ID :
21581
Sat, 09/27/2008 - 17:59
Auther :
Shortlink :
http://m.oananews.org//node/21581
The shortlink copeid
M'SIA LIKELY TO BE A KEY PARTNER FOR INDIAN ENGINEERING INDUSTRY IN FUTURE By Mahanum Abdul Aziz
KUALA LUMPUR, Sept 26 (Bernama) -- Malaysia is likely to emerge as a key partner for India in the engineering industry in future, said the chairman of the Engineering Export Promotion Council India (EEPC), Rakesh Shah.
Malaysia is currently the largest importer of Indian engineering products,
accounting for about 19 percent of Asean's total imports of about US$3.93
billion.
Shah said the three-day Indian Engineering Exhibition 2008 (INDEE 2008),
which began here on Sept 25, would provide more investment opportunities for the
business communities of both countries.
"The exhibition helps the Indian engineering industry showcase its
strengths and capabilities while establishing ties between both countries," he
told Bernama in an interview on the sidelines of the INDEE 2008 Friday.
INDEE 2008 is the largest engineering exhibition from India in Malaysia and
the 19th in the series organised by the EEPC throughout the world.
It showcases products and technology from across the engineering industry
including agricultural implements, automotive components, basic metals
and products, construction and earthmoving equipment, domestic appliances,
electrical machinery and transport equipment.
Other products include food processing and woodworking machinery as well as
fabricated metal products and instruments.
Shah said bilateral trade between India and Malaysia is expected to exceed
US$10 billion this year.
He said the recently concluded Free Trade Agreement (FTA) between
India and Asean provides greater business opportunities for engagement between
the two countries.
Malaysia is also in an advantageous position as the gateway for Indian
companies to penetrate other markets in the Asean region, he added.
India was Malaysia's 10th largest export destination with total exports
increasing by 7.6 percent to US$5.84 billion in 2007 from the US$5.12 billion
the previous year.
From January to July this year, US$4.3 billion in exports was recorded,an
increase of 26.3 percent over the same period in 2007.
-- BERNAMA
Malaysia is currently the largest importer of Indian engineering products,
accounting for about 19 percent of Asean's total imports of about US$3.93
billion.
Shah said the three-day Indian Engineering Exhibition 2008 (INDEE 2008),
which began here on Sept 25, would provide more investment opportunities for the
business communities of both countries.
"The exhibition helps the Indian engineering industry showcase its
strengths and capabilities while establishing ties between both countries," he
told Bernama in an interview on the sidelines of the INDEE 2008 Friday.
INDEE 2008 is the largest engineering exhibition from India in Malaysia and
the 19th in the series organised by the EEPC throughout the world.
It showcases products and technology from across the engineering industry
including agricultural implements, automotive components, basic metals
and products, construction and earthmoving equipment, domestic appliances,
electrical machinery and transport equipment.
Other products include food processing and woodworking machinery as well as
fabricated metal products and instruments.
Shah said bilateral trade between India and Malaysia is expected to exceed
US$10 billion this year.
He said the recently concluded Free Trade Agreement (FTA) between
India and Asean provides greater business opportunities for engagement between
the two countries.
Malaysia is also in an advantageous position as the gateway for Indian
companies to penetrate other markets in the Asean region, he added.
India was Malaysia's 10th largest export destination with total exports
increasing by 7.6 percent to US$5.84 billion in 2007 from the US$5.12 billion
the previous year.
From January to July this year, US$4.3 billion in exports was recorded,an
increase of 26.3 percent over the same period in 2007.
-- BERNAMA
