ID :
152909
Thu, 12/09/2010 - 17:09
Auther :
Shortlink :
https://oananews.org//node/152909
The shortlink copeid
UPCOMING IABF OFFERS MALAYSIANS 'UNIQUE BUSINESS OPPORTUNITIES' IN INDIA
By Manik Mehta
MUMBAI, Dec 9 (Bernama) -- The booming Indian economy is inherent with huge business potential for Malaysian companies and they could tap some "unique business opportunities" in this market of roughly 1.2 billion people.
To facilitate this, Malaysian Trade Commissioner in Mumbai Noraslan Hadi
Abdul Kadir said Malaysia would take about 1,000 square feet -- the largest
amongst all the Asean countries -- of display space at the India-Asean Business
Fair (IABF) that will be held from March 2 to 6, 2011 at New Delhi's exhibition
ground Pragati Maidan.
"This fair is the first of its kind and comes after the signing of a free
trade agreement (FTA) between India and Asean. The FTA, which went into effect
on Jan 1, 2010 will provide a strong impetus to trade and business between the
two sides," he told Bernama in an interview here.
IABF is being organised by India's Commerce and Industry Ministry, together
with the Federation of Indian Chambers of Commerce and Industry. It will involve
participation by India and all Asean member countries.
"We plan to bring some 80 Malaysian companies to participate in the fair,
and will present our industries such as electronics and electrical, furniture,
oil and gas, and construction and professional services such as engineering,"
Noraslan Hadi said.
India's Commerce and Industry Ministry is inviting major importers to IABF
which will be flanked by a cultural and food festival, and Minister Anand
Sharma has personally extended an invitation to his Asean counterparts,
including Malaysian International Trade and Industry Minister Mustapa Mohamed
who is expected to come for the IABF's inauguration.
Noraslan Hadi who had his work cut out for him since he arrived in July 2009
as Malaysia's first-ever trade commissioner in Mumbai, is also planning to set
up a booth at another event for medical equipment and technology called the
Medical Fair India from March 25 to 26, 2011 in Mumbai.
He will also be involved in organising the visits of two business
delegations from Malaysia.
The first is a logistics delegation visiting Chennai and Mumbai from May 1
to 6, 2011 while the second will be an automotive spare-parts delegation in
November. Dates for the second visit are being finalised.
Asked if it was realistic to achieve the target of US$50 billion in two-way
trade by the year 2015 -- this goal was set by Malaysian Prime Minister Najib
Tun Razak during his visit to India this year, Noraslan Hadi replied:
"We are working hand to achieve this goal."
Although Asean's joint FTA with India will drive growth in trade and
business, he expected the growth momentum in Indo-Malaysian economic relations
to intensify when India signs a separate exclusive FTA with Malaysia.
The Indo-Malaysian FTA is being readied for signature next year.
Two-way trade during the first nine months of 2010 amounted to RM21.1
billion (US$1=RM3.14), up from RM18 billion in the previous corresponding
period.
Though the Indian market's sheer size is mind-boggling, it is not easy to
penetrate it because it is considered to be still regulated and governed by a
maze of complex trade rules.
But Noraslan Hadi urged exporters not to despair. "Despite the initial
hurdles, India's market is very lucrative. You have to be patient and understand
its idiosyncrasies," he said.
"India offers too many opportunities.
"Take the furniture business. India, of course, has its own furniture
business but there is still good demand for furniture. Malaysian companies may
consider setting up a joint venture with Indian small and medium-sized
enterprises for furniture manufacturing in India.
"Besides furniture, there is also demand for home appliances, parts and
components, food processing, etc. Infrastructure projects offer opportunities
for Malaysia's construction companies," he said.
The Malaysian trade commissioner would like to encourage Malaysian
businesspeople to use his office facilities when visiting Mumbai.
He is organising a reception to inform Malaysian and Indian businesses about
"my existence in Mumbai, and to offer them my help in whatever way I can to
promote exports to this country".
This approach, he said, was also in keeping with the idea of Minister Datuk
Seri Mustapa Mohamed.
-- BERNAMA
MUMBAI, Dec 9 (Bernama) -- The booming Indian economy is inherent with huge business potential for Malaysian companies and they could tap some "unique business opportunities" in this market of roughly 1.2 billion people.
To facilitate this, Malaysian Trade Commissioner in Mumbai Noraslan Hadi
Abdul Kadir said Malaysia would take about 1,000 square feet -- the largest
amongst all the Asean countries -- of display space at the India-Asean Business
Fair (IABF) that will be held from March 2 to 6, 2011 at New Delhi's exhibition
ground Pragati Maidan.
"This fair is the first of its kind and comes after the signing of a free
trade agreement (FTA) between India and Asean. The FTA, which went into effect
on Jan 1, 2010 will provide a strong impetus to trade and business between the
two sides," he told Bernama in an interview here.
IABF is being organised by India's Commerce and Industry Ministry, together
with the Federation of Indian Chambers of Commerce and Industry. It will involve
participation by India and all Asean member countries.
"We plan to bring some 80 Malaysian companies to participate in the fair,
and will present our industries such as electronics and electrical, furniture,
oil and gas, and construction and professional services such as engineering,"
Noraslan Hadi said.
India's Commerce and Industry Ministry is inviting major importers to IABF
which will be flanked by a cultural and food festival, and Minister Anand
Sharma has personally extended an invitation to his Asean counterparts,
including Malaysian International Trade and Industry Minister Mustapa Mohamed
who is expected to come for the IABF's inauguration.
Noraslan Hadi who had his work cut out for him since he arrived in July 2009
as Malaysia's first-ever trade commissioner in Mumbai, is also planning to set
up a booth at another event for medical equipment and technology called the
Medical Fair India from March 25 to 26, 2011 in Mumbai.
He will also be involved in organising the visits of two business
delegations from Malaysia.
The first is a logistics delegation visiting Chennai and Mumbai from May 1
to 6, 2011 while the second will be an automotive spare-parts delegation in
November. Dates for the second visit are being finalised.
Asked if it was realistic to achieve the target of US$50 billion in two-way
trade by the year 2015 -- this goal was set by Malaysian Prime Minister Najib
Tun Razak during his visit to India this year, Noraslan Hadi replied:
"We are working hand to achieve this goal."
Although Asean's joint FTA with India will drive growth in trade and
business, he expected the growth momentum in Indo-Malaysian economic relations
to intensify when India signs a separate exclusive FTA with Malaysia.
The Indo-Malaysian FTA is being readied for signature next year.
Two-way trade during the first nine months of 2010 amounted to RM21.1
billion (US$1=RM3.14), up from RM18 billion in the previous corresponding
period.
Though the Indian market's sheer size is mind-boggling, it is not easy to
penetrate it because it is considered to be still regulated and governed by a
maze of complex trade rules.
But Noraslan Hadi urged exporters not to despair. "Despite the initial
hurdles, India's market is very lucrative. You have to be patient and understand
its idiosyncrasies," he said.
"India offers too many opportunities.
"Take the furniture business. India, of course, has its own furniture
business but there is still good demand for furniture. Malaysian companies may
consider setting up a joint venture with Indian small and medium-sized
enterprises for furniture manufacturing in India.
"Besides furniture, there is also demand for home appliances, parts and
components, food processing, etc. Infrastructure projects offer opportunities
for Malaysia's construction companies," he said.
The Malaysian trade commissioner would like to encourage Malaysian
businesspeople to use his office facilities when visiting Mumbai.
He is organising a reception to inform Malaysian and Indian businesses about
"my existence in Mumbai, and to offer them my help in whatever way I can to
promote exports to this country".
This approach, he said, was also in keeping with the idea of Minister Datuk
Seri Mustapa Mohamed.
-- BERNAMA
