Malaysia-Kuwait 2015 Trade Likely To Maintain 2014 Level - MATRADE

KUALA LUMPUR, March 27 (Bernama) -- Bilateral trade between Malaysia and Kuwait is expected to maintain the 2014 level this year due to the global economic uncertainties, Malaysia External Trade Development Corporation (MATRADE) Deputy Chief Executive Officer Zulkifli Mahmud said. The bilateral trade rose 109.3 per cent last year to US$1.78 billion (US$1=RM3.66) compared with US$850.8 million in 2013. Kuwait is Malaysia's fourth largest trading partner in the Gulf Cooperation Countries (GCC), with Malaysia's exports to Kuwait amounted to US$284.7 million last year. "Kuwait is also Malaysia's biggest trading partner in the GCC, behind United Arab Emirates, Saudi Arabia and Qatar," he told reporters after witnessing the signing ceremony of a RM500 million memorandum agreement between 1Machine Sdn Bhd and Kuwait's Al Rifai Corporation here Friday. Zulkifli said Kuwait has a vibrant economy, but it is dominated by companies and products from the US and European countries. He commended 1Machine, a local technology-based company providing desktop, web and mobile application development services, for venturing into Kuwait as it would set the pace for other Malaysian companies to make inroads into the country. Under the contract, 1Machine will provide cloud-based internet security products, Perisai, consisting of personal, pro and business packages to Al Rifai. 1Machine Chief Executive Officer Abbyamir Sapie said via the partnership, the company would leverage on Al Rifai networks to expand and strengthen Perisai's presence in Kuwait as well as the Middle East and North Africa. "Our customer base stood at 50,000 to date and following this partnership, we are looking at increasing it up to 400 per cent," he added. Going forward, Abbyamir said 1Machine sees the contract value to grow as the company plans to offer bundle packages, comprising hardware and software. 1Machine applications are available in the UK, and it has a laboratory and call centre in France and the US, respectively. -- BERNAMA