malaysiangThe Secretariat on Regional MADANI Initiatives (IMAR) aims to generate a revenue of RM4.6 billion over a three-year period (2023-2026) through a memorandum of understanding (MoU) on trade matching signed with 50 companies from four neighbouring countries today.
Its chairman, Mohd Azmi Abdul Hamid said the signing of the MoU is to expand the Malaysia-Thailand border economy in addition to Bangladesh, Indonesia and Cambodia.
“This initiative is being carried out to explore potential cross-border trade opportunities in various sectors in addition to building relationships with the private sector at the small and medium entrepreneur level.
“We will send a memorandum to Prime Minister Datuk Seri Anwar Ibrahim to propose that this initiative be considered in an effort to improve the country’s status among the world’s 30 largest economies,” he told reporters after the Malaysia-Thailand Border Trade Conference here today.
The two-day conference, which began yesterday, was held to discuss the issue of import-export procedures and laws between Malaysia, Thailand, Bangladesh, Indonesia and Cambodia.
Mohd Azmi said among the sectors to be explored are agricultural products, the food and beverage industry, halal products, tourism, non-subsidised goods, green energy industry and animal husbandry.
Mohd Amin, who is also the Malaysia Consultative Council of Islamic Organisations (MAPIM) president, also said his team will also propose a Malaysia-Thailand border business chamber to be created under IMAR to strengthen trade networks in various sectors based on MADANI economic values.
“We found that the border trade mechanism needs to be clearly and inclusively drafted. The concept of economic equalisation that involves all levels including subordinates needs to be applied in developing a humane economic structure,” he added.
Source: BERNAMA News Agency
