PUTRAJAYA, Oct 6 — Canada is set to strengthen cooperation with Malaysia in the field of security as well as trade and investment,  said Canadian Prime Minister Stephen Harper.

The prime minister said he understood the potential for security cooperation during his visit to the Malaysian Maritime Enforcement Agency’s headquarters yesterday.

“We also witnessed the signing of commercial contract by OSI Maritime System Ltd with Malaysian Navy today,” he said at a joint media conference with Malaysian Prime Minister Datuk Seri Najib Razak after their bilateral talks here today.

He also noted that on economic cooperation, bilateral trade and investment was growing well.

“There is tremendous upside potential in both areas,” he added.

Harper also pointed out that Malaysian companies were extremely well in Canada and likewisae Canadian firms in Malaysia.

Touching on Petronas’s C$36 billion (RM111.2 billion) liquefied natural gas project in Canada, he said the Petronas hefty investment had given a positive indication that the oil giant was looking for further investments with the Canadian government.

“We are really excited about the possibility and we also had talks on the energy sector,” he added.

Both leaders also witnessed the signing of a Memorandum of Understanding  on the Declaration of Intent to Sign a New Agreement for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income between Malaysia and Canada. — Bernama