I was informed by MATRADE that there are more than 250 businessmen from Africa participating in the Incoming Buying Mission programme, organised in conjunction with INTRADE Malaysia.  They are seeking to establish business links with Malaysian and foreign companies. 

The countries in the African continent, endowed with rich natural resources, minerals, agricultural produce, are looking for partners to jointly develop their economic resources.  There are business opportunities in infrastructure development such as in the expansion of telecommunication networks, upgrading of ICT services and human resources development.   

In today’s highly competitive business environment, companies can achieve greater gains through collective efforts, rather than individually.  The business community should share knowledge, technical skills, expertise, resources and experiences, to jointly expand trade and business for the mutual benefit of all parties.

INTRADE Malaysia and the KL International Trade Forum, 2007, is Malaysia’s contribution towards this end.  These two events are aimed at providing a platform for the business communities from various countries, to discuss, identify and establish business partnerships.

I welcome the more than 800 businessmen that have accepted the invitation to be part of the incoming buying mission programme.  With these buyers coming from over 50 countries, covering ASEAN, Africa, East Asia, South Asia, West Asia, CIS, Europe as well as North and South America, I am confident the objective of forging business collaborations will be achieved.

What is important in these collaborations, is for all countries to benefit jointly and collectively from the expansion of global trade.  While the Government will provide the enabling environment for this, the business sector is and will be the catalyst to stimulate economic growth as the nation develops and progresses.

MALAYSIA YOUR BUSINESS PARTNER

Malaysia has built a strong trade and industrial structure over the last 50 years of its independence.  The well managed economic and development plans, pro-business policies, good infrastructure, conducive business environment and trained labour force, have over the years contributed to a well developed trading and industrial sector in the country.

Today, Malaysia is ranked among the top twenty (20) trading nations of the world, exporting a wide range of products and services.  Malaysia is a global player in the export of several products including rubber, palm oil,   electrical and electronics and furniture.  In the rubber industry, we are the world’s largest supplier of medical rubber gloves, catheters and latex thread and cord.  For the palm oil sector, Malaysia, as the largest producer and exporter, assumes an important role in fulfilling the growing global demand for oils and fat.  

In the electrical and electronics sector, we are a major exporter of semiconductors, automatic data processing machines and telecommunication equipment.  While in the furniture industry, over 90% of furniture produced is exported.  Malaysia, ranked among the top ten exporters of furniture in the world, exports a wide range of furniture, including office furniture, kitchen furniture, bedroom sets and furniture for garden and outdoor use. 

In the services sector, Malaysian companies have spread their wings overseas, undertaking projects in the  construction of roads, ports, airports, highways, bridges, houses, commercial buildings, power generation and telecommunication facilities, in countries of West Asia, Africa, ASEAN and South Asia.  Other areas where Malaysian companies have expertise and have exported these services include, oil & gas sector, education and healthcare.  

For the ICT sector, Malaysia has been ranked globally as the third most favoured location for outsourcing of business processes.  We are willing to share our expertise and experience with other countries.  Malaysian companies are ready to forge business collaborations with their foreign counterparts for mutual benefits.  

Ladies and Gentlemen,

Two major development plans that have been launched by Malaysia, namely, the Ninth Malaysia Plan and the Third Industrial Master Plan, have both outlined the thrusts of the country’s development over the next five to fifteen years.  Allow me to highlight, three of the major thrusts of these development plans. The first is to move the economy up the value chain. The second is to raise capacity for knowledge and innovation and the third is to strengthen institutional and implementation capacity.

In the implementation of these plans, Malaysia welcomes the expertise, investment and technology from the international business community in many areas. The participation of the international business community is needed to develop   the agriculture sector to be one of the major sources of economic growth, to invest in new growth sectors such as biotechnology and in Regional Economic Development projects.
 
Malaysia, as an open and trade-dependent economy, will continue to obtain benefits from the process of globalisation.  Malaysia’s engagement in bilateral, regional and multilateral cooperation will further deepen its integration with the world economy.  The business sector must take advantage of the benefits from these arrangements, to expand business beyond the country’s border.