News From : DagangHalal.com (29 Oct 2009)
KUALA LUMPUR, Oct 29 (Bernama) –The Malaysia External Trade Development Corporation (MATRADE), has identified potential sales of RM49.3 million from its five-day specialised marketing mission to Russia, from Oct 12.
Rubber automotive replacement parts and industrial hoses have great potential in the Russian market, since Malaysia is well known of its high-quality rubber and rubber products, Matrade said in a statement here on Thursday.
Delegates managed to secure four potential distributors for their rubber products during their business meetings in Moscow and St. Petersburg.
The delegation comprising 10 companies from the automotive parts and components, furniture, food and Islamic banking sectors, was led by Matrade’s deputy chief executive officer, Dr. Wong Lai Sum.
Wong said that despite the challenge of the language barrier and hidden trade rules, there are many untapped areas to be explored.
“Many Russian importers who are anxious to secure new products, are willing to work with Malaysian exporters to overcome the challenges,” he said.
Delegates involved in exporting automotive spare parts and lubricants managed to identify several potential Russian buyers and would continue to follow up on their business meetings.
He said Russia’s halal sector has been identified as a potentially lucrative one due to increasing demand from the ethnic Muslim population, estimated at 20 million out of a total populace of 143 million.
In 2008, Malaysia’s exports to Russia were worth RM3.17 billion, comprising electrical and electronic products, palm oil, processed foods, manufactured plastic and chemicals and chemical products.
— BERNAMA