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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

24/11/2004

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

Bernama

CATEGORY

HEADLINE

Ahmad Husni Leads Trade Mission To Brazil, Peru
KUALA LUMPUR, Nov 23 (Bernama) -- Deputy Minister of International Tradeand Industry Datuk Ahmad Husni Mohamad Hanadzlah will be leading a tradeand investment promotion mission to Peru and Brazil starting thisWednesday, Nov 24 till Dec 4.

Talking to reporters at the Parliament lobby Tuesday, Ahmad Husni saidthat he would be also delivering the keynote address at the businessseminars to held in both countries during the visit.

The seminar entitled, "Business Opportunities Malaysia-Peru" would be heldin Lima on Nov 25 with about 250 members of the country's businesscommunity expected to attend. A seminar on "Business OpportunitiesMalaysia-Brazil" meanwhile would be held in Rio de Janeiro the followingMonday with 180 business members expected to participate.

Ahmad Husni said the aim of the trade mission was to inform the businesscommunities in Peru and Brazil of the myriad of investment and tradeopportunities available in Malaysia. They also expect to update them onMalaysia's current economic situation, while attracting investments fromthe business sector of Lima and Rio de Janeiro.

The mission also aims to promote the export of Malaysian products andservices to the two Latin American countries while establishingcooperation and closer bilateral links with them, he said.

"Total trade and investment with both the south American countries isstill small at only about 0.6 percent of Malaysia's total trade.

"There is a huge potential for Malaysia to enter the markets of the twocountries and the trade mission will provide Malaysian companies toestablish business network and partnerships with businesses in Lima andRio de Janeiro," he said.

Ahmad Husni said that during his visit, he would be also meeting up withgovernment representatives from both the countries. Business discussionsbetween the Malaysian delegates and business partners from the twocountries are also expected to be held.

The Malaysian delegation would comprise members from the private sector aswell as officers from the ministry, the Malaysian Industrial DevelopmentAuthority and Malaysia External Trade Development Corporation.

On Malaysia's trade with the two countries, he said Brazil was Malaysia'ssecond most important trade partner in Latin America last year.

Total trade between Malaysia and Brazil amounted to RM1.6 billion withexports coming to RM738 million and imports RM874 million.

Malaysia's main exports to Brazil were electrical and electronic (E&E)products, rubber, palm oil, chemicals and chemical products as well asmotorcycles while imports consisted of iron and steel products, metals,processed food, vegetable oils and machinery.

Peru is Malaysia's eighth largest trading partner in South America with atotal trade of RM106.4 million.

Exports to the country totalled RM84.9 million and these included rubberproducts, chemical and chemical products as well as palm oil.

Malaysia meanwhile imported metals, chemicals and chemical products,processed food, fertilisers, minerals and electrical and electronicproducts.

"This mission would give the business community in Peru and Brazil toexplore new sectors of investment in Malaysia such as in E&E, rubberproducts, palm oil and automotive spare parts.

"The services sectors on focus meanwhile would be buildings, petroleum andpetroleum products, telecommunications as well as information andcommunications technology," he added.

-- BERNAMA