Matrade Chief Urges Malaysian Companies To Explore Emerging Markets
NEW DELHI, March 7 (Bernama) -- Malaysian companies,large or medium, are advised to test emerging markets rather than rely ontraditional economies to remain competitive.
In an interview with Bernama in Delhi recently, theMalaysia External Trade Development Corporation (Matrade) chairman Datuk MahSiew Keong, also urged Malaysian businessmen to exploit existing tradeagreements with foreign governments to expand overseas.
"The Malaysian market is too small at the moment. Matured markets aredifficult to penetrate but there is a lot of potential in new markets like theMiddle East (West Asia), Africa or India," he said.
China and India are billed as the largest regional emerging markets.Free TradeAgreements between Asean and China and India, came into force last year.
The E7 emerging economies of Brazil, China, India, Indonesia, Mexico, Russiaand Turkey, with a large population base, resource rich and high disposableincome, are also considered the new drivers of global economy.
By 2050, these markets are forecast to supersede some of the traditionaleconomic giants, and chart a new trade paradigm.
"Just don't look at traditional markets and try to establish a foothold inthese new markets.
"In 2011, there will be lot of emphasis on new, emerging markets.Matrade,is leading several missions to these markets to expose our small and medium enterprises,"Mah explained.
He was in Delhi to attend the inaugural India-Asean Business Fair, whichconcluded last Sunday.
A total of 51 Malaysian companies participated in a big way to explore newopportunities in the robust Indian market.
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