KUALA LUMPUR: Bilateral trade between Malaysia and the Organisation of Islamic Cooperation (OIC) countries is expected to rise by 19% by the end of this year and by 25% next year, said International Trade and Industry (Miti) Minister Datuk Seri Mustapa Mohamed.

“Today, OIC countries’ share of global merchandise trade is still low. We are still trading with other countries (non-Islamic nations).

“Because of this, Malaysia has successfully signed a bilateral free trade agreement (FTA) with Turkey and Pakistan as a catalyst to boost bilateral trade between the Muslim nations,” he said.

He said Muslim nations had much to offer to the world, as they always had, from knowledge and resources to culture and products.

“And now, the Muslim world also has big opportunity in the halal economy and in trade and investment in halal goods and services.

“This opportunity should not be missed by OIC nations as many non-Islamic nations are already seeing the profit in this industry...

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KUALA LUMPUR, Oct 21 (Bernama) — The cement industry is expected to see reasonable growth in the next two to three years on the support from the major government infrastructure development projects.

Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, said the construction sector recorded between five and six per cent growth for the past few years.

“Although demand for high-end residential units had softened, the government is continuously pushing to spur construction in the form of affordable housing, the Refinery and Petrochemical Integrated Development and Mass Rapid Transit projects, among others,” he told reporters at the 50th Anniversary of Cement and Concrete Association (C&CA) here Wednesday.

He said these projects were the major consumers of cement.

Mustapa said the prospects of the industry would continue to be good for cement and construction sector as a whole.

Meanwhile, C&CA Chairwoman, Datuk Yeoh Soo Keng, said the association hoped the...

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KUALA LUMPUR, Oct 22 (Bernama) –The Ministry of International Trade and Industry hopes the Budget 2016 will help boost economic growth and trade figures.

This is amid the uncertainty in the global market due to the fall in the oil prices and weakening of the ringgit, said its Minister Datuk Seri Mustapa Mohamed.

The budget will be tabled by Prime Minister Datuk Seri Najib Tun Razak in Parliament tomorrow.

Mustapa was also hopeful that more focus would be given to small and medium enterprises (SMEs) - the backbone of the country’s economy - in the budget with new plans and strategies to enhance exports.

Mustapa said this was also due to the competition the country is facing.

He told reporters this during a briefing and memorandum of understanding signing ceremony.

In an effort to encourage more Malaysian food manufacturers obtain the Hazard Analysis Critical Control Points (HACCP)certification, the Malaysia External Trade Development Corporation (Matrade) is collaborating...

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KUALA LUMPUR, Sept 26 (Bernama) — The Asia-Pacific Economic Cooperation (APEC) needs to build an ecosystem that supports enterprise creation and improves the environment for innovation, as well as facilitates financial inclusion for start-ups, Deputy Minister of International Trade and Industry Datuk Ahmad Maslan said.

He said Malaysia recognises the vital role of micro, small and medium enterprises (MSMEs) in bringing new ideas to the market and fostering innovation.

Ahmad highlighted Malaysia’s initiatives for modernisation and automation of MSMEs, including focusing on the Soft Loan Scheme for Automation & Modernisation (SLSAM).

SLSAM seeks to encourage MSMEs in Malaysia to embrace automation and modernisation of their businesses.

“We further applaud the Philippines for putting the MSMEs at the forefront of its priorities this year, and we fully support the ‘APEC Iloilo Initiative’ which complements the ‘Boracay Action Agenda’ in promoting conducive policy,...

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E-commerce is another avenue to grow businesses, and both Malaysian and Chinese SMEs are taking advantage of it.

THE 12th China-Asean Expo (Caexpo) in Nanning, Guangxi province concluded on Monday (Sept 21), after four days of trading and business matching.

A billboard near the venue advertised: “You are just one handshake away from the market of 1.9 billion people,” referring to the combined pop­u­lation of 1.3 billion from China and 620 million from 10 Asean cou­ntries.

The Malaysian pavilion was the busiest at the Caexpo.

Visitors thronged the hall for the food and beverages, health and wellness products, lifestyle products and other services offered by the exhibitors.

While goods changed hands and meetings between potential partners took place under the Jalur Gemilang hanging from the hall ceiling, small and medium enterprises (SMEs) were encouraged to give e-commerce a try.

International Trade and Industry Minister II Datuk Seri Ong Ka Chuan, who opened the...

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KUALA LUMPUR: Perbadanan Pembangunan Perdagangan Luar Malaysia (Matrade) menyasarkan untuk meningkat eksport barangan pertanian ke Turki tahun ini, diperkukuh oleh permintaan yang semakin meningkat ke atas buah-buahan tropika di negara itu.

Pesuruhjaya Perdagangan Matrade di Istanbul Idzham Abd Hamid berkata buah-buahan tropika seperti nanas, belimbing dan buah naga, mendapat permintaan tinggi di Turki.

Istanbul kini mengimport sebagaian besar buah-buahan tropika dari Belanda.

“Kita patut merebut peluang untuk mengeksport (lebih banyak) buah-buahan tropika kita ke negara itu,” katanya kepada pemberita di uar seminar Perjanjian Perdagangan Bebas (FTA) Malaysia-Turki, di sini, Rabu.

Eksport utama Malaysia ke Turki bagi tempoh Januari hingga Julai 2015 terdiri daripada barangan pertanian, dengan dagangan bagi segmen itu bernilai  RM386 juta, diikuti barangan pembuatan (RM1.2 bilion) dan barangan perlombongan  (RM3.3 juta).

Seminar bertema ‘Memanfaatkan FTA...

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NANNING, 20 Sept (Bernama) — Selepas China, Program Groom Big yang dikendalikan atas usaha sama Kementerian Perdagangan Antarabangsa dan Industri (MITI), MATRADE dan SIRIM, bakal memberi peluang kepada pengusaha Bumiputera untuk mengembangkan sayap mereka ke pasaran Timur Tengah dan Amerika Syarikat. Pengarah Pembangunan Perniagaan Bumiputera MITI Bahria Mohd Tamil berkata buat masa ini, sektor yang diberi fokus ialah produk berasaskan makanan halal. “Buat masa ini, memang kita mahu fokus pada makanan halal dahulu. Baru-baru ini, majlis ekspo kebangsaan memutuskan supaya produk halal diperkenalkan bagi meningkatkan eksport kita dalam usaha menangani situasi ekonomi semasa,” kata Bahria kepada media Malaysia di Ekspo China-ASEAN (CAEXPO) 2015. Beliau turut berharap dapat menambah penyertaan syarikat Bumiputera di bawah program ini ke CAEXPO tahun depan jika sambutan tahun ini menggalakkan. “Setakat hari pertama, sejumlah RM15,000 transaksi jualan tunai berjaya dikumpul, dan... Read More

KUALA LUMPUR, Sept 22 (Bernama) — Halal Ingredients Asia 2015, touted as Asia’s first event platform for halal food and personal care ingredients industry, opened its doors on Monday.

The three-day event represents the region’s best gathering and market place for halal ingredient professionals and industry players in providing thought leadership to further accelerate and enhance the development of the industry.

Halal Development Corp (HDC) Chief Executive Officer, Datuk Seri Jamil Bidin, said the event would focus on several components to give a whole new perspective and opportunities via a conference, exhibition and business-to-business (B2B) networking.

“It will also enhance opportunities for trade and investment as well as for local halal ingredient players to be exposed to international buyers,” he told the media on the sidelines of the event opened by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi here.

Jamil said the manufacturers, distributors and...

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Executive Director Roy Michael said that with over 600 million people and a combined gross domestic product (GDP) of 2.4 trillion ringgit ($600 billion) in 2013, ASEAN is the seventh largest market.

“Should the trend continues, it has the potential to become the fourth largest market globally by 2050,” he added.

He told Bernama ASEAN recorded over $1.2 trillion in total merchandise exports, making it one of the most open economic regions in the world.

“Significant progress had been made in integrating the economies of the 10-member states under the ASEAN Economic Community (AEC) blueprint which is expected to be a reality by year-end,” he said.

Michael was speaking after hosting the ASEAN-US Trade Winds Forum at the Malaysian embassy here on Wednesday. It was attended by American policy and industry leaders.

The half-day forum is a quarterly event hosted on rotation among ASEAN embassies here to increase understanding between American and ASEAN small and medium...

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KUALA LUMPUR, Aug 18: The success of small and medium enterprises (SMEs) is crucial for ASEAN to be truly integrated, says Deputy Minister of International Trade and Industry Datuk Lee Chee Leong.

Lee said resilient SMEs should start to have a global mind-set.

“They should explore opportunities from liberalisation under the ASEAN Economic Community and expand their trade and investments,” he said at the launch of I-Score credit risk management tool.

The I-Score is co-developed by Rating Agency Malaysia Credit Info Sdn Bhd (RAMCI) with global information services company, Experian plc.

The tool, designed for financial institutions, business corporations and consumers, provides a comprehensive credit report ranking consumers, business partners and potential investors for credit risk.

Lee said SMEs could now use the tool to assess the strategies for their businesses if they intended to expand them.

“This will help address the challenges faced by SMEs to obtain...

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