HARI KECEMERLANGAN FAKULTI PERAKAUNANA 2011/2012

1

SPEECH

YB DATO’ MUKHRIZ MAHATHIR
DEPUTY MINISTER OF INTERNATIONAL TRADE AND INDUSTRY

1

SPEECH

YB DATO’ MUKHRIZ MAHATHIR
DEPUTY MINISTER OF INTERNATIONAL TRADE AND INDUSTRY

HARI KECEMERLANGAN FAKULTI PERAKAUNANA 2011/2012

‘EXCELLENCE: THE DOOR TOWARDS FUTURISTIC TRANSFORMATION’

10 APRIL 2012 (TUESDAY)

DEWAN BANKUET INTEKMA RESORT

Assalamualaikum W.B.T, Good Afternoon and Salam 1Malaysia.

Yang Berbahagia Dato’ Profesor Ir. Dr Sahol Hamid Abu Bakar,
Vice Chancellor of UiTM;

Yang Berbahagia Dato’ Abdul Nasser Abu Kassim,
Regional Head, Government and Middle East Business Development, Air Asia;

Yang Berbahagia Datuk Rozman Hussin,
Managing Director, Digicity;

Yang Berbahagia Datin Paduka Norazlina Zakaria,
Timbalan Pengurus Besar, Hal Ehwal Korporat, PKNS;

Yang Berbahagia Prof Dr Rozainun Abdul Aziz,
Dean, Faculty of Accountancy UiTM;

Lecturers and Students;

Distinguished Guests.

1. First of all, I would like to thank the organizing committee for inviting me to officiate this event. I am glad to be amongst the promising accounting students of UiTM.

2. My sincere congratulations go to all of you for being exemplary students. I am certain that your faculty and UiTM are proud to count you as their students. You make the noble concept that is embodied by UiTM a success.

Honourable Guests,

3. As you well know, Malaysia is embarking on a momentous transformation into a high-income economy by the year 2020. We envision ourselves as having a highly productive culture that rests on high-technology industries which will create higher income for the Rakyat. This will then lead to a better quality of life for Malaysians.

4. One of the fundamental prerequisites of a high-income nation is the quality of our human capital. We want our human capital to not just be competent and equipped with the necessary knowledge and skills but to also be creative and innovative. This is what will take Malaysia forward and into a developed-nation status.

5. The future of Malaysia is about you and your place in it. In fact, if recent trends are anything to go by then all of you will be at the centre of the new world economic order. With Asia as the renewed engine of global growth I would expect you to be at the forefront of new discoveries and trends.

6. It may be of interest to you that the Guardian newspaper published some startling figures last year. The report found that a common factor of revolutions in Tunisia and Egypt and protests elsewhere in the Middle East and North Africa is the “soul-crushing high rate of youth unemployment”. According to the report up to twenty-four percent of young people in the region cannot find jobs. The nonexistence of employment opportunities served as the spark for the unrest. Youth unemployment is also a reality of life in other parts of the world. In the UK, young people aged between 16 to 24 who make up approximately 40% of all unemployed which translates into 1 million young adults without work. In Spain more than 40% of young people are unemployed. In France the rate is more than 20%, and in the US it's 21%. In country after country, many young people have even given up looking for work. Furthermore, the report cites a recent survey in the UK that revealed more than half of the 18-25 year olds surveyed expressed their intention to emigrate to look for jobs.

7. The situation in Malaysia is very very different. We haven’t enough young skilled and educated people in the right industries to fill the present vacancies. The Economic Transformation Programme is creating ever more opportunities on the horizon. My young friends, as they say the world is your oyster. Do not be afraid to embrace this world in a way that will make others look in awe upon your religion, your nation and your race.

8. However, in our pursuit of success let us always be honest and sincere. Having integrity is something that we can truly be proud of and this quality will never go out of fashion so to speak. Our good name is what others will remember us for and the best legacy you can leave your children and the next generation.

9. Warren Buffet or popularly known as the Oracle of Omaha said, ‘In looking for people to hire, you look for three qualities: integrity; intelligence and energy. And if they don't have the first, the other two will kill you’.

My young friends,

10. The role of accountants is important to maintain order in how finances are managed. Leaders have to be accountable to the way a country's finances are handled. We can't be spending more than we have or can afford by way of borrowings lest we want to end up bankrupt like Greece sending ripples throughout the EU and indeed the world.

11. It’s easy for Pakatan Rakyat to make promises purely to confuse and deceive the electorate, but they don't have any sound plans on how to fund these concessions other than taking more and more money from Petronas. It is just a pie in the sky. Empty promises. Deceit and lies. The abolishment of highway tolls, PTPTN, to increase fuel subsidies etc are empty promises which will leave us with a destabilised economy that would do more harm to the people when all hell eventually breaks loose like in Greece.

12. Will we end up begging for bailouts from the International Monetary Fund like what the former Deputy Prime Minister cum Minister of Finance did in 1998? Isn't it enough proof that the BN Govt has been practising good governance in managing our national coffers when we have paid off completely our World Bank debts amounting to RM7bil, and have only 10% left to pay to the Asian Development Bank for its RM3bil loan to us?

13. Also, it is general perception that accountants are only interested in balancing numbers, and are risk adverse - and as such they make bad entrepreneurs. Thus it is important that accountancy-trained entrepreneurs be able to take calculated risks in order to compete in the biz world.

14. Malaysia's way to generate wealth is by taking risks, albeit calculated ones, which have proven to be correct in making us the 24th largest trading nation in the world. We are among the most attractive investment destination for hi-tech industries. If we were timid in our approach to develop the economy, we wouldn't have succeeded as well as we have.

15. Allow me to cite an example of our determination, resolve and intelligence in solving problems in how we used capital controls to defend our currency and stock market from foreign attacks despite the foreign currency speculators and Western dominated international organizations like the IMF working hand in glove with the Western media and colluding with our own Deputy Prime Minister then to severely rupture the Malaysian economy. Images of Presidents and Prime Ministers of South East Asian Nations bowing before the IMF in signing ceremonies effectively handing over their economies to the IMF made headlines in magazines such as the Times and The Economist. Malaysia was deemed the “pariah” of the global economic and financial order. Our former Prime Minister faced relentless attacks from Western leaders and a barrage of disparaging reports on the so called “sin” that Malaysia has committed. If it was wrong to want to protect our sovereignty from foreign control, to want to have control of our own destiny, to want to protect our banks, small and medium companies or family owned companies- or to do what we think is right for us then so be it. And guess what? Today the world acknowledges that the IMF forced flawed instruments on countries that took its aid. That destroyed many people livelihoods and drove many more to suicide. In fact, if you are following recent events in the United States you can’t help but think of the wrong policies and theories that they have adopted and indeed forced other nations to adopt to their own detriment. I would argue that Western nations can learn from Malaysia’s experience in handling the 1997 Asian crisis though I doubt that they would be able to effectively implement even parts of what we did considering the political gridlock in the US for example.

16. Thus, it is our prudent management of our finances and our sound economic theory and stable Government that cares for the people which is why we have made PTPTN available. This fund is meant to give students from poor backgrounds an opportunity denied to them due to their unfortunate circumstances. We want to give everybody a chance to achieve their full potential even if they come from poor families. Furthermore, the Malaysian Govt foots 90% of our education costs unlike some countries like Chile for example where students rioted for months burning cars, throwing rocks and smashing windows with scores of students and police injured. All the students wanted were “free and equal” public education. That is exactly what we have here and more.

17. On another note, I believe that accountants have another important role to play in the fight against corruption. With your skills you are equipped to sniff out irregularities and corruption. It is part of your profession to assist the Govt to reduce corruption in whatever capacity you serve be it in Government or in the private sector. To date many organizations and companies have signed a Corporate Integrity Pledge or an Integrity Pact with the Malaysian Anti-Corruption Agency. Most recently, Felda Global Ventures Berhad and Federal Land Development Authority signed both types of pledges with the MACC.

My friends,

18.Work with me and let’s chart the future of our nation together. It won’t be easy and will require lots of sacrifice but our struggle will be worth it and rewarding in itself. As our Tokoh Pendidikan, Aminuddin Baki rightly said – ‘Tuah itu tidak datang menggolek atau jatuh ke riba kalau kita tidak mengusahakannya’.

19. And with that, I would like to end my short speech by congratulating the recipients of today’s awards. I wish you the very best in your future endeavours. Please feel free to contact me on my twitter @MukhrizMahathir and perhaps we can exchange new ideas.

20.Thank you.

MAJLIS PELANCARAN PENJENAMAAN BARU WAWASANITA MALAYSIA

DERAF TEKS UCAPAN

YB DATO’ MUKHRIZ MAHATHIR
TIMBALAN MENTERI PERDAGANGAN ANTARABANGSA DAN INDUSTRI

MAJLIS PELANCARAN PENJENAMAAN BARU WAWASANITA MALAYSIA

6 MAC 2012 (SELASA)

KOMPLEKS SOGO, KUALA LUMPUR

Assalamualaikum W.B.T dan Salam 1Malaysia.

Yang Berbahagia Hajah Noor Hayati Ab Rahman,
Presiden Persatuan Usahawan Wawasan Wanita Malaysia (Wawasanita); dan

Tuan-tuan dan Puan-puan yang saya hormati sekalian.

1. Terlebih dahulu marilah kita bersama-sama memanjatkan setinggi-tinggi kesyukuran kehadrat Allah S.W.T kerana dengan limpah kurnia-Nya dapat kita berkumpul pada majlis tengahari ini.

2. Sebelum meneruskan bicara, saya terlebih dahulu ingin mengucapkan ribuan terima kasih kepada pihak Wawasanita kerana sudi menjemput saya merasmikan majlis ini.

Para hadirin sekalian,

3. Persatuan Usahawan Wawasan Wanita Malaysia atau lebih dikenali sebagai Wawasanita merupakan satu platform efektif kepada para usahawan wanita Bumiputera, terutama kepada Usahawan SOHO yang berniaga secara kecil-kecilan dari rumah untuk terus bersaing dan merebut peluang–peluang perniagaan dalam menghadapi suasana ekonomi yang mencabar di era globalisasi masa kini.

4. Saya ingin mengambil kesempatan ini untuk mengucapkan terima kasih kepada Hajah Noor Hayati, selaku Presiden Wawasanita, di atas komitmen beliau bagi melaksanakan pelbagai program pembangunan keusahawanan. Saya dimaklumkan antara pendekatan bersepadu bagi program pembangunan usahawan wanita Bumiputera yang sedang dilaksanakan oleh Wawasanita adalah melalui Program Pembangunan Usahawan SMART SOHO (Small Office, Home Office). Program SMART SOHO ini adalah satu inisiatif dan kesungguhan Wawasanita untuk menggalak, memupuk dan membangunkan usahawan SOHO, bertujuan supaya usahawan SOHO mempunyai sikap positif, berilmu dan berkemahiran untuk menjadi sebuah entiti yang besar dan berdaya saing di peringkat domestik dan global.

5. Malah, kesungguhan Wawasanita menerajui Keusahawanan SOHO adalah amat dialu-alukan dan bertepatan pada waktunya. Saya melihat bahawa Keusahawanan SOHO ini dapat membantu ibu-ibu yang ingin meninggalkan pekerjaan harian mereka, ibu tunggal, Orang Kurang Upaya (OKU), warga emas dan graduan lepasan universiti untuk memulakan perniagaan dari rumah sambil dapat meluangkan lebih bnayak masa bersama keluarga. Apabila perniagaan itu dapat dibudayakan di dalam kehidupan masyarakat, maka penglibatan pelbagai pihak di dalamnya akan menjadi lebih mudah kerana persekitaran perniagaan yang wujud itu sendiri akan membantu membangkitkan rasa minat dan memecah segala halangan persepsi yang selama ini membelenggu masyarakat orang Melayu. Saya ingin menyarankan agar para usahawan untuk terus berusaha gigih di dalam mempertahankan dan memperkembangkan perniagaan yang sedia ada dan menerokai potensi peluang-peluang perniagaan yang baru.

Para hadirin sekalian,

6. Saya ingin mengucapkan tahniah kepada Wawasanita kerana mengambil inisiatif untuk bekerjasama dengan Rakan Strategik daripada pihak swasta. Peranan Rakan Strategik amat penting untuk merialisasikan agenda persatuan. Ini merupakan satu perkembangan yang positif. Dengan penglibatan Rakan Strategik seperti Shamshul Smart Ventures, Sogo (K.L.), Agel Malaysia dan Zazen Health Solutions, dapat mewujudkan lebih ramai Usahawan SOHO dan produk-produk baru serta program yang bersepadu untuk membimbing usahawan-usahawan di bawah naungan Wawasanita. Saya ingin mengambil kesempatan ini mengucapkan ribuan terima kasih kepada pihak SOGO (K.L) kerana sudi tampil ke hadapan bekerjasama dengan pihak NGO seperti Wawasanita untuk membantu menjayakan aspirasi transformasi ekonomi kerajaan di dalam membangunkan lebih ramai usahawan.

7. Kerajaan akan terus membantu serta membimbing para usahawan atau bakal usahawan untuk terus berdaya saing dan menjadi usahawan glokal menerusi bimbingan, bantuan modal serta khidmat nasihat teknikal. Agensi-agensi kerajaan khususnya di bawah MITI seperti Institut Keusahawanan Negara (INSKEN), SME Corp, MATRADE, MIDA, MIDF, MPC dan SME Bank sentiasa bersedia dengan fungsi tersendiri mereka di dalam memberi bimbingan, membangun, memantapkan perniagaan, meningkatkan kualiti, memberi bantuan berupa geran persamaan dan pembiayaan, seterusnya bersedia membantu mencari pasaran-pasaran bagi produk dan perkhidmatan yang ditawarkan oleh pengusaha tempatan. Agensi-agensi kerajaan yang lain seperti JPW, FAMA, MARDI, SIRIM, MARA, TEKUN dan lain-lain juga adalah di antara agensi-agensi yang boleh menjadikan visi dan cita-cita tuan-tuan dan puan-puan sekalian menjadi realiti.

Para hadirin sekalian,

8. Sektor PKS merupakan antara enjin penggerak ekonomi negara. Sektor ini menyumbangkan kira-kira 30 peratus daripada Keluaran Dalam Negara Kasar (KDNK) dan 50 peratus peluang pekerjaan di Malaysia. Dengan adanya usahawan-usahawan yang ramai menerokai pelbagai sektor perusahaan kecil dan sederhana (PKS) seperti sektor pertanian, penternakan, pembuatan, pelancongan dan sektor perkhidmatan, maka negara akan lebih dapat bergantung kepada kekuatan ekonomi dalaman. Inilah di antara strategi Kerajaan di dalam menyerap ketidakstabilan dan kelembapan ekonomi di peringkat global.

9. Sehubungan dengan ini, saya ingin mengingatkan bahawa tuan-tuan dan puan-puan sebenarnya berperanan di dalam memastikan ekonomi negara terus berkembang maju. Kerajaan sangat menghargai peranan yang telah dan sedang tuan-tuan dan puan-puan mainkan. Oleh itu, peranan sokong menyokong yang wujud di antara pihak Kerajaan dan swasta sentiasa perlu dipertingkatkan dari semasa ke semasa.

10. Asal saja ada kemahuan, di situlah membenihnya kejayaan. Berusaha, berazam, berdisiplin dan jujur terhadap perniagaan yang tuan-tuan dan puan-puan sendiri bangunkan, Insya-Allah kejayaan pasti akan datang. Tidak mungkin Kerajaan mampu untuk menyediakan segala-galanya. Tiada mana-mana Kerajaan di dunia ini yang menjalankan ‘dasar lampu aladin’. Tetapi hakikatnya Kerajaan telah, sedang dan akan terus menyediakan segala prasarana samada prasarana fizikal mahupun prasarana kewangan untuk membantu para pengusaha dan usahawan. Jika tuan-tuan dan puan-puan bijak untuk memanafaatkan sepenuhnya peluang dan kemudahan yang disediakan ini, saya yakin tuan-tuan dan puan-puan akan berjaya mencapai sepertimana yang dicitakan.

Para hadirin sekalian,

11. Saya mengharapkan agar Wawasanita akan menjadi peneraju Usahawan SOHO di kalangan usahawan wanita. Agar program pada hari ini dapat membuka minda para usahawan wanita sekalian agar lebih berdaya maju dalam bidang perniagaan masing-masing. Saya juga berharap agar Wawasanita akan dapat terus memainkan peranannya dalam membantu Kerajaan menjayakan matlamat mewujudkan Masyarakat Perdagangan dan Perindustrian Bumi (MPPB).

12. Akhir kata, saya mengucapkan selamat berjaya kepada semua yang hadir. Dan tahniah saya ucapkan kepada seluruh warga Wawasanita di atas inisiatif memperbaharui jenama persatuan. Saya yakin ianya merupakan satu transformasi yang positif untuk memajukan persatuan dan ahli-ahli persatuan yang terdiri daripada usahawan dan bakal usahawan yang turut sama menjayakan misi kerajaan di dalam memacu perkembangan pelbagai sektor perniagaan dan industri negara.

13. Dengan lafaz 'Bismillahirahmanirrahim', saya dengan ini merasmikan Majlis Pelancaran Penjenamaan Baru Wawasanita.

14. Sekian, terima kasih.

LAUNCHING OF COLLABORATIVE PRODUCT ON POWER MANAGEMENT TECHNOLOGY

SPEECH

YB DATO’ MUKHRIZ MAHATHIR

DEPUTY MINISTER OF INTERNATIONAL TRADE AND INDUSTRY

AT

LAUNCHING OF COLLABORATIVE PRODUCT ON POWER MANAGEMENT TECHNOLOGY

20 FEBRUARY 2012 (MONDAY)

BALLROOM C, KUALA LUMPUR HILTON

Assalamualaikum W.B.T and Salam 1Malaysia.

Yang Berbahagia Datuk Abdul Wahab Abdullah,

President and Chief Executive Officer of MIMOS;

Yang Berbahagia Dr. Kamarulzaman Mohamed Zin,

Chief Executive Officer of Silterra Malaysia SdnBhd;

Members of the Media;

Honourable Guests.

1. First of all I would like to thank the organizers for their kind invitation for me to witness this new beginning between two Malaysian-owned semiconductor companies engaged in the area of semiconductor process development and wafer fabrication.

2. To my mind this is a smart consolidation if not collaboration between these two local businesses which complement the Government’s desire for higher value and knowledge-intensive investments to boosts our nation’s competitiveness.

3. I am made to understand that this collaboration involves Power Management Integrated Circuit (PowerMOS) technology transfer. These Integrated Circuits are used mainly in power management and energy efficiency applications. This derived application functions to regulate the delivery of energy to components of electronic devices or equipment. This will then improve the power efficiency of electrical systems. Therefore, this outcome is also in line with the Government’s policy to reduce energy wastage.

4. I am also told that globally the Total Available Market (TAM) for Power MOSFET (Metal Oxide Semiconductor Field-Effect Transistor) is estimated at USD5 billion with a compound annual growth rate of 7%. The TAM for China alone is expected to grow from USD2.5 billion to USD3.5 billion between 2012 and 2015. It is envisaged that this collaboration will create the right kind of synergy to capture a slice of this lucrative China market.

Honourable Guests,

5. As a result of this technology transfer whereupon Silterra being the technology provider and MIMOS having state-of-the-art wafer fab facility would jointly be able to monetize current equipment capacity in MIMOS’ fabrication facility located in Technology Park Malaysia (TPM) while still providing R&D support for our countries needs.

6. For your information, MIMOS Wafer Fab currently serves local and international foundry customers from Taiwan, Korea and Singapore. Thus it is encouraging to see two local companies work together to reduce our nation’s production dependency on foreign countries or companies.

7. To my mind, we must leverage off Silterra’s process technology and know-how for the benefit of their stakeholders as well as our nation. This exercise could help generate additional economic activities that contribute to our country’s GNI while optimizing available assets. MIMOS would also be able to offer its expertise to a wider range of customers be it local or foreign with this newly acquired technology. This is a win-win strategy.

Honourable Guests,

8. I am further made to understand that this year 2012, Silterra has locked in several new customers for the manufacturing facility at MIMOS to the tune of 1,000 to 2,000 wafers per month at the very least. A large portion of these wafers will be marked for the export market.

9. Also, human capital development is another facet of this collaboration which positively contributes to our talent pool as we ready ourselves for the push towards intensive wafer fabrication and integrated circuit design activities in tandem with our Economic Transformation Programme (ETP). It brings us closer to our goal of creating high-income jobs. For your information, under the Entry Point Projects (EPPs), our target is to develop as many as 2000 jobs through integrated circuit design firms.

10. Finally, it is hoped that spin-off business opportunities will be created through this Silterra-MIMOS collaboration.

11. Rest-assured we fully support such high-technology transfers. In fact, I would urge other companies to do the same and get in touch with MITI. We will do all we can to help you.

Distinguished guests,

12. Allow me to end my short speech with a quote from an icon; Steve Jobs- “When you're a carpenter making a beautiful chest of drawers, you're not going to use a piece of plywood on the back, even though it faces the wall and nobody will ever see it. You'll know it's there, so you're going to use a beautiful piece of wood on the back. For you to sleep well at night, the aesthetic, the quality, has to be carried all the way through."

13. And with that, I would like to once again thank the organizers for their kind invitation. I wish you all the best in this collaboration.

14. Thank you.

MALAYSIA GLOBAL BUSINESS FORUM 2012

MALAYSIA GLOBAL BUSINESS FORUM 2012

STRATEGIC PARTNERS: MALAYSIA & THE ARAB WORLD

21 FEBRUARY 2012

Your Excellencies and distinguished guests.

Thank you for inviting me to this session of yourforum on Malaysia’s relations with Arab nations.

We have always regarded the Arab countries as our strategic trade and investment partners and this forum gives us an opportunity to forge closer business links between Malaysian and Arabentrepreneurs.

The global economy is facing very challenging times. Sluggish growth in the United States and a worsening debt crisis in the Eurozone suggest that we need to be prudent in managing our economic affairs.

The coming months will therefore test our economic resilience to the fullest. Let us, therefore, intensify our trade and investment engagement so that we can minimize the impact of the global economic slowdown on our countries. We need to build on our strengths and find ways to sustain the momentum of our own economic growth.

Honourable guests,

Allow me to share with you an overview of how Malaysia is positioned to do business with the Arab world. In the past, Malaysia’s economy was driven by manufacturing and the export of commodities. Over the last two decades, we have expanded and diversified our economy, and are now focussed on developing more high value and capital-intensive manufacturing industries.

Our strategic geographical location has also enabled us to serve as the gateway to Asia for Arab businesses.

For your information, we recovered quickly from the economic slowdown of 2009. Our economy grew by 5.1 per cent last year. And we are confident we will do just as well, if not better, this year.

Our manufacturing sector continues to attract foreign investment. Our focus has expanded and we are on the lookout for quality investments in the services sector.

Last year, the Government opened up 17 services sub-sectors to foreign equity participation. Foreigners can now own up to 100% of businesses in sectors such as telecommunications, private higher education, international schools and private hospitals services. This should pique your interest.

Distinguished guests,

On the trading front, our trade with Arab countries increased four-fold over the last ten years, topping US$17.6 billion in 2011. However, this trade is confined to a narrow range of products. Our main exports were palm oil, electrical & electronic products and chemical & chemical products. Petroleum & petroleum products constitute our main imports from the Arab region. Thus there is a lot of room for us to improve our trade mix.

There are also other industries where Malaysian companies can provide you with competitive products and services - such as halal food and services, oil and gas equipment and services, building materials, pharmaceuticals and healthcare services, including medical tourism. These are some of the areas I urge you to explore during your business matching sessions which have been scheduled for this afternoon.

It is heartening to note that investments into Malaysia from Arab countries, especially from the Gulf region, have been growing. Major investments are coming from Qatar, UAE, Saudi Arabia and Kuwait. These investments are mainly in real estate, shopping malls, hotels, financial services and healthcare services.

Conversely, Malaysian companies are also investing abroad. Malaysian companies have established a strong presence in the Arab region. Companies such as IJM Construction, WCT Engineering, Eversendai Engineering and Malaysia Airports Holding have built a strong reputation in the construction of ports, airports, road and highways, bridges, residential and commercial buildings, and power generation facilities in the Western Asia region. Many of these Malaysian companies have teamed up with Arab partners and employ highly skilled Malaysians.

Malaysia is today a premier international Islamic financial centre for the origination, distribution and trading of Islamic capital market products, including treasury instruments such as sukuk. Currently, there are ten Islamic banks in Malaysia of which three are Arab, including a consortium led by the Qatari Islamic Bank. I would urge companies that are seeking Islamic financing facilities to take advantage of the wide range of Syariah-compliant services available in Malaysia.

The second sector that I would like to make a special mention of is halal products and services. Malaysia is actively developing and promotinghalal products and the halal services industry. We have a Malaysian Halal Standard that meets the requirements of the global Muslim community, and which also measures up to international health and safety standards such as C.O.D.E.X and H.A.C.C.P. The Malaysian Halal certification is already well received by O.I.C members.

The provision of halal products and services is a rapidly expanding business globally, with tremendous growth potential in Western Asia and among minority Muslim populations in largely non-Muslim countries. I wish to invite the Arab business community and representatives to collaborate with Malaysia to take advantage of this burgeoning market.

Distinguished guests,

Malaysia regards the Arab countries as our strategic economic partners. I am delighted to recall that last year, my Minister, the Honourable Dato’ Sri Mustapa Mohamed, visited the United Arab Emirates, Oman, Qatar and Saudi Arabia. We also received a number of high-level visits from the Western Asia region, including the visit by the Prime Minister of Qatar in December 2011 and various Ministerial visits from other Arab countries.

This frequent exchange of visits between our two sides is a testimony of the friendly relations and strong economic ties between Malaysia and the Arab world.

Allow me to conclude by reminding the business community that it cannot rely solely onGovernment initiatives alone to get going.Business Councils and Chambers of Commerce should assume a facilitative role and aggressively promote business to business exchanges. Itherefore commend the Arab Malaysia Chamber of Commerce for gaining recognition from the Arab League.

Finally, I’d like to thank the organisers of this forum and everyone for your presence here. I wish you every success.

Thank you.