KUALA LUMPUR, Aug 9 (Bernama) -- With its increasing production and high trade volume of automotive parts and components and its well developed infrastructures and financial institutions, Malaysia could well become a trading hub for these merchandises, says International Trade and Industry Ministry Parliamentary Secretary Datin Paduka Dr Tan Yee Kew.
She said local trading companies can play an important role in achieving this by assisting small and medium manufacturers of automotive parts and components to market their products in the international market where they have established marketing networks.
They could also become strategic partners to foreign manufacturers, who have set up their Regional Distribution Centre in the country, for the distribution of their products within and outside the country, she said during the launch of the Malaysia Auto Parts and Accessories Expositions (MAPA) 2007 here, today.
Tan said sales of automotive components and parts amounted to RM5.6 billion in 2006 and the Malaysian Industrial Development Authority (MIDA) approved a total of 33 projects on transportation related vehicles parts and components production amounting to RM318.7 million.
"Export in 2006 increased by 4.5 percent to RM2.3 billion from RM2.2 billion in 2005. In terms of imports, there was a decline of 2.3 percent to RM4.3 billion in 2006," she added.
"To create Malaysia as a trading hub of automotive parts and components, Malaysia must project itself as a showroom of the latest products available in the world market. Today's international exhibition is an effort towards this end," she said.
The exhibition, organised by Asia World Expo Sdn Bhd, is being held at the Mid Valley Exhibition Centre from today until Sunday, with 85 exhibitors from nine countries including China, India and Europe. About 6,500 foreign buyers are expected at the exhibition.
Asia World Expo managing director Richard Lim said they expected to generate sales amounting to US$30 million during the four-day exhibition.
He also said that as the event was MAPA's comeback since it last organised the event more than 10 years ago, there were some problems initially in attracting foreign exhibitors to join the show.
"But we believe in the potential of Malaysia as a trading hub for these merchandise. If we are to achieve this in the next decade, we have to organize more shows like this. The comeback of MAPA would contribute towards this end," he added.
