BUSINESS

LEIKING TO LEAD TRADE, INVESTMENT MISSION TO JAPAN, SOUTH KOREA

14/10/2018 10:13 PM

KUALA LUMPUR, Oct 14 (Bernama) -- International Trade and Industry (MITI) Minister, Datuk Darell Leiking will be leading a trade and investment mission to Japan from Oct 14 to 17, and South Korea from Oct 18 to 21, 2018.

In a statement today, the ministry said the mission would comprise officers from MITI, Malaysian Investment Development Authority, Malaysia External Trade Development Corporation, State Governments such as Penang, Melaka and Terengganu, as well as 76 representatives from local companies.

“This mission is an important annual engagement for the government to continue enhancing bilateral economic and trade relations between Malaysia and Japan, as well as South Korea,” it said.

During the Mission, Leiking will meet with his counterpart in Tokyo and attend business seminars in Tokyo, Osaka and Seoul to promote business and investment opportunities in Malaysia.

The programme will also include one-to-one business meetings and business matching sessions with selected captains of industry, as well as, small and medium enterprises.

“The meetings and business matching sessions with Japanese and Korean companies will provide a great opportunity for Malaysia to learn about new industrial and technology developments, and explore further collaboration with both nations.

“This particularly, in high potential sectors such as automotive, artificial intelligence, robotics, aerospace, petrochemical, medical devices, renewable energy and the halal industry,” MITI added.

In 2017, Japan was Malaysia’s fourth largest overall global trading partner and second largest after China for East Asia region, while Malaysia was Japan’s 11th largest trading partner.

Total trade between both countries was RM139.2 billion (US$32.4 billion) in 2017, with exports to Japan totalling RM75.6 billion (US$17.6 billion) and imports at RM63.6 billion (US$14.8 billion).

Meanwhile, South Korea was Malaysia’s eight largest trading partner, 10th largest export destination and seventh largest source of imports in 2017.

Total trade with South Korea was recorded at RM67.7 billion (US$15.8 billion) in 2017, with total exports at RM28.6 billion (US$6.7 billion), while imports totalled RM39.1 billion (US$9.1 billion).

-- BERNAMA

 


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