ID :
334998
Fri, 07/11/2014 - 10:34
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Malaysia-Hungary Trade To Increase To US$470.10 Million This Year

KUALA LUMPUR, July 11 (Bernama) -- The bilateral trade between Malaysia and Hungary is expected to increase to US$470.10 million (RM1.5 billion) this year from RM1.1 billion recorded a year ago, boosted by the potential in the export of processed food, wood products and rubber products to the country. (US$1 = RM3.19) National Chamber of Commerce and Industry Malaysia (NCCIM) Secretary-General Syed Hussein Al Habshee said the three sectors were the main sectors which can contribute to higher export volume. To this end, the chamber has encouraged Malaysians especially those who are involved in these sectors to explore and perceive Hungary as a new potential market. "Total exports of processed food products in 2013 rose to RM43 million from RM42 million in the previous year, export of wood products decreased to RM2 million from RM3 million in 2012, while export of rubber products increased to RM6 million from RM4 million," he told reporters here Friday after meeting representatives from the Hungary Chamber of Commerce and Industry. Syed Hussein added that the chamber would organise a trade mission to Hungary by year-end or early next year as an effort to increase the trade figures. "We are looking for an opportunity to set up a collaboration with potential Hungarian partners," he added. Last year, Malaysia's total export to Hungary amounted to RM697 million as compared to RM681 million in 2012, while total imports for 2013 stood at RM471 million versus RM253 million in 2012. --BERNAMA

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