Brazil To Send Trade Mission To Malaysia In October
KUALA LUMPUR, July 18 (Bernama) -- Brazil, which is Malaysia largesttrading partner in South America, plans to send a trade mission here thisOctober.
The trade mission was among several issues discussed by Deputy Minister ofInternational Trade and Industry (MITI), Datuk Kerk Choo Ting and BrazilInterim Minister of Development, Industry and Trade, Benjamin Siscu duringtheir meeting in Sao Paulo last Monday.
Also discussed were possible joint ventures between Brazilian andMalaysian companies in electrical and electronics projects in Malaysia andthe need for Brazilian businessmen to assess business opportunities inMalaysia, said MITI in a statement here Wednesday.
Another issue discussed was cooperation in energy development such asdeveloping alternative fuels for automobile by using mixture of gasolineand alcohol.
MITI said Kerk and Siscu also discussed Brazil's assessment of the presenteconomic problems in Argentina and global certification of Brazilianproducts for exports.
Kerk is currently heading a Malaysian trade and investment mission toBrazil and several other South American countries.
MITI said a seminar on "Business Opportunities in Malaysia" held lastMonday attracted 180 people from the Brazilian business community.
A total of 96 individual business meetings were also held between membersof the Malaysian trade mission and Brazilian businessmen.
At the individual business meetings, trade enquiries covered products suchas palm oil, orange juice, electrical and electronic products, computersoftware, petrochemical products, plastic products and medical products.
Brazil contributed 15.6 percent to Malaysia's total trade with SouthAmerica last year, which at YUS$460.7 million was 22.5 percent higher thanin 1999, Kerk said in his speech at the seminar.
Malaysia exports to Brazil amounted to US$317.2 million and imports wereat US$143.5 million, he said.
He said the trade between the two countries would be further boosted withthe US$207.5 million contract awarded to Industrial AerospaceInternational of Brazil to supply multiple Launch Rocket System to theMalaysian Armed Forces. The contract was signed last November.
He said although trade between Malaysia and Brazil has been expanding,there were still opportunities for further growth.
He pointed out that Malaysian companies had the ability to offer a widerange of high quality products at competitive prices.
The products included food products, automotive components, electrical andelectronic products, construction materals, wood and rubber-basedproducts, medical products, telecommunication equipment, machinery andplastic products and plastic in primary forms, he said.
Meanwhile, Malaysian companies could also seek more competitive sources ofraw materials, intermediate goods, machineries as well as consumer goodsfrom Brazil, thus offering export opportunities for Brazillian companies,he added.