IPOH, Nov 6 (Bernama) -- Deputy Minister of International Trade andIndustry Datuk Husni Hanadzlah will lead a trade and investment mission toSouth America covering Peru, Argentina and Brazil from Nov 24 to Dec 10.
He said the potential for Malaysian products to penetrate South Americawas great especially palm oil, electrical and electronic products, rubberand timber-based products and machineries.
"We are focusing on these countries, instead as the government felt thatour traditional markets are getting more and more challenging," he toldreporters after giving out Hari Raya goodies to his Tambun parliamentaryconstituents, here Saturday.
Seminars on the awareness of Malaysian products and investmentopportunities in Malaysia will be held in Peru and Brazil, he said.
At the moment, Husni said the contribution from the three markets aresmall compared to Malaysia's trade with other major trading partners likeUnited States, Japan, Europe and China.
In 2002, Malaysia's total trade with Peru, Brazil and Argentina stood onlyat RM2.67 billion.
He said Malaysia offers great opportunity to foreign investors, especiallyfrom South America, as the country can be used as a hub to penetrate theAsean market under the Asean Free Trade Area (AFTA).
"We have 450 million consumers in Asean and another 1.6 billion when youtake into account Asean's free trade with China," Husni said.
He said South American businessmen could set up their regionalheadquarters in Malaysia and enjoy the various incentives offered,including low corporate tax, very good delivery system and within a week'sapproval for setting up of factories.