media after a closed door meeting with his counterpart, Marc Yombouno here Monday, Mustapa said it was a follow-up to the visit by Guinea's President, Alpha Conde to Malaysia two years ago. "The country is rich in agriculture with more than six million hectares of land, a variety of mineral resources like iron and diamonds and also some petroleum," he added. Meanwhile, Yombouno said Guinea recognised Malaysia as an advanced country and was keen to attract more entrepreneurs from it. "We also need Malaysia's experience and expertise on Islamic finance while using Guinea as a staging point for investments in Africa," he added. -- BERNAMA