A memorandum of understanding to this effect was signed on Saturday by representatives of both organisations.
The program and operation of the trading house were launched by Minister Dato’ Sri Ismail Sabri bin Yaakob, Minister of Domestic Trade, Co-operatives and Consumerism Malaysia, in the presence of EV Narayan, Managing Director, Diamond International Consolidators LLC, representatives of the Malaysian government, Bumiputra Manufacturers and Services Industry Association of Malaysia.
Diamond International Consolidators LLC is a partner of Diamond Consolidators (M) Sdn Bhd, which specialises in the import and distribution of Malaysian products into the UAE and other Gulf countries. It will conduct its trading business — with a focus on the FMCG industry — from the centrally-located Jebel Ali Free Zone and will use an extensive networking system to help give a strong competitive edge to its clients.
“The trading ties between Malaysia and the UAE have existed for several years. The value of bilateral trade between the two countries is currently approximately $6 billion, and there is strong potential for enhancing this figure. The launch of Taste of Malaysia Program and Malaysia Trading House will provide an impetus for this trade and will facilitate the exposure of some of our most popular brands to UAE and Gulf markets,”Ismail Sabri bin Yaakob said.