TAKE MALAYSIA-AFRICA TRADE TO NEXT LEVEL, SAYS DPM

By D. Arul Rajoo

PUTRAJAYA, June 19 (Bernama) -- Malaysian and African entrepreneurs must
leave no stone unturned in exploring each other's potential to the fullest as
the current trade and investment level remains largely untapped, Deputy Prime
Minister Muhyiddin Yassin said Friday.

Saying that geographical distance was no longer a hindrance between them, he
urged companies from both sides to step up the ante in creating new and
profitable market opportunities.

The move would also help build sustainable economic prosperity by
synergising Malaysia-Africa business partnerships and grow their economic cake
together, he said when opening the Malaysia-Africa Business Forum (MABF) at the
Putrajaya International Convention Centre here.

The MABF, a value added feature of the three-day 9th Langkawi International
Dialogue which begins Sunday, has a strong African representation.

Muhyiddin lamented that Malaysia's trade with Africa totalled only US$7.8
billion last year, something that could be increased with more partnerships.

"Contrast this with the US$12 billion trade Malaysia had with Germany last
year, a country one per cent the size of Africa. These figures speak for
themselves. As such I urge you to be proactive," said Muhyiddin.

Also present at the forum was former Prime Minister Dr Mahathir Mohamad,
Uganda Vice-President Edward Sekandi and International Trade and Industry
Minister Mustapa Mohamad.

Muhyiddin called on African delegates to identify opportunities in their
home countries and match them with Malaysian partners, meet with government
agencies such as Malaysia External Trade Development Corporatio (MATRADE) and
Malaysian Investment Development Authority (MIDA) on trading and investing in
Malaysia, and explore marketing and technical collaborations with their
Malaysian counterparts.

He said they could scour for potential link-ups in Malaysia's Economic
Transformation Programme which offers tremendous opportunities for the private
sector, including foreign investors, citing the 131 Entry Point Projects (EPPs)
worth US$145 billion and 60 business opportunities worth US$117 billion under
the programme.

"It encapsulates various industries which have greater potential to
contribute significantly to the growth of our economy, including electrical &
electronics, education, tourism, healthcare and education.

"As foreign investors, we invite you to be part of this exciting growth, and
tap the vast business opportunities available either on your own or in
partnership with Malaysians," he said.

"With the various initiatives and programmes mentioned earlier, the
Malaysian government has been playing its role as the facilitator. It is now for
you as entrepreneurs to play your role as the executor," he added.

The inaugural MABF, themed "Exploring New Dimensions", is an important event
for Malaysia, said Muhyiddin.

He expressed confidence that it could serve as a springboard to generate
fresh business ideas and build new business partnerships between the private
sectors of Malaysia and Africa.

Muhyiddin said Malaysia and Africa were in many ways "natural partners" as
they were blessed with natural resources, share a common business language and
have a relatively young population.

"It is thus only natural that we work together to build on the opportunities
and potential available," he said.

-- BERNAMA