KUALA LUMPUR, May 31 – Bilateral trade between Malaysia and Africa is expected to hit US$15 billion over the next three years from US$8.5 billion recorded last year.
Namibian High Commissioner to Malaysia Gebhard Ben Kandanga said he was basing the projection as Malaysia and Namibia enjoyed cordial relations in the economic, trade, education and political fields.
“Africa’s imports from Malaysia are mainly palm oil, rubber, electronics and component parts, while Malaysia buys fish and minerals from us,“ he told Bernama on the sidelines of the Matrade Business Exhibition and Networking reception.
Kandanga expects more Malaysian companies to set up businesses in Africa, particularly in construction and oil and gas sectors.
“Malaysian companies have very high level of expertise in building infrastructures and construction,” he said.
Kandanga said there were more than 20 Malaysian companies operating in Africa, among them are Bumi Armada Bhd, Sime Darby Bhd, Irish Corporation, Marry Brown and Lim Kok Wing University.
In order to promote foreign direct investments, he said, African countries have created investment-friendly environment and have liberalised their legal framework which entitled investors to a range of tax and non-tax incentives.
Reinforcing the importance of the Malaysia-Africa trade partnership, Tanzania will be hosting the Global 2013 International Smart Partnership Dialogue from June 28 to July 1 at Dar es Salaam, the country’s capital and largest city and an important economic hub in the region.
International Trade and Industry Ministry Secretary-General Datuk Dr Rebecca Fatima Sta Maria said the dialogue will focus on enchancing economic and business relations between Malaysia and Africa.
She said Malaysia will be represented by both public and private sector officials at the dialogue. She said the Malaysia Trade Development Corporation (Matrade) will lead a business mission comprising 24 companies and four agencies to Tanzania to promote a wide range of products, services and technologies.
Rebecca said some 40 companies from Africa will be attending the dialogue and to promote their products and services.
She said there will be pre-arranged business meetings for Malaysian companies with African importers and potential business partners.
– BERNAMA
