Malaysia to increase trade with South Korea in high-value sectors

KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) is committed to boost trade with South Korea in high-value and high technology-driven industries, namely transportation, electrical vehicle, high-speed rail and train, halal, chemicals and financing.

These potential sectors were identified during its participation in the 2019 Asean-Republic of Korea Commemorative Summit held in Busan recently, the national trade promotion agency said on Dec 10.

The MATRADE trade commissioner in South Korea, Norharliza Yunos, said the feedback received by the Malaysian companies was overwhelming as many Koreans were aware of the country’s pro-business environment and Malaysian companies’ capabilities to supply to the world.

“Seeing the positive response given to Malaysia, MATRADE Seoul will strengthen our engagements with South Korea’s businesses and match them with capable Malaysian companies in our database,” she said in a statement.

South Korea, Malaysia eighth largest trading partner in 2018, is one of Malaysia’s key markets.

Norharliza said MATRADE plans to invite businesses in the republic to take part in its iconic trade fair, Malaysia International Halal Showcase (MIHAS) 2020, taking place in Kuala Lumpur on April 1-4 next year.

The event, which is also the largest halal trade fair in the world, would be an ideal platform for South Korean businesses to be introduced to Malaysian companies in high-value sectors, she added. – Bernama

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