Latest news with #EnergyTransitionandWaterTransformation
Daily Express
8 hours ago
- Business
- Daily Express
DPM Fadillah: Malaysia, Russia to deepen economic ties in halal industry, agriculture
Published on: Saturday, June 28, 2025 Published on: Sat, Jun 28, 2025 By: Bernama Text Size: Deputy Prime Minister and Minister of Energy Transition and Water Transformation, Datuk Seri Fadillah Yusof (right) shares lunch with First Deputy Chairman of the Spiritual Administration of Muslims of the Russian Federation, Damir Vaisovich Mukhetdinov (left), after performing Friday prayers at the Moscow Cathedral Mosque, yesterday. — Bernama pic--fotoBERNAMA (2025) COPYRIGHT RESERVED Moscow: Malaysia and Russia will deepen economic cooperation, particularly in high-potential sectors such as the halal industry, agriculture and food security, Deputy Prime Minister Datuk Seri Fadillah Yusof said. Fadillah said bilateral trade between the two countries remained modest in 2024, despite Russia's large economy. Russia ranked as Malaysia's ninth-largest trading partner among European nations this year, with total trade reaching RM11.46 billion (US$2.48 billion). Malaysia's key exports to Russia include electrical and electronic products, machinery, equipment and parts, as well as processed food. 'I invited Russian companies to invest in Malaysia and take advantage of the government's incentives in strategic sectors such as aerospace, agrotechnology, energy, ICT (information and communications technology), the digital economy, Islamic finance and the halal industry,' the Deputy Prime Minister said. He was speaking at a press conference at the end of his four-day working visit to Russia late last night. Fadillah, who is also the Energy Transition and Water Transformation Minister, called for cooperation in agriculture and food security, and proposed joint research and development in fertiliser and pesticide technologies, agro-engineering and food technology. 'I discussed collaboration in higher education and conveyed appreciation to the Russian government for its scholarships to Malaysian students. 'I also proposed that these scholarships be extended to emerging sectors such as artificial intelligence, big data and information science, in line with current industrial transformation,' he said. On tourism, Fadillah said Malaysia welcomed a proposal for direct flights between the two countries, which is expected to be finalised soon. However, he noted that Russia had raised concerns over financial transactions, which had to some extent hampered the growth of bilateral trade. He gave an assurance that the Malaysian government, through the relevant agencies, including Bank Negara Malaysia, would continue to facilitate smooth financial transactions between both sides. 'I will present the outcomes of my discussions with Russian counterparts to the Cabinet upon my return to Malaysia. 'In shaa Allah, I am confident that Malaysia–Russia cooperation will continue to develop positively and bring tangible benefits to our country,' he added. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Barnama
9 hours ago
- Business
- Barnama
Malaysia, Russia To Deepen Economic Ties
BUSINESS From Siti Radziah Hamzah MOSCOW, June 28 (Bernama) -- Malaysia and Russia will deepen economic cooperation, particularly in high-potential sectors such as the halal industry, agriculture and food security, Deputy Prime Minister Datuk Seri Fadillah Yusof said. Fadillah said bilateral trade between the two countries remained modest in 2024, despite Russia's large economy. Russia ranked as Malaysia's ninth-largest trading partner among European nations this year, with total trade reaching RM11.46 billion (US$2.48 billion). Malaysia's key exports to Russia include electrical and electronic products, machinery, equipment and parts, as well as processed food. 'I invited Russian companies to invest in Malaysia and take advantage of the government's incentives in strategic sectors such as aerospace, agrotechnology, energy, ICT (information and communications technology), the digital economy, Islamic finance and the halal industry,' the Deputy Prime Minister said. He was speaking at a press conference at the end of his four-day working visit to Russia late last night. Fadillah, who is also the Energy Transition and Water Transformation Minister, called for cooperation in agriculture and food security, and proposed joint research and development in fertiliser and pesticide technologies, agro-engineering and food technology. 'I discussed collaboration in higher education and conveyed appreciation to the Russian government for its scholarships to Malaysian students.
The Star
10 hours ago
- Business
- The Star
Russia to support Malaysia's nuclear technology development, says Fadillah
MOSCOW: Russia has agreed to continue cooperating with Malaysia to build the country's capacity in nuclear energy development, covering institutional, human capital, technical, commercial and legal aspects, says Deputy Prime Minister Datuk Seri Fadillah Yusof. Fadillah, who is also the Energy Transition and Water Transformation Minister, said Russia's extensive experience in nuclear energy should be considered as Malaysia looks to enhance its future energy security. ALSO READ: Malaysia to consider adopting nuclear energy to accelerate net-zero target 2050 Speaking at a press conference after concluding his four-day working visit to Russia last night, he said one of the main objectives of the trip was to strengthen energy cooperation between the two countries. In addition to existing cooperation in coal imports, Fadillah said he and Russian Deputy Prime Minister Alexey Overchuk also discussed the potential for collaboration in the field of nuclear energy. "Russia possesses advanced technology in the peaceful use of nuclear energy. The country's experience in nuclear energy technology could support Malaysia's aspirations under the National Energy Transition Roadmap,' said Fadillah. He also held a meeting on Friday with Russian state nuclear firm Rosatom's director general Alexey Likhachev, during which discussions covered technical and operational matters, including legal frameworks, technology transfer and workforce training. According to Fadillah, the meeting opened the door for direct dialogue between Malaysia's technical agencies and Rosatom to assess potential areas of nuclear cooperation, including the strengthening and modernisation of the power grid, which would in turn have a positive impact on Asean Power Grid cooperation. He said the Cabinet had, in principle, approved the consideration of nuclear energy as part of Malaysia's future energy mix. "This is to address the current limitations in baseload energy supply. We are trying to reduce our dependence on coal and gas, but supply remains a challenge. "In addition, we face constraints in hydroelectric generation due to limited water resources. Globally, many now see nuclear power as an option that must be considered,' he added. Fadillah stressed that the government must first undertake a thorough study of nuclear technology, including public engagement efforts. "Public support is critical. This process must involve various ministries, agencies and NGOs to provide clear explanations. It can only proceed once an international agreement is signed and accepted by the majority of the public. This is the first step in that direction,' he said. Fadillah concluded his four-day working visit to Russia today. He also visited Uzbekistan from June 21 to 24. The Deputy Prime Minister's visit to Russia followed Prime Minister Datuk Seri Anwar Ibrahim's official visit to the country from May 13 to 16, aimed at enhancing and exploring new areas of cooperation between Malaysia and Russia. - Bernama
The Sun
11 hours ago
- Business
- The Sun
Malaysia, Russia to deepen economic ties
MOSCOW: Malaysia and Russia will deepen economic cooperation, particularly in high-potential sectors such as the halal industry, agriculture and food security, Deputy Prime Minister Datuk Seri Fadillah Yusof said. Fadillah said bilateral trade between the two countries remained modest in 2024, despite Russia's large economy. Russia ranked as Malaysia's ninth-largest trading partner among European nations this year, with total trade reaching RM11.46 billion (US$2.48 billion). Malaysia's key exports to Russia include electrical and electronic products, machinery, equipment and parts, as well as processed food. 'I invited Russian companies to invest in Malaysia and take advantage of the government's incentives in strategic sectors such as aerospace, agrotechnology, energy, ICT (information and communications technology), the digital economy, Islamic finance and the halal industry,' the Deputy Prime Minister said. He was speaking at a press conference at the end of his four-day working visit to Russia late last night. Fadillah, who is also the Energy Transition and Water Transformation Minister, called for cooperation in agriculture and food security, and proposed joint research and development in fertiliser and pesticide technologies, agro-engineering and food technology. 'I discussed collaboration in higher education and conveyed appreciation to the Russian government for its scholarships to Malaysian students. 'I also proposed that these scholarships be extended to emerging sectors such as artificial intelligence, big data and information science, in line with current industrial transformation,' he said. On tourism, Fadillah said Malaysia welcomed a proposal for direct flights between the two countries, which is expected to be finalised soon. However, he noted that Russia had raised concerns over financial transactions, which had to some extent hampered the growth of bilateral trade. He gave an assurance that the Malaysian government, through the relevant agencies, including Bank Negara Malaysia, would continue to facilitate smooth financial transactions between both sides. 'I will present the outcomes of my discussions with Russian counterparts to the Cabinet upon my return to Malaysia. 'In shaa Allah, I am confident that Malaysia–Russia cooperation will continue to develop positively and bring tangible benefits to our country,' he added.
New Straits Times
11 hours ago
- Business
- New Straits Times
Russia to support Malaysia's nuclear technology development
MOSCOW: Russia has agreed to continue cooperating with Malaysia to build the country's capacity in nuclear energy development, covering institutional, human capital, technical, commercial and legal aspects, Deputy Prime Minister Datuk Seri Fadillah Yusof said. Fadillah, who is also the Energy Transition and Water Transformation Minister, said Russia's extensive experience in nuclear energy should be considered as Malaysia looks to enhance its future energy security. Speaking at a press conference after concluding his four-day working visit to Russia last night, he said one of the main objectives of the trip was to strengthen energy cooperation between the two countries. In addition to existing cooperation in coal imports, Fadillah said he and Russian Deputy Prime Minister Alexey Overchuk also discussed the potential for collaboration in the field of nuclear energy. "Russia possesses advanced technology in the peaceful use of nuclear energy. The country's experience in nuclear energy technology could support Malaysia's aspirations under the National Energy Transition Roadmap," said Fadillah. He also held a meeting on Friday with Russian state nuclear firm Rosatom's director general Alexey Likhachev, during which discussions covered technical and operational matters, including legal frameworks, technology transfer and workforce training. According to Fadillah, the meeting opened the door for direct dialogue between Malaysia's technical agencies and Rosatom to assess potential areas of nuclear cooperation, including the strengthening and modernisation of the power grid, which would in turn have a positive impact on ASEAN Power Grid cooperation. He said the Cabinet had, in principle, approved the consideration of nuclear energy as part of Malaysia's future energy mix. "This is to address the current limitations in baseload energy supply. We are trying to reduce our dependence on coal and gas, but supply remains a challenge. "In addition, we face constraints in hydroelectric generation due to limited water resources. Globally, many now see nuclear power as an option that must be considered," he added. Fadillah stressed that the government must first undertake a thorough study of nuclear technology, including public engagement efforts. "Public support is critical. This process must involve various ministries, agencies and NGOs to provide clear explanations. It can only proceed once an international agreement is signed and accepted by the majority of the public. This is the first step in that direction," he said. Fadillah concluded his four-day working visit to Russia today. He also visited Uzbekistan from June 21 to 24. The Deputy Prime Minister's visit to Russia followed Prime Minister Datuk Seri Anwar Ibrahim's official visit to the country from May 13 to 16, aimed at enhancing and exploring new areas of cooperation between Malaysia and Russia. — BERNAMA
