Chennai is to play host to an international trade fair to be organised during the first week of October by the Malaysian External Trade Development Corporation (MATRADE). This is the fifth Chennai International Trade Fair showcasing general products from this country.
Considered by many as an awakening ‘tiger’, Malaysia is constantly upgrading its infrastructure to support its trading, manufacturing and service-related activities.
The Multimedia Super Corridor or MSC Malaysia has been developed to encourage investments in the Information and Communication Technology (ICT)-related sectors and outsourcing activities.
Malaysia offers a variety of quality products ranging from electrical and electronic products to textiles and apparel, furniture and wood products. It is also a leading exporter of palm oil, rubber-based products, chemicals and petrochemical products as well as processed food.
This year, MATRADE has organised many trade promotion programmes in India, including the Indian Rubber Expo in Chennai during January.
A trade and investment mission and Halal Marketing Mission to India are also on the cards.
Malaysia’s trade with India is on an upward path and the country is setting much in store by the growing bilateral ties and is on the look out for investment opportunities in a host of sectors.
The Malaysia External Trade Development Corporation paints a rosy picture, showcasing the country as a haven of opportunities especially in emerging areas like knowledge process outsourcing and software technology.
In 2006, Malaysia’s trade with India expanded by 23.7 per cent to reach RM (Ringitt Malaysia) 23.67 billion from RM 19.1 billion the previous year. Malaysia’s exports in 2006 grew by 25.5 per cent to reach RM 18.8 billion from RM 15 billion. During the year, imports also grew by 17.3 per cent to reach RM 4.88 billion. Trade balance was favourable to Malaysia and valued at RM 13.9 billion. For the period January-June 2007, exports to India increased by 10.5 per cent to reach RM 8.9 billion compared with the corresponding period in 2006.
For the period of January-June 2007, imports from India grew by 17.3 per cent to reach RM 4.88 billion compared with the corresponding period in 2006.
