KUALA LUMPUR: Malaysia’s total exports to Latin America between January to May 2017 grew by 25.4 per cent in the period, with Mexico being Malaysia’s largest export partner in Latin America.
Malaysia External Trade Development Corporation (MATRADE) said that the nation's exports to Mexico was RM 7.85 billion in 2016 and RM4.16 billion for the period of January to May 2017.
"In 2016 Malaysia had a positive trade balance of RM6.30 billion with Mexico," MATRADE said in a statement today.
Among the other Latin America countries, exports to Chile amounted to RM680 million in 2016 and RM260 million for the period of January to May 2017 (with Malaysia having a positive trade balance of RM220 million with Chile in 2016).
Similarly, Malaysia’s exports to Colombia amounted to RM350 million in 2016 and RM170 million for the Jan-May 2017 period. Malaysia had a positive trade balance of RM230 million with Colombia in 2016.
MATRADE chief executive officer Dr Mohd Shahreen Zainooreen Madros said that there is plenty of upside opportunities in region and the agency is joining hands with Ministry of International Trade and Industry (MITI) to organise Latin American Business Day 2017 here on August 1.
"The event is targeting to attract around 500 participants, from both Malaysia and South America.
"The event is being organised in collaboration with all the ten Latin American and Caribbean embassies in Malaysia like Argentina, Brazil, Chile, Colombia, Cuba, Ecuador, Mexico, Peru, Uruguay and Venezuela," MATRADE said in a statement.