KUALA LUMPUR, Dec 1 (Bernama) -- Brazilian businesses can collaborate withMalaysian companies for projects in either Brazil or Malaysia in areaslike the construction of roads, airports, seaports, housing and townships,said the Deputy Minister of Ministry of International Trade and Industry(MITI), Datuk Ahmad Husni Hanadzlah.
In a keynote address at the "Malaysia-Brazil Business Opportunity" seminarheld in the Brazilian capital of Rio de Janeiro recently, he said theywere also told that they could tap into Malaysia's networking and linkageswith other Asean economies. The text of his speech was received hereWednesday.
He said Asean, with a population of more than half a billion people and acombined gross domestic product (GDP) of US$750 billion (US$1=RM3.80), "isa free trade area which offers vast opportunities for Brazilian companieswishing to venture into South East Asia."
Ahmad Husni is currently leading a trade and investment mission to Brazil,the second stop in a trip to Latin America that includes Peru andArgentina.
The mission, which ends on Dec 7, is co-organised by MITI, the MalaysiaExternal Trade Development Corporation (MATRADE) and the MalaysianIndustrial Development Authority (MIDA).
A total of 176 participants attended the seminar in Rio De Janiero and waslater followed by 67 one-on-one business meetings.
The mission had updated the Brazilian business community on the currenteconomic and trade development in Malaysia and also explored opportunitiesfor business collaboration between Malaysia and Brazil.
Ahmad Husni said there were serious trade enquiries from the Brazilians tosource for palm oil and palm oil-related products, rubber andrubber-related products, information and communication technology (ICT)products, telecommunication-related products and processed food.
Bilateral trade between Malaysia and Brazil has grown over the last 10years. From 1994 to 2003, trade between the two countries increased by26.1 percent to US$424.3 million in 2003 from US$336.6 million in 1994.
MITI's recent trade figures indicated that trade with Brazil continued toexpand. From January to September 2004, bilateral trade between Malaysiaand Brazil amounted to US$503 million, an increase of 61.8 percentcompared with the same period last year of US$311 million.
During this period, Malaysian exports to Brazil increased by 70.1 percentand imports from Brazil increased by 54.9 percent compared with thecorresponding period in 2003.