The agreement was signed during the two-day Saudi-Malaysia Forum (SMF), held in Riyadh last week to explore new avenues of cooperation between the two countries.

Nearly 100 engineering and consultancy firms from Saudi Arabia and Malaysia took part in the forum, the second such event, which was mainly organised by the SCE. The first forum, which was held in Kuala Lumpur on July 9-10 2007, was organised jointly by SCE and BEM in association with the Federation of Engineering Institutions of Islamic Countries (FEIIC).

Last week’s forum focused on opportunities and expertise in such areas as energy, water, infrastructure, transportation, ICT and education. It discussed new opportunities, transfer of technology and cooperation in carrying out large-scale engineering projects.

It was also agreed to have an exchange programme for newly graduated Saudi and Malaysian engineers so as to expose to different work environments.

SMF has already become an important platform for Saudi and Malaysian engineering business networking.

It may be noted that cooperation between Malaysia and Saudi Arabia is on upswing.

Kenanga Investment Bank Bhd (KIB) of Malaysia is looking at key markets outside the country in its bid to create a niche in the corporate banking business. 

Kenanga has planned partnerships in Saudi Arabia, Dubai, and South Korea.  According to Tunku Afwida Malek, CEO of the bank, Kenanga is actively pursuing businesses in Saudi Arabia, Dubai and South Korea.