KUALA LUMPUR: Kosovo, the landlocked Balkan country, is seeking Malaysian investments across a wide-range of sectors including information and communication technology, renewable energy as well as manufacturing, visiting Kosovo President Dr Vjosa Osmani Sadriu said today.
Despite Kosovo’s small size, she said sweeteners to lure Malaysian investments included access to the lucrative consumer base in excess of 600 million people based on the country’s free trade agreements with the entire European continent.
“This means that investing in Kosovo offers the same opportunities as investing across Europe,” she said, alluding to Kosovo’s efforts to consolidate its economy through FDIs and build up its somewhat fragmented industrial and manufacturing sector.
“With the ease of doing business, Kosovo has the youngest population in Europe which is multilingual and tech-savvy, along with labour costs being much lower than in other European countries,” she told Bernama in an interview here today.
This coupled with numerous incentives for foreign direct investment offers significant potential for Malaysian businesses, said Osmani, who is on a four-day official visit to Malaysia.
During her visit, she met representatives from the National Chamber of Commerce and Industry of Malaysia (NCCIM) to discuss investment opportunities Kosovo offers to Malaysian businesses. Although no agreements were signed during the visit, discussions are ongoing and progress is being made, she said.
The Kosovian President said the first step would be to hold a joint economic forum with businesses from Kosovo and Malaysia to help identify key areas for a future trade agreement.
“Our teams are actively discussing potential areas of cooperation and I hope Prime Minister Datuk Seri Anwar Ibrahim will visit our country soon to help finalise these agreements,” she said.
She said she expects a direct flight between the Kosovian capital of Pristina and Kuala Lumpur in the future which would significantly ease communication and travel between the two countries, which established diplomatic ties in 2011.
Osmani arrived in Malaysia on Thursday, her first visit to the country since assuming office on April 4, 2021.
Malaysia officially recognised Kosovo on Oct 30, 2008, becoming one of the first Asian countries to do so, with formal diplomatic relations established on March 18, 2011.
“Even now, connections are quite good, mostly through Istanbul with other daily routes available as well. However, direct flights are always a more convenient way to enhance communication and travel,” she said.
She also highlighted the appeal of regional tourism packages that include Kosovo, Albania and Montenegro, which are gaining popularity among ASEAN tourists.
Osmani said Kosovo was looking to increase its exports globally, including to Malaysia, particularly in the ICT sector.
“Of course, Europe has been the main hub for our exports so far, but in the past couple of years, exports have quadrupled to the United States and several other countries.
“Our businesses are now looking for new markets where they can export their products, and I believe that once the joint economic forum takes place and businesses begin engaging with one another, they will be able to identify the specific needs in this part of the world,” she said.
Osmani said Kosovo is also seeking to expand exports to Malaysia, particularly in the food and energy sectors besides ICT.
“Our businesses are already exporting to Europe, the United States and Africa. We see Malaysia and the broader ASEAN region as important new markets,” she said.
Last year, trade between Malaysia and Kosovo amounted to RM28.55 million, with Malaysia’s exports valued at RM25.92 million and imports at RM2.63 million.
