Bangalore, May 27 (IANS): Training its sights on India as a major export destination, Malaysia is holding a three-day international expo in this tech hub from Thursday to showcase its products and services for Indian businesses and consumers.
"As India's important trading partner, we are here again to strengthen bilateral trade between the two countries and flag our country as a source of diversified products and services in India," Malaysia's state-run external trade development corporation (Matrade) director Abu Bakar Koyakutty told reporters here Tuesday.
To be held at the sprawling Bangalore International Exhibition Centre (BIEC) on the city's outskirts for strengthening trade ties between the two countries, the fourth edition of the expo will see 26 exhibitors from automotive & machinery, furniture, healthcare & wellness, business services, franchise, chemical & biotechnology and food & beverages displaying their products and services.
Matrade held similar expositions at Chennai in 2013, Pune in 2012 and Mumbai in 2011 to encourage strategic business capabilities and synergies between Malaysian and Indian firms.
"The expo will also enhance trade and investment relations between the two countries by leveraging the Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) and the Indo-Asean Free Trade Agreement (AIFTA)," Koyakutty said at a preview of the event.
Tailored for the Indian businesses to meet up with Malaysian exporters, the expo will provide an opportunity to foster direct linkages for trading more products and services and explore joint venture in third countries.
"After covering Chennai, Pune and Mumbai, we have zeroed-in on Bangalore, which is one of the fastest growing metropolis in the Indian sub-continent and due to its rapid industrial development," Koyakutty pointed out.
In the automotive and machinery sector, Malaysian firms will seek orders to export automotive batteries, auto parts and components, logistic tankers and trucks and textile printing machines.
"We have more than these to offer as our firms have an excellent record and competitively prices services in diverse sectors such as construction, oil & gas, education, healthcare and telecom," Koyakutty noted.
The expo will also provide a platform for B2B meetings between visiting firms and prospective partners in diverse areas.
With 29.3 million population, the leading South East Asian country has a gross domestic product (GDP) per capita of $10,265 and a GDP growth rate of 4.7 percent.
Of the 13.4-billion trade with India in 2013, Malaysia exported goods valued at $8.2 billion and imported goods worth $5.2 billion, with $2.9-billion balance of trade in its favour.