| Think Franchise, Entrepreneurs Eyeing China Told |
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KUCHING, July 19 (Bernama) -- Entrepreneurs eyeing newly emerging economies like China should consider venturing into the franchising business by promoting Malaysian products and services, according to the Malaysia External Trade Development Corporation (Matrade).
"Think franchise as China is still new in such a market and brand your products and services according to international standards," Matrade's international network and promotion director Dzulkifli Mahmud told members of the Dewan Usahawan Industri Desa Malaysia Sarawak at a briefing on forthcoming China Asean Expo (Caexpo) 2007 here Thursday.
Malaysia, which listed China as its fourth largest trading partner last year, will be one of the Asean countries participating at the expo, the largest international event for economic and trading cooperation within the China-Asean Trade Area, to be held in Nanning, China, from Oct 20 to 23.
Dzulkifli said a lot of people perceived the China market as a threat but local businessmen should view the huge potential of its 1,304 million population through a long-term trade partnership, including as investment locations for joint ventures between Malaysian and Chinese companies.
"Target merely a small fraction of the China market for a start," he said, adding that China's gross domestic product (GDP) was US$2,684.7 billion, with its GDP growth rising to 10.7 percent last year from 9.1 percent in 2002.
Being Malaysia's fourth largest export destination and third largest import source in 2006, China was currently viewed as source of foreign direct investments (FDIs) as well as an important growing market for the export of goods and services, Dzulkifli said.
Last year, the country's bilateral trade with China grew by 18.6 percent to RM100.89 billion, with electronics, palm oil, chemical products and crude rubber as the main exports while machinery appliances and parts as well as electrical products and electronics were the main imports.
China's consul-general in Kuching, Xie Fugen, said four pavilions for commodity trade, investment cooperation, agricultural applicable technology and cities of charm would be set up at Caexpo 2007.
He said the highlight would be China-Asean Port Development and Cooperation Development besides onsite business talks to target potential partners, and conferences and forums on specific sectors for business leaders to illustrate their market analysis,
The programme also provided for cultural exchange events, including the Nanning International Art Festival and the China-Asean Golf Masters Invitational, he added.
As a platform for trade, investment and tourism cooperation, co-sponsored by 11 countries, Xie said the previous year's exposition saw 3,700 booths set up with 2,000 exhibitors and enterprises.
About 33,000 people visited Caexpo 2006, which concluded with US$1.27 billion worth of trade, he said.
-- BERNAMA
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