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One Belt and Road Initiative growing stronger
Indonesia and Malaysia are among the founding members of ASEAN, a regional bloc established in 1967. The union is the world’s fifth-largest economy and home to some 670 million people.The two countries have been working to increase their trade engagement with Egypt in recent years. Indonesia recorded a $1.11 billion trade surplus with the North African nation last year, while Egypt is Malaysia’s third-largest trading partner in Africa in 2022, with a $1.08 billion trade value.
Officials from the Indonesian Embassy in Cairo and the Malaysia External Trade Development Cooperation, or MATRADE, held a meeting on Sunday in Cairo to discuss ways to boost cooperation between the Southeast Asian bloc and Egypt, the Indonesian Ministry of Trade said in a statement.