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Malaysia finds Gujarat 'vibrant' for trade ties
Mar 21, 2014
Malaysian diplomats today described Gujarat as a 'vibrant' state that is witnessing development.
To find out opportunities for Malaysian companies and increase trade with Gujarat, Consul General in India, Mohamed Hatimi Abas and Vice Consul Omar Salleh today visited a trade exhibition at Gujarat University Convention centre.
They were on their first visit to the city and inaugurated the fair.
"We are here to encourage Malaysian corporates to increase trade with Gujarat based firms. Gujarat is a vibrant state and we see lots of development in this city. The Sabarmati river-front is very impressive" said Vice Consul Omar.
He is also the Assistant Trade Commissioner of Malaysia External Trade Development Corporation (MATRADE).
Hoping to bring down the trade deficit between India and Malaysia, Abas stressed on the need for collaboration in various sectors.
"We are exploring opportunities for our firms in various sectors here, like construction, oil exploration, logistics and education. We earlier met industry leaders of Vadodara and also sent invitation to Ahmedabad based businessmen to find out opportunities" said Abas.
As per the figures shared by them, trade between India and Malaysia accounted for USD 13.38 billion in 2013. However, Malaysia's export to India declined significantly by 14 per cent while import saw a growth of 36.4 per cent during the period.
"This means that we are buying more from India and selling less. Thus, we are eyeing tier-II cities like Ahmedabad to find out opportunities for our firms," said Omar.
India, Malaysia trade set to get a big boost; tie-ups with SMEs on cards
Feb 14, 2014
Mustapa Mohamed wants to give a big boost to Indo-Malaysian trade.
Given that the total trade between the two nations was only $12.3 billion in the January to November 2013 period, against Malaysia-China trade of $95 billion, the Minister of International Trade and Industry for Malaysia, sees a huge opportunity to grow the relationship.
“Malaysia and India have very strong cultural and commercial links. Both are familiar with each others’ countries, there is good connectivity with air links. India is a country where we would like to step up our relations on all fronts,” said Mohamed in an interview to Business Line.
In India recently, Mohamed led a delegation of small and medium enterprises for seminars in Bangalore and Chennai.
In Bangalore, he participated in the CII partnership summit and later travelled to Chennai with 17 officials and 30 Malaysian companies. “It’s important to have face-to-face communications; you get more out of it. I can see that Indians are anxious to globalise their business; our markets are not the main markets for them, but there are a lot of opportunities,” he elaborates.
On this trip, Mohamed points out that the Malaysian delegation was not talking only to the big companies, but also to many small ones as the focus is on SMEs in the IT and automotive industries. “A lot of the big companies have already invested in Malaysia, but we are looking at SMEs now,” said the Minister.
In Bangalore, the seminar attracted about 160 Indian companies, while in Chennai over 200 Indian companies participated in the seminar on business opportunities with Malaysia. The seminar in Chennai was jointly organised by CII and MaTrade, the Malaysia External Trade Development Corporation.
As of now, the bilateral trade is in Malaysia’s favour. Trade between the two countries has been on an upward trend – increasing more than four fold in the 2003-12 period. Malaysia’s main exports to India, Mohamed pointed out, were palm oil, electrical and electronic products, crude petroleum, chemicals and transport equipment. Indian exports to Malaysia are refined petro products, live animals and meat, agri-produce and cereal. Mohamed pointed out that some of the big Indian companies such as Reliance and TCS have invested in Malaysia; TCS is a fairly big employer in the ICT sector with 1,300 people, he said.
India, he said, has traditionally relied on investments from Japan, Korea, Europe and the US, but the last five years has seen a lot more investments by Malaysian companies as well. The Mumbai mono rail project, he pointed out, has been constructed by Malaysian company Scomi Engineering, along with L&T.
“Besides receiving investments from India, my main responsibility is to get Malaysian companies to invest here; long-term prospects are good here,” said Mohamed.
Malaysia turns to South Asian rice
Oct 17, 2011
Malaysia will source rice cargoes from India and Pakistan to meet its import needs after floods swamped farms and mills in Thailand, the world's largest exporter of the grain, the Star newspaper reported on Friday. It quoted Deputy Agriculture Minister Johari Baharum as saying that while Malaysia has a stockpile of close to one million tonnes of rice that can last more than five months, it was awaiting a consignment from Bangkok where water levels were still rising.
Import to meet shortage: Malaysia
Sep 28, 2011
The government may be forced to allow the import of chicken into the state if local chicken breeders do not increase their production to meet the current shortfall in demand, says Assistant Minister of Agriculture Datuk Mong Dagang. At present the state bans the import of dressed chicken and chicken parts to protect the local chicken farming industry. Mong said the decision to import chicken would be the option to stabilise the price in the local market. “Import of chicken would be an option if the local chicken breeders refuse to increase their production,” Mong told The Borneo Post here yesterday.
Malaysia - Beef imports up 11%
Sep 27, 2011
Malaysia's beef imports during 2010-11 increased 11 per cent on the previous year, to a six-year high of 117,797 tonnes swt, reports Meat and Livestock Australia (MLA). There was a rise in volumes from India, Australia, NZ and China which more than offset falls in imports from Brazil and Argentina due to restricted market access. MLA reports that Malaysia was the second largest market for Indian carabeef in 2010. Carabeef is mainly sold through traditional markets and utilised at low-end foodservice outlets.
Malaysia - Beef imports increase 11%
Aug 29, 2011
Indian carabeef in 2010. Carabeef is mainly sold through traditional markets and utilised at low-end foodservice outlets. Malaysia was also the eighth largest market for Australian and Chinese beef exports and ranked 12th for NZ beef in 2010. During the 12 months to June 2011, Malaysia's beef imports from India jumped 14%, to represent 83% of total beef imports. Volumes from Australia also surged 56% year-on-year, to account for 12% of total beef imports. Alongside India and Australia, NZ (3% market share) and China (2%) continued to supplement imported beef demand for Malaysia's foodservice sector.
Malaysia - New Halal abattoirs
Jul 26, 2011
State Islamic religious councils have been advised to set up their own abattoirs to ensure confidence among Muslims that meat and poultry slaughter processes were truly halal. Minister in the Prime Minister’s Department Major-General (Rtd) Datuk Seri Jamil Khir Baharom said the respective councils could achieve this by forming a subsidiary company or by cooperating with other companies.
Agri-products get protection under India-Malaysia FTA
Jul 04, 2011
Import of sensitive agri-products like palm oil, coffee, black tea and pepper from Malaysia will remain subject to high duty despite India operationalising free trade agreement (FTA) with the South East nation. The plantation items, mostly grown in South India, have been kept in the'Special Product' category under which import duties have been cut by a small margin and will remain high enough to protect domestic producers. The bilateral Comprehensive Economic Cooperation Agreement (CECA) covering trade in goods, services and investment has come into force from July 1.The sensitive agri-products will now attract duties ranging between 66 and 94% from 80-100%.
Malaysia-India FTA To Boost Bilateral Trade To RM46 Billion By 2015
Jun 30, 2011
Trade volume between Malaysia and India is expected to hit RM46 billion (US$15 billion) by 2015 with the implementation of a bilateral free trade agreement (FTA) which comes into effect on Friday. Under the Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA), the two countries will progressively reduce or eliminate tariffs on an agreed list of industrial and agricultural products between July 1, 2011 and Dec 31, 2019. In a statement today, the Ministry of International Trade and Industry (MITI) said Malaysian exporters would enjoy free duty market access for rubber products, chemical products and electrical equipment. Imports from India into Malaysia will enjoy zero or lower duties for live animals and meat, textile materials and manufactures of metal.
Malaysia: Produce more durians to meet China demand, farmers told
May 20, 2011
More farmers have been urged to plant durian trees to meet the high demand once the fruit is exported to China. Deputy Agriculture and Agro-based Industries Minister Chua Tee Yong said the prospect for the industry was very good as Malaysian durian was expected to be in high demand there compared with Thai durian. He said many durian farmers had pulled out of the industry in the past few years due to poor distribution channels and low demand.
Fall in domestic prices may boost garlic exports
Apr 05, 2011
Garlic exports are likely to increase further as prices come down in the domestic market, traders said.From being a net importer of garlic, India has turned into a big supplier of garlic in the global market due to a shortfall in the Chinese crop and good domestic production, traders said. Apart from its traditional market of Bangladesh, Indian garlic’s are now exported to Pakistan, Thailand and Malaysia.
Dairy prices expected to rise – Malaysia
Mar 29, 2011
The increases in dairy raw material prices may potentially drive up prices of dairy products if the high commodity bill continues.An analyst said there had been significant increases in raw material prices in the past six months and, based on the current outlook, he expected commodity prices to stay high this year.He said the high prices could potentially be passed on to consumers but did not give a threshold of commodity prices before milk prices would be increased.
Congregating The World's Halal Industry Players Under One Roof
Mar 21, 2011
MIHAS 2011 will be kicking off its 8th showcase from April 6 to 9 at Kuala Lumpur Convention Centre, Kuala Lumpur, Malaysia. Embracing the theme "Expanding your business horizon", MIHAS 2011 aims to reach out to the halal players in the international market. Over the past seven years, MIHAS has succeeded in creating extensive business opportunities and networking for various halal industry players worldwide. MIHAS has also been the focal point for global traders, entrepreneurs and manufacturers to promote and launch their halal products and services.
Malaysia checks for radiation in food
Mar 15, 2011
The Health Ministry will be monitoring food products imported from Japan to ensure it is free of radiation contamination.Minister Datuk Seri Liow Tiong Lai said the government would monitor food items such as fish and fish-based products, fruits and fruit-based products, cereal, beverages, canned food and meat.
Malaysia Wants Safe, Quality Food Imports From India – Liow
Mar 07, 2011
Malaysia, a large importer of food items from India, is initiating a new agreement with the Indian Government to monitor the quality and safety of imports coming from the sub-continent. The country imports about 80 per cent of beef (buffalo meat) from India and millions ringgit worth of spices, onions, fresh fruits and basmati rice. Health Minister Datuk Seri Liow Tiong Lai, who was on a day-long visit to India, said both governments would sign a memorandum of understanding (MoU) on Cooperation in the Field of Health and Medicine, which would also stress on food safety.
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