KUALA LUMPUR: Malaysia has generated potential sales of RM29.1 million and RM840 million in investments realised from its recent trade and investment mission to Latin America.
The mission was led by the Ministry of International Trade and Industry (MITI) Minister Datuk Darell Leiking, accompanied by Malaysia Automotive, Robotics & IoT Institute (MARii) chief executive officer Datuk Madani Sahari and senior officials from MITI, Malaysia External Trade Development Corp (MATRADE) and Malaysian Investment Development Authority (MIDA).
The trade and investment mission stared in Santiago, Chile on May 20, 2019, Buenos Aires, Argentina on May 21, 2019, as well as Brasilia and Sao Paulo, Brazil from May 22-24, 2019. The last mission to Brazil was in 2007 and to Chile in 2016.
MITI said 10 Malaysian delegates from seven companies also joined the mission representing ICT and Internet of Things (IoT), system integration, design and process consultancy, electrical product, machinery, agro food, education, and other services sectors.
Throughout the mission, Leiking and the delegation promoted Malaysia as a regional hub and the spring board into Asean market including the tremendous benefits that would arise from Regional Comprehensive Economic Partnership (RCEP).
MITI said the on-going RCEP negotiations are expected to be concluded by end of 2019. Apart from the traditional sectors like retail, furniture, palm oil and electrical and electronics, Malaysia also offered to partner and share expertise with Chile, Argentina and Brazil in Industry 4.0, robotics, IoT, automotive and aerospace spare parts and components sectors as well as in the halal industries.
Leiking and the official delegation also reconnected with the respective governments’ top officials and agreed to strengthen bilateral trade and economic relationships through structured platforms like trade agreements, investment cooperation agreement and to explore the possibility of a Malaysia-Mercosur Free Trade Agreement.
MITI said fruitful and ground-breaking discussions were also held with business chambers and associations as well as companies.
In conjunction with the mission to Brazil, a seminar on “Business Opportunities in Malaysia as Gateway to Asean” was also organised in Sao Paulo on May 23, 2019.
The seminar attracted 157 participants representing the manufacturing and services sectors. A total of 56 business meetings were held between seven Malaysian companies and 42 Brazilian companies.
The seminar highlighted the trade and investment opportunities as well as prospects in business collaboration in Malaysia.
The seminar also witnessed the launch of the Brazil-Malaysia Business Council and exchange of business-to-business Memorandum of Understanding in the ICT sector.
In line with Prime Minister Tun Dr Mahathir Mohamad’s aspiration, MITI said its agencies will continue to attract more foreign direct investment and increase exports to strengthen our economy.
The Ministry also looks forward to the rejuvenation of the South-South Cooperation including with the Latin American countries in the areas of trade and investment. Malaysian companies are encouraged to explore their businesses in Latin America.
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