MIDA & Tatarstan's TIDA To Ink MoU To Formalise Collaboration

KUALA LUMPUR, June 6 (Bernama) -- The Malaysian Investment Development Authority (MIDA) and Russia's Tatarstan Investment Development Agency (TIDA), will work on a Memorandum of Understanding (MoU) to formalise and further promote and boost bilateral investment relations. The President of Tatarstan, Rustam Minnikhanov decided to set up the TIDA to be modeled after MIDA, during his visit to Malaysia in December 2010. Malaysian International Trade and Industry Minister Mustapa Mohamed, who attended the 18th APEC Ministers Responsible for Trade Meeting in the Tatarstan capital, Kazan, recently, met with Minnikhanov. He invited Tatarstan companies to explore opportunities in Malaysia and establish business collaboration between it and the ASEAN markets. This is part of the decision reached to step up trade and investment promotional activities involving the business communities of Malaysia and Tatarstan during the meeting. "Malaysia will also encourage its businessmen to visit Tatarstan to explore trade and investment opportunities there as well as neighbouring markets and explore joint venture opportunities," Mustapa added. He said it is imperative for the private sectors of both Malaysia and Tatarstan to stay engaged and more efforts must be undertaken towards this. Tatarstan is one of the most dynamic Russian republics with abundant natural resources. -- BERNAMA