Posted on : 08-03-2017 | By : sabah today | In : National Business
KUALA LUMPUR: Malaysian car vendors see great potentials in partnering with their Japanese counterparts to tap the growing Asean Economic Community market.
In a statement today, Perusahaan Otomobil Kedua Sdn Bhd (Perodua) said 44 Japanese car vendors and trading companies attended a business-matchmaking session with 25 Perodua vendors in Tsu City, Mei Prefecture yesterday.
The event was hosted by Hyakugo Bank of Japan.
During the event, bank President Toshiyasu Ito said South-East Asia was an attractive market for Japanese companies and that partnerships between Malaysian and Japanese companies with the most advanced technology would give a competitive edge in the market.
The event was jointly organised by the Malaysian Automotive Association, Malaysia Investment Development Authority, Malaysia External Trade Development Corp, Japan Trade Organisation and Perodua.
The potential collaborations include strategic partnership and/or technical assistance in plastic and metal parts, tools, electrical parts and after-market parts.
MAI Chief Operating Officer, Nizma Mohd Nazar, said the event was a testimony of the strong bilateral economic relationship between Malaysia and Japan.
“It is intended to be a platform for our vendors to identify suitable and potential joint-ventures with Japanese car companies.
“It would also help promote strategic alliances in various business areas, including technological collaboration, business expansion opportunities, export market penetration and knowledge sharing, Nizma said.
Japan was Malaysias second largest trading partner in car products, with two-way trade amounting to RM6.8bil in 2015.
Malaysias exports of car parts and components to Japan last year increased by 27% to RM301.5mil from RM237.5mil in 2014.
“Perodua is a testament to what a Japan-Malaysia partnership can do, said Nizma.
Perodua President/chief executive officer, Datuk Dr Aminar Rashid Salleh, said the event was a milestone for the Malaysian car industry, as the Malaysian vendors involved were the best in their respective fields and were now on the verge or going regional, if not global.
They were vetted based on their dedication towards improving quality, discipline, productivity and commitment towards better cost management, he said.
Aminar said the business-matching session was a continuation of the Look East Policy, which began in 1981 as well as an opportunity to take advantage of the free trade agreement between Malaysia and Japan.