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 Business

M'sia expects trade with Latin American countries to increase this year

17th April, 2013

KUALA LUMPUR: The Malaysia External Trade Development Corp (Matrade) expects the country’s trade with Latin American countries to increase by between five and ten per cent this year.

Its senior director, Exporters Development Division, Datuk Dzulkifli Mahmud, said the total trade with Latin America countries last year amounted to RM31.2 billion.

“In the first two months of this year, total trade with Latin American countries rose by 17.6 per cent to RM5.34 billion from RM4.54 billion recorded in the corresponding months in 2012.

“The Latin American market, which is worth approximately US$4 trillion and expected to grow by over five per cent annually for the next five years, is a market to watch,” he said.

Dzulkifli said this at a media briefing after opening a seminar on “Doing Business in Chile, Mexico and Brazil” here yesterday.

He said the World Economic Outlook, released by the International Monetary Fund recently, indicated that Chile was forecast to enjoy growth of 4.4 per cent and Mexico and Brazil 3.5 per cent respectively.

Dzulkifli said last year, Malaysia’s exports to Mexico and Brazil amounted RM4.57 billion and RM3.34 billion respectively.

“With factors such as sustainable economic growth, a modern, stable and friendly legal framework, a powerful network of free trade agreement, strategic locations and vast natural resources, Chile, Mexico and Brazil offered outstanding business and investment opportunities,” he said.

Malaysian exports to Latin America included latex gloves, furniture (office and household), cocoa and cocoa-based products, wood and wood-based products and electrical and electronic products, he said.

Dzulkifli said Matrade always encouraged manufacturers, exporters as well as those who wanted to do business in Latin America.

Matrade is represented worldwide at 40 locations in major commercial cities. In Latin America, Matrade has branches in Brazil, Chile, Mexico and Argentina.

   
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