25/10/2011 (Sun Daily) - The Federation of Malaysian Manufacturers (FMM), which is organising trade missions to Argentina, Brazil and Iran next month, has urged Malaysians to explore the untapped markets in South America and the Middle East.

The trade mission to Argentina and Brazil is from Nov 9 to 17 and to Iran from Nov 7 to 13, FMM said in a statement today.

FMM said it has teamed up with the Singapore Business Federation for the South American mission to visit Buenos Aires and Sao Paulo to explore opportunities in franchising and marketing of pharmaceutical products, cosmetics, telecommunication, electronic components, agriculture equipment, oil and gas services equipment, aviation equipment and services, power generation as well as safety and security equipment.

Brazil and Argentina serve as the gateway to the Mercusor market which includes Paraguay, Uruguay and Venezuela. These countries are four times the size of Europe.

Malaysia exported RM2.7 billion worth of goods to Brazil in 2010 and imported RM3.9 billion. The country also exported RM619 million worth of goods to Argentina and imported RM3.3 billion worth of goods last year.

On the trip to Tehran and Kerman in Iran, FMM said it is organised jointly with the Iranian Embassy in Kuala Lumpur in collaboration with the Tehran and Kerman Chambers of Commerce and Industry.

It said there are vast opportunities for Malaysian companies in Kerman, which is known for its pistachio, date, walnut, herbal pharmaceuticals, coal, copper, greenhouse products, automotive industry and tourism.

Malaysia's imports from Iran amounted to RM1.28 billion while total exports came to RM2.7 billion in 2010. The major imports were petroleum, natural gas, aluminium and chemicals while exports were palm oil, natural rubber, rubber products, fibreboard and vegetable oil.