CAR VENDORS SEE POTENTIAL IN JAPAN
Business matchmaking session for 44 Japanese firms, 25 Malaysian companies
MALAYSIAN car vendors see great potential in partnering with their Japanese counterparts to tap the growing Asean Economic Community (AEC) market.
A total of 44 Japanese automotive vendors and trading companies attended a business matchmaking session with 25 Malaysian automotive vendors held in Tsu City, Mie Prefecture, yesterday, which was hosted by Hyakugo Bank of Japan.
“With the launch of AEC, Southeast Asia is a very attractive market for Japanese companies. For Malaysian firms, partnership with Japanese firms with the most advanced technology is said to be one of the important factors for overcoming competition,” said Hyakugo Bank president Toshiyasu Ito in a statement.
The event was organised by the Malaysian Automotive Institute (MAI), supported by Malaysia Investment Development Authority, Malaysia External Trade Development Corp, Japan Trade Organisation and Perusahaan Otomobil Kedua Sdn Bhd (Perodua).
The potential alliances could include partnerships and technical assistance in the areas of plastic parts, metal parts, tools, electrical parts and after-market parts.
The event was also attended by Hyakugo Bank chairman Tsuyoshi Ueda, Perodua president and chief executive officer Datuk Dr Aminar Rashid Salleh and MAI chief operating officer Nizma Mohd Nazar.
Nizma said it was a testimony of the strong economic relationship between Malaysia and Japan.
In terms of automotive products, Japan is Malaysia’s second-largest trading partner, with bilateral trade of RM6.8 billion in 2015.
“Malaysia’s exports of automotive parts and components to Japan recorded an increase of 27 per cent to RM301.5 million last year, from RM237.5 million in 2014,” said Nizma.
Aminar Rashid said the event was a historic moment for the Malaysian automotive industry and Perodua in particular, as all the 25 vendors were the best in their respective fields and were now on the verge or going regional, if not global.
“These 25 Perodua vendors were vetted carefully based on their dedication towards improving quality, discipline and productivity, while at the same time, committed towards better cost management,” he said.
Aminar said the business matching session was a continuation of the “Look East” Policy, as well as an opportunity to take advantage of the free trade agreement between Malaysia and Japan.
“Malaysia is a Japanese-friendly country with more than 30,000 Japanese living and working here. There are also over 3,000 Japanese-related firms operating here. We believe Malaysia is the right place to set up businesses,” he said.
Perusahaan Otomobil Kedua Sdn Bhd president and chief executive officer Datuk Dr Aminar Rashid Salleh (third from left), Malaysian Automotive Institute chief operating officer Nizma Mohd Nazar (centre), Hyakugo Bank president Toshiyasu Ito (second from right) and other officials during the opening of business matchmaking session in Mie Prefecture, Japan, yesterday.