PETALING JAYA: The Malaysia Indonesia Business Council (MIBC) has been relaunched, with Tan Sri Nazir Razak as its chairman.
The relaunch of the MIBC yesterday was witnessed by Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz and Indonesian ambassador to Malaysia, Hermono.
The MIBC’s new council includes representatives from Permodalan Nasional Bhd, Malayan Banking Bhd
, CIMB Group Holdings Bhd, Kuala Lumpur Kepong Bhd, AirAsia and TheLorry.com, as well as individual members.
The National Chamber of Commerce and Industry of Malaysia (NCCIM) serves as the secretariat to the MIBC.
The MIBC was originally set up in 2002 under a memorandum of understanding between Malaysia and Indonesia.
“The MIBC serves as a platform for the Malaysian private sector to address and resolve challenges related to economic cooperation between both countries.
“It is dedicated to fostering a positive business climate that supports existing businesses while attracting new economic opportunities between Malaysia and Indonesia,” said the MIBC in a statement yesterday.
In officiating the relaunch, Tengku Zafrul said the reactivation of the MIBC signified Malaysia’s commitment to strengthen its bilateral business relationship with Indonesia.
“Miti expects MIBC’s collaboration with the Indonesia Malaysia Business Council (IMBC) to feed into and support both nations’ policy efforts towards cultivating an environment that nurtures and enhances trade and investment flows, paving the way for both countries’ broad-based, sustainable socio-economic growth and prosperity.”
Speaking at the inaugural meeting of the council, Nazir thanked the Malaysian government for his appointment.
“Having had a lot of experience doing business in and with Indonesia, I am pleased to now have a platform to assist other Malaysians invest in, trade as well as partner with Indonesia.”
MIBC’s Indonesian counterpart is the IMBC chaired by Pak Eko Putro Sandjojo, former Minister of Villages, Development of Disadvantaged Regions and Transmigration of Indonesia.
“It is anticipated that the MIBC and IMBC will play an instrumental role in contributing towards sustainable and inclusive policies, fostering partnerships and unlocking the full potential of the bilateral business relationships between the two countries,” said the MIBC.
The NCCIM is a federation of five national trade organisations.
