KUALA LUMPUR: Malaysia's trade with South-South countries totalled RM141.72 million January-April 2010, with Malaysia's exports amounting to RM81.97 million, according to the Malaysian Industrial Development Authority (MIDA).
MIDA deputy director-general Datuk Afifuddin Abdul Kadir said on Friday, July 9 trade and investment relations between Malaysia and South-South countries looked promising in the manufacturing and services sectors and should be encouraged.
Between January and April 2010, 37 out of the 244 projects approved in the manufacturing sector were from South-South countries with investments totalling RM2.27 billion.
Major approvals by country were from Singapore, US$559.96 million (RM1.8 billion), China, US$148.08 million (RM 473.87 million), Thailand US$4.23 million (RM13.54 million), the UAE, US$ 2.09 million (RM 6.68 million) and Pakistan US$1.96 million (RM6.28 million).
Malaysia continued to attract substantial inflows of foreign direct investment (FDI) into these sectors, with South-South countries comprising about 60% of total FDI between January and April 2010, which stood at RM 3.3 billion.
He was speaking at MIDA's familiarisation programme for 35 officials of investment promotion agencies from 17 South-South countries.
Afifuddin urged participants to tap into the country's regional trade links oil and gas industries.
"Malaysia has a strong and resilient economy that provides vast opportunities for participants in both parties to further expand their trade links.
"Malaysia, located in the heart of Asean, can be the base for foreign companies to trade and invest with other countries within the region," he said, citing Malaysia's preferential tariffs for all products originating from any of the Asean members as one major advantage for foreign investors.
Later, at a media briefing, Afifuddin said that four or five companies from South-South countries were looking to set up businesses in Malaysia by the year-end. He declined to name the companies.
He said Malaysia had to remain regionally competitive in attracting FDI by makingnitn easier to undertake business activities.
"Singapore and Thailand are looking for the same thing. We are fighting for more foreign investments. We have to create attractive packages to bring in more investors."
Historically, Malaysia's top trading partners have been Singapore, China, the US and Japan which comprised 46.7% of total exports and 48.7% of total imports in 2009.
Major traded goods being electrical electronics products, palm oil, chemicals and chemical products, crude petroleum and machinery.
MIDA deputy director-general Datuk Afifuddin Abdul Kadir said on Friday, July 9 trade and investment relations between Malaysia and South-South countries looked promising in the manufacturing and services sectors and should be encouraged.
Between January and April 2010, 37 out of the 244 projects approved in the manufacturing sector were from South-South countries with investments totalling RM2.27 billion.
Major approvals by country were from Singapore, US$559.96 million (RM1.8 billion), China, US$148.08 million (RM 473.87 million), Thailand US$4.23 million (RM13.54 million), the UAE, US$ 2.09 million (RM 6.68 million) and Pakistan US$1.96 million (RM6.28 million).
Malaysia continued to attract substantial inflows of foreign direct investment (FDI) into these sectors, with South-South countries comprising about 60% of total FDI between January and April 2010, which stood at RM 3.3 billion.
He was speaking at MIDA's familiarisation programme for 35 officials of investment promotion agencies from 17 South-South countries.
Afifuddin urged participants to tap into the country's regional trade links oil and gas industries.
"Malaysia has a strong and resilient economy that provides vast opportunities for participants in both parties to further expand their trade links.
"Malaysia, located in the heart of Asean, can be the base for foreign companies to trade and invest with other countries within the region," he said, citing Malaysia's preferential tariffs for all products originating from any of the Asean members as one major advantage for foreign investors.
Later, at a media briefing, Afifuddin said that four or five companies from South-South countries were looking to set up businesses in Malaysia by the year-end. He declined to name the companies.
He said Malaysia had to remain regionally competitive in attracting FDI by makingnitn easier to undertake business activities.
"Singapore and Thailand are looking for the same thing. We are fighting for more foreign investments. We have to create attractive packages to bring in more investors."
Historically, Malaysia's top trading partners have been Singapore, China, the US and Japan which comprised 46.7% of total exports and 48.7% of total imports in 2009.
Major traded goods being electrical electronics products, palm oil, chemicals and chemical products, crude petroleum and machinery.
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