05/09/2012 (Bernama) - Malaysia and Egypt aim to further strengthen trade ties in palm oil, construction, electrical and electronics, services and manufacturing sectors through a three-day visit by Egypt's senior presidential adviser, Hassan Malek.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said bilateral trade between Malaysia and Egypt was important to increase trade value after the post-revolution in the Middle East nation.

"Malaysia and Egypt recorded US$1.5 billion (RM4.65 billion) in bilateral trade last year, with palm oil accounting for 70 per cent of the total trade," he told reporters at a dinner hosted by his ministry in honour of Hassan Malek's visit.

"This is the first visit by Egypt's new government since the country's revolution and we hope trade relations remain strong and stable in the years ahead," Mustapa said.

He said senior Egyptian officials are expected to meet Prime Minister Datuk Seri Najib Tun Razak and a number of Malaysian ministers to discuss potential trade expansions between Malaysia and Egypt.

"They seem to be interested by the development model in Asian countries such as in Malaysia and China to enhance growth in their country," he added.