CYBERJAYA: Malaysia is expected to be able to maintain the pace of the export of motor parts and components as well as accessories which reached RM3.4bil last year.
Second International Trade and Industry Minister, Datuk Seri Ong Ka Chuan (pic), said Malaysia’s trade performance was still strong and that included the car parts segment.
“The world motor vehicle market is vibrant like the handphone segment. For the car accessories, there are always a new market because the population of the younger generation is growing and they too want to own vehicles.
“We still can maintain the pace (of export), but we have to work harder to find new markets,” he said.
Ong said with the Government helping boost market access by signing free trade agreements with friendly countries, local firms needed to innovate and improve the quality of products to enter the new market.
He said this at a press conference after witnessing the signing of the joint venture agreement between Azman Hamzah Plastik Sdn Bhd (AHP) and Sakamoto Research and Development Holdings Ltd, and the memorandum of understanding between Malaysia Automotive Institute and Sakamoto Mfg Malaysia Sdn Bhd here yesterday.
“One of the ways the local sector can enhance itself is by having local vendors develop a strategic partnership with a foreign company, like the one between AHP and Sakamoto Group.
“And for the Sakamoto Group, it would also benefit by the many FTAs that Malaysia signed,” he said. – Bernama