Businesses in Malaysia are looking at the export markets to boost sales and earnings. International Trade and Industry Minister of Malaysia, Datuk Seri Mustapa Mohamed said the global economic uncertainties have pushed local companies to seek partnerships and new markets outside the country. The minister, who wil
Businesses in Malaysia are looking at the export markets to boost sales and earnings.
International Trade and Industry Minister of Malaysia, Datuk Seri Mustapa Mohamed said the global economic uncertainties have pushed local companies to seek partnerships and new markets outside the country.
The minister, who will be leading a Malaysian trade delegation to India, said the local business community can benefit from closer relations with India, especially during the current economic climate.
“India has a strong small and medium business (SMB) sector and Malaysian SMBs taking part in the trade and investment mission to India will have the opportunity to enhance their capabilities,”
he said.
The 4-day trip, which begins on Monday, will see the SMB-based trade and investment mission visiting Bangalore, which is dubbed the Silicon Valley of India, and Chennai, the biggest
industrial and commercial centre in South India.
Mustapa and the delegates will meet with major Indian companies as well as take part in networking and business-matching sessions.
Data from the ministry shows that India is Malaysia's 11th largest trading partner and 7th largest export destination.
Meanwhile, Malaysia is India's 3rd largest trading partner, export destination and source of imports in ASEAN.
With increasing trade and investment from both nations, the target set by Putrajaya and New Delhi to achieve a total bilateral trade value of $20 billion next year is within reach.
The trade and investment mission will be seeking to explore India's domestic market and open up business and investment opportunities in 2nd-tier Indian cities such as Pune, Bangalore, and Chennai.