MITI TO INTENSIFY TRADE PROMOTION EFFORTS IN 2010

By Wan Nor Azura Mior Abd Aziz

KUALA LUMPUR, Dec 31 (Bernama) -- The Ministry of International Trade and
Industry (MITI) and its agencies are set for an aggressive drive in 2010 to
promote trade and boost Malaysia's export growth in view of global competition
in the current economic scenario.

Their focus will be on fast-growing and emerging economies as the country
continues to put great effort into reducing its dependency on traditional
markets.

Malaysia External Trade Development Corporation (Matrade) chief executive
officer Noharuddin Nordin has named Brazil, Russia, India and China (BRIC) as
well as the Gulf Cooperation Council (GCC) region as fast growing economies.

The new and emerging markets, meanwhile, are Egypt, Ghana, Libya, Nigeria
and Uganda in Africa; Iran, Kazakhstan, Kyrgyz and Uzbekistan in Asia; and Chile
and Panama in the Americas.

For 2010, Matrade planned to carry out 168 trade promotion activities, of
which 58.9 per cent would be in developing countries while the balance in
developed countries, Noharuddin said.

For the traditional markets such as Australia, the European Union (EU),
Japan and the United States (US), diversification efforts would be made for
Malaysian exporters to tap into new market segments, he added.

This year, MITI and its agencies had intensified their efforts to penetrate
into the non-traditional markets.

Matrade had also unveiled the external promotion work programme in line with
the government's initiative to increase intra-Asean trade and reduce Malaysia's
dependency on traditional markets like the US and EU.

Noharuddin told Bernama that emphasis had been given to capitalise on the
growing economy in the non-traditional markets of West Asia, Eastern Europe and
Latin America.

Among key highlights of the 2009 work programme was promoting five business
sectors, namely building materials; food and agriculture; automotive parts and
components; medical and pharmaceutical; and electrical and electronic.

The target markets included the oil-rich GCC, and the goal was to secure
business opportunities, particularly in the construction industry and related
services.

Apart from leveraging on the Organisation of the Islamic Conference platform
to enhance trade with member countries, Malaysian exporters were encouraged to
seize benefits arising from Free Trade Agreements (FTAs) that had been concluded
either regionally or bilaterally, Noharuddin said.

In 2009, MITI and its agencies had planned a total of seven trade and
investment missions and 25 specific project missions.

International Trade and Industry Minister Mustapa Mohamed led most of the
trade and investment missions besides joining those headed by the prime minister
including to China, Singapore and Indonesia.

The Arab countries visited included Bahrain, Qatar, Egypt and Saudi Arabia
in January and October.

The trade mission to Europe from April 19 to 29 covered three major cities
namely Frankfurt in Germany, Milan in Italy and London, United Kingdom.

The mission to Europe, Noharuddin said, was timely, taking into account the
need to intensify marketing and promotional efforts by the private sector and
investment promotion by state governments.

Malaysia is an open economy with heavy reliance on international trade.

For this year's January-October period, total trade was valued at RM799.8
billion, a drop of 21.0 per cent from the same corresponding period of 2008.

Exports declined by 20.7 per cent to RM448.6 billion while total imports
contracted by 21.4 per cent to RM351.2 billion. (US$1=RM3.42)
-- BERNAMA