MALAYSIA KEEPS TRADE MOMENTUM WITH IRAN GOING

By Muin Abdul Majid

DUBAI, Oct 21 (Bernama) -- There is healthy demand for Malaysian products and
services in Iran which can also serve as a gateway for Malaysian companies to
enter the Iraqi market.

This was observed by Malaysia External Trade Development Corporation (Matrade)
which led the participation of 15 Malaysian companies at the Tehran
International Industrial Fair that was held in the Iranian capital earlier this
month.

The Malaysians chalked up immediate sales worth RM1.37 million as well as
RM179.4 million in potential sales during the show. (US$1=RM3.10)

"Demand from Iran is very good. The Iranians always consider Malaysia as a good
supplier, and products from Malaysia are considered to be of higher quality than
those produced by some other countries," Matrade's senior trade commissioner
Dzulkifli Mahmud told Bernama.

The Dubai-based trade official noted that being a Muslim country and a member of
the Organisation of the Islamic Conference (OIC) also worked in Malaysia's
favour in doing business with Iran.

Trade volume between Malaysia and Iran was in excess of US$1 billion in 2009.

Among Malaysian products and services highlighted at the Tehran exhibition were
building materials, motorcycles, food products, medical disposable items and
accessories, consultancy services, expertise in small-scale power plants and
trade financing services.

Invest Melaka, an entity under the southern Melaka state government, also joined
the Matrade mission with a view to looking for investment opportunities in Iran
and trying to bring Iranian investments to the Malaysian state.

Dzulkifli also met with representatives from chambers of commerce in the cities
of Tehran, Isfahan and Shiraz where discussions focused on how to forge closer
linkages with similar entities in Malaysia.

According to him, a hotelier in Shiraz was keen to have a Malaysian company
manage a five-star hotel in the city.

"They know that Malaysia has a lot of expertise and talent in this field. This
is an opportunity for a Malaysian hotel management company to expand its
business overseas," he said.

The trade official noted that trade between Iran and neighbouring Iraq was robust.

"Iran could serve as a gateway for Malaysian companies to enter Iraq through
business networks already forged between the two neighbouring countries," he
added.

Due to international sanctions imposed against Iran in relation to its nuclear
stand-off with the West, Dzulkifli said mechanisms had to be found to address
payment issues involving buyers and exporters.

"Nevertheless, we consider the Tehran exhibition as a good platform for
Malaysian companies to make further inroads in the Iranian market despite
international sanctions against that country," he said.

Dzulkifli also took the opportunity to invite Iranian companies and
businessmen to take part in or visit Intrade Malaysia 2010 general trade fair from
Nov 9 to 11 as well as the Malaysia International Halal Showcase (MIHAS), scheduled
for April 2011.
-- BERNAMA



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