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New Straits Times
5 days ago
- Business
- New Straits Times
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. He 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," he said 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 said 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. "Insya-Allah, I am confident that Malaysia-Russia cooperation will continue to develop positively and bring tangible benefits to our country," he added. – Bernama
Daily Express
5 days 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
5 days 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 Sun
5 days 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.
Borneo Post
25-06-2025
- Business
- Borneo Post
Malaysia, Russia explore new cooperation opportunities including energy sector
Fadillah and Overchuk exchange greetings in Moscow. – Bernama photo MOSCOW (June 25): Deputy Prime Minister Datuk Seri Fadillah Yusof today began his official working visit in the Russian capital with a bilateral meeting with his counterpart Alexei Overchuk. Fadillah, who is also the Minister of Energy Transition and Water Transformation, was accompanied by Deputy Foreign Minister Datuk Mohamad Alamin, and Malaysia's Ambassador to Russia Datuk Cheong Loon Lai. The bilateral meeting, held at the White House Moscow, discussed among other things the existing bilateral trade as well as exploring new cooperation opportunities, particularly in the energy sector, technology transfer, education, and training. The bilateral meeting will also be attended by Russia's Deputy Minister of Energy, Evgeny Petrovich Grabchak, and Deputy Minister of Economic Development, Vladimir Ilichev. Fadillah's working visit to Russia is a continuation of Prime Minister Datuk Seri Anwar Ibrahim's official visit to Russia on May 13-16 this year, aimed at deepening, enhancing, exploring new cooperation between the two countries. Diplomatic relations between Malaysia and Russia have been established since 1967. In 2024, Russia is Malaysia's ninth largest trading partner among European countries, with trade value reaching RM11.46 billion (US$2.48 billion). Malaysia's main exports to Russia include electrical and electronics products, machinery, equipment and spare parts, as well as processed food. – Bernama bilateral meeting economy energy fadillah yusof Russia
