Thursday, May 23, 2013

Sabah conflict has 'no bearing' on Malaysia-Philippines trade ties, say traders

With a recent meeting between Malaysian traders and members of the Philippine Chamber of Commerce and Industry, Malaysia and the Philippines continue to develop investments with each other, despite recent occurrences that have strained political and diplomatic relations between the two countries.

"The growth in the Philippines is very strong and we see that it will continue to grow. The market size is also getting bigger, so we want some sort of investments from both countries," said Federation of Malaysian Manufacturers delegation head Adrian Yeo Eng Hui.

Relations between the two countries was tested when a group of followers of Sulu sultan Jamalul Kiram III sailed to Sabah in February and engaged Malaysian security forces in armed conflict.

This conflict, however, “has no bearing” on trade relations between the two companies because companies make their dealings in Kuala Lumpur, said Yeo.

The Malaysian traders represent several sectors, including accounting, special purpose vehicles, industrial instruments and equipment, sporting goods, theme park equipment, automotive parts, rubber, laboratory/medical equipment, and freight forwarding.

Malaysian firms currently operating in the Philippines include Berjaya Philippines, Inc. and Resorts World Manila's Genting Bhd.-GMA News

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