MATRADE URGES MANUFACTURERS TO VENTURE INTO EXPANDING ARGENTINIAN MARKET

KUALA LUMPUR, July 28 (Bernama) -- Malaysia External Trade Development
Corporation (MATRADE) today urged local manufacturers and exporters to venture
into Argentina's rapidly expanding consumer market.

In a statement, the organisation said statistics from Argentina's National
Institute of Statistics and Censuses (INDEC) as of May have shown that shopping
centres in the country recorded sales of RM3.62 billion (US$1.21 billion), 18.9
per cent higher than the corresponding period in 2010.

"Since Argentinians' purchasing powers are strong, Malaysian companies can
promote their products to leading retailers there," said Niqman Rafaee Mohd
Sahar, MATRADE's Trade Commissioner for Santiago.

Consumer products most in demand were electronic ones such as personal
computers, media players, liquid crystal display (LCD) and light emitting diode
(LED) monitors and smartphones.

"Public spending in Argentina is increasing by about 30 per cent a year,
with transportation subsidies, salary readjustments, social programmes and
pension increase thus encouraging higher consumption among Argentinians," said
Niqman.

In addition to its flourishing consumer demand, the Argentinean government
has also moved toward promoting the development of new and high
telecommunication as well as information communication technology (ICT)
services, which includes the laying of a 35,000 kilometres fiber optic network.
--BERNAMA