ASEAN Business Forum 2015: Uncovering More Pockets Of Growth In ASEAN
THURSDAY, MARCH 12, 2015, KUALA LUMPUR: Anticipation is running high with the formation of ASEAN Economic Community (AEC) set to take full shape by the end of this year. Realising the importance for Malaysian exporters to keep abreast with the opportunities and challenges that lie ahead of the AEC, Malaysia External Trade Development Corporation (MATRADE) has taken the initiative to organise ASEAN Business Forum 2015 at Menara MATRADE in Kuala Lumpur.
The event which commenced today is themed as‘Enhancing Business Opportunities in ASEAN’. The eventwas attended by over 1,000 participants from all over the country and was officiated by YB Dato’ Sri MustapaMohamed, the Minister of International Trade and Industry.
ASEAN Business Forum 2015 is part of the Government’s initiative to build more awareness on the opportunities within ASEAN and it also serves as a platform for the business community to exchange views on new approaches to deepen the linkages for intra-ASEAN trade.
The forum comprised two panel discussions led by themembers of the Malaysian Business Councils from ASEAN member countries. The discussions gave participants an insight on ASEAN’s market needs and prospects.
Complementing the panel discussions were briefings and consultation sessions held throughout the day where participants were updated on the AEC’s business potentials, challenges as well as the services provided by MATRADE for Malaysian exporters.
With a population of more than 620 million in ASEAN, the realisation of AEC will create a single market and production base for the region. As the Chair of ASEAN, Malaysia plays a key role in driving the business trade and investment within the region.
ASEAN continues to be Malaysia’s major market, driven by improved economic and investment policies, growing middle income group as well as development plans and reformed activities by respective markets.
In 2014, Malaysia’s trade with ASEAN reached RM3.89 billion, accounting for 26.8 percent share of the country’s total trade - reflecting the region’s importance as a key market for Malaysia’s products and services. Exports to ASEAN last year increased by 6 percent to RM213.56 billion, contributing to 27.91 percent of Malaysia’s total export. The top-3 ASEAN markets for Malaysia last year were Singapore, Thailand and Indonesia with each recording 51 percent, 19 percent and 15 percent of Malaysia’s total export share, respectively.
