FIATA World Congress In Malaysia's KL To Generate US$2.27 Mln Economic Impact

KUALA LUMPUR, April 18 (Bernama) -- The 56th International Federation of Freight Forwarders Association (FIATA) World Congress this October is expected to attract up to 1,200 delegates and have an estimated economic impact of RM10 million (US$1 = RM4.41). Malaysia's Transport Minister Liow Tiong Lai said the Congress, at the Kuala Lumpur Convention Centre from Oct 4-8, is a perfect platform for the global logistics community to know what the government is doing to support and improve the capability of the industry in Malaysia. "I also view this event as the perfect avenue for Malaysia to achieve its over-arching objective of positioning itself as the preferred logistics gateway to Asia. "The logistics industry is the backbone to the supply chain and plays a major role in stimulating and facilitating trade, while spurring economic growth," he said in his speech during the soft launch of the FIATA World Congress here, Tuesday. At the same time, Liow called on local logistics services providers to be ready to be global companies in a bid to spur the Malaysian logistics industry to go beyond regional markets. It was also his hope that the government sector learns much from deliberations at the Congress to assist the government as policy makers and better understand, facilitate the development of the logistics industry. As the Transport Ministry is responsible for laying the foundation for Malaysia to be the logistics and e-fulfillment hub for Asia, Liow invited local logistics player to become involved in the fast emerging e-commerce market as the country has target to expand the market size to US$3.4 billion come 2020. "The establishment of the Digital Free Trade Zone at the Kuala Lumpur International Airport (KLIA) Aeropolis is also timely in enabling the country to grow further in e-commerce. "In 2014, Malaysia’s e-commerce trade was only at US$1.5 billion and way behind China (US$279 billion and United States (US$ 271 billion). I hope the participation of Alibaba will accelerate the e-commerce market growth,’ he said. Themed, "Logistics Bridging Global Trade", the Congress, which is co-hosted by the Federation of Malaysian Freight Forwarders (FMFF) and Ministry of Transport, is also aimed at facilitating trade, reducing the cost of doing business and contributing to enhancing productivity and efficiency of the economy FMFF President, Alvin Chua Seng Wah said it was an honour to organise the prestigious international event in Malaysia. He pointed out that FMFF began submitting Malaysia's bid from 2012 and it was only in 2014 that the country won the right to host the congress. "We are confident that the FIATA World Congress 2017 will be a resounding success with the support of government agencies, our major sponsors, exhibitors and the participation of our local delegates," he said. FIATA is a non-governmental organisation which represents an industry of about 40,000 forwarding and logistics firms, while employing 10 million people in 160 countries. -- BERNAMA