Explore investment opportunities in S. America, Asean traders told
Published on: Saturday, August 25, 2018

Kuala Lumpur: Asean traders should explore investment opportunities in South America, which has a high import and export business potential, especially in livestock farming and halal food.The Asean Traders Association (Perda-Asean) President Datuk Moehamad Izat Emir said areas which could be explored included meat from slaughtered animals and halal canned food which could be resold to the Middle East countries and Muslim-majority countries. Additionally, the global market for halal health and beauty products had also been expanding exponentially, he said.

"Investors from member countries of the South American trade bloc, Mercosur, have always been focusing on Europe and the Americas.

"They have not really been exposed to Asean and Asia, so our efforts to collaborate with them will open up new investment opportunities for them," he said in an interview with Bernama Radio here.

Established in 1991, the Mercosur trade bloc comprises Argentina, Brazil, Paraguay and Uruguay.

Moehamad Izat said investors could also explore areas such as land acquisitions and long-term leases, livestock farming and foreign direct investments.

He said Malaysia had an advantage in establishing trade ties with Mercosur due to its modern infrastructure, advanced skills in the halal sector and the strong support from the Halal Industry Development Corporation, Ministry of International Trade and Industry and the Malaysia External Trade Development Corporation.

Collaborations with Mercosur would also enable Malaysia to become a global force in halal livestock farming.

"Kobe beef from Japan was once regarded as the best in the world, but now, beef from Argentina and Uruguay are the best in terms of quality," he said.

Meanwhile, Moehamad Izat said the Mercosur-Asean Chamber of Commerce would be organising the first Roundtable Talk of Ambassadors from Mercosur and Asean Countries on Aug 29, which will be attended by 10 ambassadors from Asean and four from Mercosur member countries.

He added that the programme provided a platform for Asean businesses, including Malaysia, to get to know the Mercosur markets. –Bernama


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