Ministry, Matrade To Organise Latin American Business Day 2017

KUALA LUMPUR, July 13 (Bernama) -- The Ministry of International Trade and Industry (MITI) and the Malaysia External Trade Development Corp (Matrade) will organise the first Latin American Business Day on Aug 1, 2017. In a statement Thursday, Matrade said, it aimed to strengthen trade and investment between Malaysia and Latin America, and the event was expected to attract around 500 participants. “The event, which would be officiated by MITI Minister, Mustapa Mohamed, is held in collaboration with Latin American embassies, namely Argentina, Brazil, Chile, Colombia, Cuba, Ecuador, Mexico, Peru, Uruguay and Venezuela,” it said. Matrade said it would feature seminars on the Latin American region and sectoral breakout sessions to highlight Malaysia's strength in areas such as aerospace, motor vehicle, electrical and electronics, pharmaceuticals and medical devices. “The global economic slowdown does not appear to have a negative impact on Malaysia’s trade with Latin America, as the country’s trade, particularly exports, with the region continues to record healthy growth,” it said. Malaysia’s total exports to Latin America grew by 10.2 per cent in 2016, and increased 25.4 per cent between January and May this year, it said. “Mexico is currently the country’s largest export partner in Latin America, with Malaysian exports to Mexico amounting to US$1.83 billion (RM7.85 billion) in 2016, and US$969.92 million (RM4.16 billion) from January to May 2017. (US$1 = RM4.28) “Last year, Malaysia had a positive trade balance of RM6.3 billion with Mexico,” it said. Moving forward, Matrade said, it would focus on areas where Malaysian companies could make a difference, including infrastructural projects which are opening up in Latin America. -- BERNAMA