Matrade: Malaysian Companies Looking At India For Long-Term Trade Ties
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NEW DELHI, March 1 (Bernama) — Malaysian companies are making a strong pitch at the India-Asean Business Fair (IABF), clearly registering their strong interest in the growing Indian market, which is forecast to become the world’s largest economy by 2050.
“Our companies are “gang ho” (enthusiastic) in the Indian market. They are ready to work with Indian partners. They are very positive.
“This is not a one of thing but they are looking at long-term business (ventures),” Dr Wong Lai Sum, Deputy Chief Executive Officer of the Malaysia External Trade Development Corporation told Bernama in Delhi Tuesday.
A total of 51 companies will showcase their products and services at the Malaysian pavilion between March 2 and March 6.
International Trade and Industry Minister Datuk Seri Mustapha Mohamad will attend the mega IABF and also participate in the regional business conclave Wednesday.
Malaysian players from the core sectors of automotive, oil and gas, construction and construction products, electronic, wind technology, food and beverage and business services are in Delhi to promote their respective interests.
“This is a good platform not only for exports and joint ventures in Malaysia and India but also for India to use Malaysian links to enter Asean and West Asian markets. It will be a win-win situation,” added Wong.
India-Asean bilateral trade, between 1997 and 2008, rose seven folds from US$5.9 billion (RM18.29 billion) to US$48 billion (RM148 billion) in 2009, making the region one of India’s largest trading partner.
Malaysia and Singapore are among the prominent trading partners from the 10-member Southeast Asian block.
The Indian economy is expected to grow at nine per cent this year.
– BERNAMA
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Filed Under: Business
