MARKET DEVELOPMENT
Malaysian Firms Establish Gateway To Latin American Market
Malaysian Firms Establish Gateway To Latin American Market
15/11/2013 (Bernama) - Malaysian companies are targeting Chile as the gateway to the Latin American market due to its open economy, ease of doing business and reputation for strong financial institutions.
Last year, Malaysia's total trade with Chile totalled RM1.07 million. Malaysia is the largest exporter of medical gloves to Chile, the fifth largest exporter of furniture and a leading exporter of palm oil products.
In a statement, the Malaysia External Trade Development Corporation (Matrade) said Brazil is currently Malaysia's largest trading partner in Latin America with total trade amounting to RM8.9 billion in 2012.
"Malaysia is expected to maintain its position as the largest exporter of natural rubber gloves, catheters and latex thread to Brazil.
Matrade recently organised a Malaysia Services Exhibition, participated by 22 Malaysian companies in Sao Paolo, Brazil and 17 companies in Santiago, Chile.
The events, on Nov 4-5 in Sao Paolo and Nov 6-8 in Santiago, were to promote exports of Malaysian services and related products to Brazil and Chile.
They were also to explore opportunities for collaborations, smart partnerships and joint ventures with the business communities in Brazil and Chile and to familiarise Malaysian companies with the business environment in Brazil and Chile, it said.
A total of RM395.4 million in sales was generated throughout the exhibition with RM274.4 million in Sao Paulo, as a result of 137 business meetings arranged by Matrade.
"Electric control systems for monorail track, marine services for oil and gas and encryption solutions for data security offered by Malaysian companies were the main services sought after during the exhibition in Sao Paulo," it added.
Meanwhile, the exhibition in Santiago generated RM121 million in sales with 99 business meetings arranged.
Virtual network operating services, logistics services, automotive batteries and batik fashion designs recorded the highest sales contributions.
Matrade said other potential sectors for Malaysian companies to export to Latin America are construction services, infrastructure development, oil & gas, information and communications technology, logistics, building materials, medical devices, and automotive parts & components.
Last year, Malaysia's total trade with Chile totalled RM1.07 million. Malaysia is the largest exporter of medical gloves to Chile, the fifth largest exporter of furniture and a leading exporter of palm oil products.
In a statement, the Malaysia External Trade Development Corporation (Matrade) said Brazil is currently Malaysia's largest trading partner in Latin America with total trade amounting to RM8.9 billion in 2012.
"Malaysia is expected to maintain its position as the largest exporter of natural rubber gloves, catheters and latex thread to Brazil.
Matrade recently organised a Malaysia Services Exhibition, participated by 22 Malaysian companies in Sao Paolo, Brazil and 17 companies in Santiago, Chile.
The events, on Nov 4-5 in Sao Paolo and Nov 6-8 in Santiago, were to promote exports of Malaysian services and related products to Brazil and Chile.
They were also to explore opportunities for collaborations, smart partnerships and joint ventures with the business communities in Brazil and Chile and to familiarise Malaysian companies with the business environment in Brazil and Chile, it said.
A total of RM395.4 million in sales was generated throughout the exhibition with RM274.4 million in Sao Paulo, as a result of 137 business meetings arranged by Matrade.
"Electric control systems for monorail track, marine services for oil and gas and encryption solutions for data security offered by Malaysian companies were the main services sought after during the exhibition in Sao Paulo," it added.
Meanwhile, the exhibition in Santiago generated RM121 million in sales with 99 business meetings arranged.
Virtual network operating services, logistics services, automotive batteries and batik fashion designs recorded the highest sales contributions.
Matrade said other potential sectors for Malaysian companies to export to Latin America are construction services, infrastructure development, oil & gas, information and communications technology, logistics, building materials, medical devices, and automotive parts & components.