Kuwaiti-Malaysian trade hits $620 mln in 2016

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Trade exchange between Kuwait and Malaysia reached $620 million in 2016, Malaysia’s External Trade Development Corporation (MATRADE) revealed on Monday. Speaking to KUNA on the sidelines of a press conference on the Malaysia International Halal Showcase (MIHAS), CEO of MATRADE Mohammad Shahreen said that he is sanguine that the trade volume between both nations will increase in the coming years.

Moreover, he said that total Malaysian exports to Kuwait stood at $180 million, while the Southeast Asian monarchy’s imports from Kuwait were worth $450 million. He noted that Kuwait is Malaysia’s third largest trade partner in the Gulf region and 43rd in the entire world, while it is also Malaysia’s fourth biggest export destination. Malaysia is due to host the threeday MIHAS expo, which runs from April 5-8th, an event set to showcase the meteoric growth of the Halal industry with expected participation of more than 70 nations and hundreds of companies. (KUNA