HomeNationalMalaysia scrutinising Russian financial messaging system, may consider joining, says ambassador

Malaysia scrutinising Russian financial messaging system, may consider joining, says ambassador

Russian national flag is seen on a car in front of the Foreign Ministry in Prague April 21, 2021. — Reuters pic

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MOSCOW, April 23 — Malaysian financial institutions are carefully examining the Russian financial messaging system and are ready to join if it meets a number of criteria, Malaysian Ambassador in Moscow Datuk Bala Chandran Tharman told Sputnik.

He said that apart from Malaysia, every other partner country doing business with Russia has such considerations.

“All of them are now exploring opportunities to pursue the business further,” Chandran said while expressing confidence that if the system represents a good commercial solution, foreign institutions will definitely join.

Bala Chandran further added that the Russian private sector has become a lot more interested in Malaysia’s industry, at the same time.

“The key areas of their interest are health care and medical equipment, particularly dentistry, as well as agricultural exports, particularly palm oil.

“Malaysian companies are more frequently invited to Russia to present their products, and they now are looking into opportunities in the Russian market,” the ambassador added.

As Malaysia is currently promoting a new high-quality fibre, kenaf, Malaysia can contribute significantly to Russian agricultural imports and shore up Russian manufacturing and the economy by supplying the material.

“Supplies of kenaf are being discussed by the bilateral economic cooperation commission as well as at the government level,” he said noting kenaf as widely utilised in the shipping industry for packaging.

A meeting of the Russian-Malaysian commission on economic, scientific, technical and cultural cooperation will probably be convened in the second quarter of the year, the ambassador said, recalling that the last meeting took place two years ago, with the 2021 meeting in Malaysia being cancelled due to Covid-19 restrictions. — Bernama

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