KUALA LUMPUR: Malaysia and Saudi Arabia have finalised negotiations on the establishment of a High Level Strategic Committee (HLSC) to hold regular consultations on various issues of mutual interest.
Foreign Minister Datuk Seri Hishammuddin Hussein said the key areas of consultation include regional and international political security issues, post Covid-19 economic recovery, haj and umrah matters, food security and palm oil trade.
The development came after Hishamuddin’s working visit to Saudi Arabia, during which he met his counterpart, Prince Faisal bin Farhan al-Saud yesterday (Feb 18).
“We both expressed our satisfaction with the current state of strengthened bilateral relations between Malaysia and Saudi Arabia, reaffirming our strong commitment to elevate existing bilateral consultations to a strategic level.
“Given the importance of building a strong and resilient economic recovery from the Covid-19 pandemic, we both also agreed to foster greater cooperation in the field of trade and investments, including on technology and innovation,” he said in a statement yesterday.
During his visit, Hishamuddin also met Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman Al Saud and discussed on maintaining oil market stability and means to enhance bilateral investment opportunities.
“There are several more meetings that have been arranged with the senior leadership of Saudi Arabia.
“This working visit has contributed towards augmenting further the close and fraternal ties between the two countries,” he said.
Saudi Arabia is Malaysia’s second largest trading partner in the Middle East with total bilateral trade valued at USD4.83 billion (RM20.27 billion) in 2020.- NST