KUALA LUMPUR, Aug 13 (Bernama) -- The global economic downturn has further strengthened the importance of reinforcing trade and business relationships with the non-traditional partners such as Central Asian countries.
Malaysia External Trade Development Corp (Matrade) chief executive officer, Datuk Noharuddin Nordin, said previously, it was purely developed countries but over the last decade or so the corporation has managed to penetrate new and emerging markets."Although the share is relatively small, the trend is growing among the Malaysian business community.
"The emerging markets have become more relevant as traditional markets like the US, Europe and Japan are facing economic difficulties," he told Bernama on the sidelines of the seminar on "Business Opportunities in Uzbekistan" here Thursday.
Noharuddin said Uzbekistan has experienced tremendous growth although in terms of absolute value it was still small."It is a double land-locked country. You can't talk about direct export to this country, so, look at other modes and leverage on the central location of Uzbekistan vis-a-vis other countries in the region," he said.
He said Uzbekistan's gross domestic product grew by 8.2 percent in the first half of 2009 and for 2008 it was nine percent."We are encouraging Malaysian companies to look at the possibilities of investing in the country as it is rich in minerals and agriculture products," he said.
Bilateral trade between Malaysia and Central Asia region has recorded encouraging growth.Over the past five years, it rose by about four-fold to US$125.52 million (US$1=RM3.49) in 2008.Malaysia recorded more than five-fold increase in exports to the region to US$121.58 million last year.
In 2008, total trade with Uzbekistan represented 36.2 percent of Malaysia's total trade with the region, valued at US$45.48 million.Malaysia's exports, valued at US$43.07 million in 2008, consisted of palm and vegetable oils, motor vehicle parts and electric and electronic parts and components.--BERNAMA
Malaysia's Trade Performance To Be Positive Year EndBy: Ramjit-->
KUALA LUMPUR, Aug 25 (Bernama) --
KUALA LUMPUR, Aug 25 (Bernama) --
Malaysia's trade performance is expected to seen an upward trend end of this year in line with the positive indications of production from several multinational organisations.
International Trade and Industry Minister, Datuk Mustapa Mohamad said the ministry had received reports from Japanese companies of an increase in their production for the first six months of this year compared with last year.
"In the last two, three months there have been an increase in exports and in June the rise was about five percent from May.
In June, the figure was the highest recorded for the year," he said."The rise in petroleum price also contributed to the increase in trade performance," he told reporters after distributing packages of bubur lambuk to the ministry's staff here on Tuesday.
A rise in the price of crude palm oil and the stable rubber prices also contributed to the better performance.
Mustapa said electrical and electronic products are expected to be the major contributors to Malaysia's exports end of the year.
Other leading exports this year include crude and processed petroleum, natural gas, crude palm oil and rubber.Malaysia recorded a trade surplus of RM9.12 billion in June this year, making it the 140th consecutive month of trade surplus since 1997.
Total trade in June this year rose 7.0 per cent to RM81.09 bilion
.The country's exports rose 5.1 per cent to RM45.01 billion in June compared with May which recorded RM42.92 billion.
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