New Delhi: The International Affairs and Trade Fairs Division of PHDCCI in partnership with Malaysia External Trade Development Corporation ( MATRADE) organised a webinar on “Doing Business with Malaysia – The New Normal” on 18th December 2020 from 11:00 AM – 12:30 PM (IST) during the Malaysia – India Trade Expo 2020 scheduled on 17-19 December 2020
Mr. Sanjay Aggarwal, President, PHDCCI ,in his presidential address highlighted India and Malaysia have historically enjoyed warm and mutual relations. The close economic, cultural ties, presence of large Indian diaspora have acted pillars of our ever growing relations with India is one of the top 10 largest trading partners of Malaysia; while Malaysia is India’s 13th largest trading partner in the world.
Mr. Ajay Poddar, Chair, International Affairs Committee for East & South East Asia, PHDCCI gave an insight on the India – Malaysia trade development and cultural relations. The prime interest for Malaysian companies to invest in India has been infrastructure and construction sector with a particular focus on roads and highways, railways and up-gradation of airport and ports. Other sectors are telecommunications, ICT, engineering, power, oil & gas etc.
Mr. Mohd Feisal Ezuan, Trade Commissioner, Malaysia External Trade Development Corporation (MATRADE), Malaysia gave an overview on potential sourcing sectors of Malaysia such as oil and gas, furniture, rubber based products, green technology and construction, design and engineering with the total trade valued at US$10.5 billion as of Jan-Oct 2020. Malaysia main export items were palm oil and palm oil products contributing 23.7% followed by crude petroleum at 17.1 per cent, Manufactures of Metal at 12.1%, E&E at 11.9% and Chemicals & Chemicals products at 7.3% of the total exports.
Mr. Roswaidin Zain, Director, Malaysian Investment Development Authority (MIDA), Malaysia, in his presentation highlighted leveraging Malaysia for ASEAN expansion with the effective cost of doing business, utility cost, strategic location, business friendly investment policies, quality life and competitive investment incentives. Mr. Zain highlighted that by 2030, the regions excepted to contribute 60% of global growth.
Mr. Khairul Anwar, Director, Malaysian Timber Council, Malaysia highlighted the performance of Malaysian timber sector and the new normal- way forward. He gave a background of the popular Malaysian timber and its application. Mr. Khairul suggested to maintain traditional markets, focusing on the emerging markets, innovations and value add, encourage e-commerce & digitalisation and intensify promotion of value added products.
Ms. Bhavna Shah, Country Representative – India / Sri Lanka, Malaysian Palm Oil Council, Malaysia gave overview on impact of covid on palm oil sector and challenges faced by plantations in India and Malaysia such as shortage of labour, weak prices, demand- supply mismatch, shortage of foreign labour, climatic condition, reduced shift. She highlighted Malaysia is the second largest producer and exporters of palm oil in the world and India is one of the largest importer of Malaysia Palm oil. Both the countries can be benefited due to Indonesia’s hike in export duty and efforts and adjustment are needed from both the sides to improve the relation and help each other reduce the gap.
Dr. Suresh Motwani, Co Chairman, SEA IPOS Council, Solvent Extractors Association of India (SEA) appraised India – Malaysia joint efforts to promote sustainable Palm oil production & trade and its future scenario. Mr. Motwani also gave an overview of Indian oilseeds sector at glance and its edible oil consumptions. Dr. Motwani highlighted by 2025-26, India will require about 23-25 Mnt of edible oil and by 2025-26, the local production is likely to increase to 38-40 Mnt, equivalent to 12 Mnt of vegetables oils.
Mr Vipin Gupta, Vice president, Indian Vegetable Oil Producers Association highlighted that India has sufficient refining capacity in edible oil with quest to increase Palm oil production. He said India will take step towards increasing oil production with India oil demand will continue to grow by about 1-1.5MN MT for years. Both the countries need to work jointly and plan a long term palm oil program, which should also focus on increasing oil production in India.
Mr. Jaggarao Simancha, Founder & CEO, ASC Agenda Suria Communication Sdn. Bhd, Malaysia deliberated about the change in the business dealing due to pandemic and the need for virtual meet to help the industries in the current situation in connecting with buyer across the emerging markets and networking opportunities.
The Webinar was jointly moderated by Mr. Naveen Seth, Principal Director, PHDCCI & Mr. Niraj, Secretary, International Affairs, PHDCCI and witnessed the participation of more than 250 industry members from India and Malaysia.