Exports From Automotive Recycling Industry To Reach RM2 Bln IN 2020

MELAKA (Malaysia), April 23 (Bernama) -- Malaysia's export of components from the automotive recycling industry is expected to reach RM2 billion in 2020 through the involvement of 200 remanufacturing companies. (US$1=RM3.9) Deputy International Trade and Industry Minister Ahmad Maslan said the export of the products to Africa, Pakistan and the Middle East at present, is expected to touch RM500 million for this year. "The RM2 billion target can be achieved, despite us having just started the industry through the National Automotive Policy 2014 (NAP 2014). "We want to make the '4R2S', namely reuse, repair, recycle, remanufacture - spare parts and services, as the culture within the national automotive industry, as it is profitable and evident in a number of developed countries, including Japan," he added. He told reporters this after officiating the 9th International Roundtable Conference on Automotive Recycling 2016, here Saturday. Also present was the Chief Executive Officer of the Malaysia Automotive Institute, Mohamad Madani Sahari and President of the Malaysia Automotive Recycling Association, Gwee Bok Wee. There are 250 participants from Japan, Singapore, Canada, Australia, the United States, China and Europe at the four-day conference which began on Wednesday. Elaborating further, Ahmad said the development of the automotive recycling industry would be closely monitored via the NAP 2014 to ensure that the quality of recycled components meets the set standards, with manufacturers giving a guarantee for what is sold. He said at present, four remanufacturing companies and 5,000 recyclers were operating in the country, and the number is expected to increase within four years. "The recycling of the automotive components not only reduces pollution, but also the burden of users, as prices are lower by about 50 per cent compared to new parts," he added. He said the automotive recycling industry is in line with the government's efforts at ensuring that implementation of green technology in the country can be expanded. Ahmad Maslan said Bumiputera entrepreneurs were encouraged to participate in the industry and help improve the national income as well as meet the export target for it. -- BERNAMA