ID :
158551
Mon, 01/31/2011 - 11:48
Auther :
Shortlink :
https://oananews.org//node/158551
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OVER 50 MALAYSIAN COMPANIES TO SHOWCASE AT INDIA-ASEAN TRADE FAIR
By P.Vijian
NEW DELHI, Jan 31 (Bernama) -- Over 50 Malaysian companies, largely small-and-medium enterprenuers (SME), will participate in the India-Asean Business Fair in March, signalling the growing Malaysian interest in the vibrant Indian economy.
Malaysia is tipped to be the largest exhibitor at the international
exhibition and conference, where 10 Asean economies are also expected to take part between March 2 and March 6 in New Delhi.
"Our objective is to showcase Malaysian companies as India is opening up. At least 70 per cent of Malaysian SMEs will be participating at the fair.
"This is the first time Malaysia is coming in a big way to India,
encompassing goods and services.
India can now look at Malaysia for a range of services and products," Abu Bakar Koyakutty, Director of Trade Promotion & Services Division at the Malaysia External Trade Development Corporation (Matrade) told Bernama here Monday.
The fair, a prominent event in the Asean calendar, is aimed at enhancing trade ties between the Southeast Asian grouping and India, which is Asean's dialogue partner.
An increasing number of Malaysian companies are showing interest in India, from infrastructure to service-oriented entities, as India, Asia's third largest economy, continues to woo Asean nations under its "Look East Policy".
"Perception of India among Malaysian investors is very good, especially after the visits of the two prime ministers (Najib Razak and Manmohan Singh).
"It has created confidence and awareness in both markets. It is also time for Malaysian companies to go beyond the infrastructure sector, like automobile and services," he added.
Malaysia remains a leading trading partner of India, from the 10-member bloc, with annual bilateral trade hovering close to US$10 billion (RM30 billion).
Asean-India two-way trade reached US$45 billion (RM135 billion) in
2008-2009.
India signed the Free Trade Agreement with Asean in August 2009 in Bangkok, which took effect in January 2010, where both parties agreed to slash import tariffs on nearly 80 per cent of traded products between 2013 and 2016.
The trade pact had opened up a huge market covering about 1.7 billion people in total, with a combined Gross Domestic Product of a staggering US$2.8 trillion (RM8.4 trillion).
The five-day event will be held at Pragati Maidan in New Delhi, where 350 exhibitors are expected to participate.
NEW DELHI, Jan 31 (Bernama) -- Over 50 Malaysian companies, largely small-and-medium enterprenuers (SME), will participate in the India-Asean Business Fair in March, signalling the growing Malaysian interest in the vibrant Indian economy.
Malaysia is tipped to be the largest exhibitor at the international
exhibition and conference, where 10 Asean economies are also expected to take part between March 2 and March 6 in New Delhi.
"Our objective is to showcase Malaysian companies as India is opening up. At least 70 per cent of Malaysian SMEs will be participating at the fair.
"This is the first time Malaysia is coming in a big way to India,
encompassing goods and services.
India can now look at Malaysia for a range of services and products," Abu Bakar Koyakutty, Director of Trade Promotion & Services Division at the Malaysia External Trade Development Corporation (Matrade) told Bernama here Monday.
The fair, a prominent event in the Asean calendar, is aimed at enhancing trade ties between the Southeast Asian grouping and India, which is Asean's dialogue partner.
An increasing number of Malaysian companies are showing interest in India, from infrastructure to service-oriented entities, as India, Asia's third largest economy, continues to woo Asean nations under its "Look East Policy".
"Perception of India among Malaysian investors is very good, especially after the visits of the two prime ministers (Najib Razak and Manmohan Singh).
"It has created confidence and awareness in both markets. It is also time for Malaysian companies to go beyond the infrastructure sector, like automobile and services," he added.
Malaysia remains a leading trading partner of India, from the 10-member bloc, with annual bilateral trade hovering close to US$10 billion (RM30 billion).
Asean-India two-way trade reached US$45 billion (RM135 billion) in
2008-2009.
India signed the Free Trade Agreement with Asean in August 2009 in Bangkok, which took effect in January 2010, where both parties agreed to slash import tariffs on nearly 80 per cent of traded products between 2013 and 2016.
The trade pact had opened up a huge market covering about 1.7 billion people in total, with a combined Gross Domestic Product of a staggering US$2.8 trillion (RM8.4 trillion).
The five-day event will be held at Pragati Maidan in New Delhi, where 350 exhibitors are expected to participate.
