Saudi-Malaysian deals give new impetus to bilateral ties: Experts

Saudi Arabia's King Salman shakes hands with Malaysia's Prime Minister Najib Razak during a deal signing ceremony between Saudi oil giant Aramco and Malaysian firm Petronas in Kuala Lumpur, Malaysia on Tuesday. (Reuters)

RIYADH: Newly signed deals between Saudi Arabia and Malaysia will give new impetus to bilateral relations, according to economic experts and academics.
On Monday, four deals were signed covering trade and investment, labor and human resources, science and education, and media. King Salman and Malaysian Prime Minister Najib Razak attended the signing ceremonies.
Dr. Salim Ajajah, an academic at Taif University, said the Kingdom maintains solid relations with Malaysia in particular, and other East Asian countries in general. He said the king’s tour of five Asian countries will have a positive impact on the Saudi economy, notably in the areas of technological localization, diversification of investments, and trade.
Economic expert Fadl Albo Ainain said the king’s visit to Malaysia has two dimensions: Boosting Islamic ties with Asian countries, and economic and trade aspects, which will have a great impact on Saudi investments.
Academic Dr. Mohammed Al-Subaihi said Saudi-Malaysian relations have been based on mutual respect since the establishment of diplomatic ties in the early 1960s.
Ali Al-Quraishi, a legal adviser and international arbitrator, said current regional developments have created fruitful political cooperation between the two countries.
Cooperation has developed into a strategic partnership, whereby Malaysia joined the Saudi-led Operation Decisive Storm to liberate Yemen from Houthi terrorism, he added.
Malaysia’s participation in the Northern Thunder joint military exercise with Arab and Islamic countries, held in Saudi Arabia in March 2016, provides substantial evidence of Saudi-Malaysian solidarity and cohesion, he said.
Chairman of the Council of Saudi Chambers (CSC), Dr. Hamdan Al-Samrin, said the Saudi business sector is optimistically following the king’s Asian tour, which is in line with Vision 2030’s objectives to solicit foreign investments, diversify the economy and promote business partnerships.
Secretary General of the Organization of Islamic Cooperation (OIC), Dr. Yusuf Al-Othaimin, said the king’s Asian tour embodies joint Islamic action, and boosts the OIC’s efforts to enhance political and business cooperation between member countries.