Malaysia Put-Up A Big Show At The India-ASEAN Business Fair

Malaysia Put-Up A Big Show During
The India-ASEAN Business Fair And Business Conclave
New Delhi, India

New Delhi, 2 March 2011 - Malaysia, the Country Coordinator and Co-Chair of the ASEAN-India Free Trade Agreement, made a remarkable presence during the inaugural India-ASEAN Business Fair and Business Conclave when Y.B. Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry delivered the Special Address on behalf of all the ASEAN Economic Ministers at the Inauguration and again at the Business Session on 2 March 2011. The 5-day Fair (2-6 March 2011) which is being held in New Delhi, India is being participated by more than 350 Exhibitors and Delegations from 11 countries (India and 10 ASEAN countries).

“It is an honour for me to be speaking on behalf of my ASEAN colleagues who decided to give me this task when we met in Vientiane over the weekend. This business fair was one of the main items in our retreat agenda. I am here representing 600 million people in the second most populous country in the world” said Minister Mustapa Mohamed.

Products from a total of 22 sectors are being showcased during the week with visitors comprising policy makers, academicians, business leaders, investors, importers, and exporters. About 270 companies from ASEAN are participating in the Fair of which 51 are Malaysian with 63 booths, showcasing sectors such as construction and related sectors, automotive, oil and gas, business services, property, electrical and electronic products, chemicals and plastics. MATRADE organised close to 300 pre-arranged business meetings creating export joint-venture opportunities.

“The ASEAN India FTA which entered into force on 1 January 2010 had a significant boost on Malaysia’s exports to India. Total trade between Malaysia and India in 2010 was US$8.98 billion, an increase of 27.1% from 2009. Exports rebounded by 25.7% while imports increased marginally by 1.4%. Electrical and electronic products were the largest export producst accounting for 23% share of total exports to India followed by petroleum products and palm oil in that year” said Minister Mustapa Mohamed. “India’s investments into ASEAN are also on the rise”, he added. In 2008, investments totalled US$591 million and increased to US$970 million in 2009.

Minister Mustapa also held one-to-one business meetings with potential Indian investors during the Fair. “There cannot be any better opportunity than this for networking and business engagements” said Minister Mustapa Mohamed.

In the past, Malaysia was seen merely as a source of primary commodities but today the market dynamics has shifted to include a healthy mix of manufactured products, services and commodities.

The ASEAN India Business Council also held its Second Meeting in conjunction with the Fair.

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