ID :
373241
Thu, 07/02/2015 - 12:51
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Explore Chile's Car Parts Market, Says Matrade

KUALA LUMPUR, July 2 (Bernama) -- Malaysia External Trade Development Corp (Matrade) has urged Malaysian exporters to explore business opportunities in Chile’s rapidly-growing car parts market. In a statement here Thursday, Matrade said Chile's car parts market in 2015 was estimated at US$2 billion, with imports accounting for almost 70 per cent. Furthermore, there were ample opportunities in this market given the approximately four million vehicles there, of which, nearly 50 per cent of the cars in use might be over 10 years old, it said. "There is also a need to serve Chile’s vast public transportation, which includes the urban area buses in populated cities and the long-distance express buses that go from north to the south of Chile daily," it said. Malaysia's Trade Commissioner in Santiago, Noor Ezzwanee Ahmad, said to compete in Chile, Malaysian exporters needed to initially to lower their profit margins. "They must be aware that price is an important factor in their purchase consideration due to rising competition from other countries. We need to be as aggressive and committed in marketing while maintaining quality and service. "Apart from that, some Chilean importers would request a different specification to meet the local industry requirement, so exporters should be flexible with their production to accommodate the request," she said. -- BERNAMA

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