BUSINESS OPPORTUNITIES EXIST FOR MALAYSIA IN WEST AFRICAN COUNTRIES

By R.Ravichandran

KUALA LUMPUR, July 7 (Bernama)-- Malaysia's Ambassador to Senegal,
Jamaiyah Mohamed Yusof, has embarked on a series of programmes to increase
bilateral trade and investment with the West African country and four others.

The four countries -- also West African -- are Gambia, Mali, Burkina Faso
and Cape Verde.

Speaking to Bernama in a recent interview in Putrajaya, Jamaiyah who is
also accredited to Gambia, Mali, Burkina Faso and Cape Verde said that
despite Kuala Lumpur and Dakar enjoying cordial relations, the volume
of bilateral trade was small.

According to Jamaiyah, she had made contact and was networking with the
Senegal Traders Association, and this had resulted in the participation of 22
Senegalese companies at the 6th Malaysian International Halal Showcase (MIHAS)
2009 in May this year.

She described this as a huge success, as no Senegalese companies had
participated in the previous MIHAS.

"Upon returning to Senegal, we had a post-mortem and realised that the
companies there need trading partners in Malaysia.I am happy that from nothing,
we can now expect something," she said.

Total trade between Malaysia and Senegal in 2008 was about US$15 million.
Since January this year, it has increased about 24 percent.

Jamaiyah said that she had also developed close rapport with the Senegal
business community while identifying several projects where the Malaysian
business sector could explore joint-ventures.

Among the major projects is the plan to build 70,000 units of homes for
Senegal's emerging middle-class, as there is an acute shortage of accommmodation
for them in the West African country of some 13.7 million.

Jamaiyah said on the Senegalese side, they lacked technology and the
financial capacity, and she was studying the whole concept of the project before
initiating further measures to secure suitable joint venture partners from
Malaysia.

She said that based on her observation, there exists ample opportunity in
the agro-based industry in Senegal, for potential joint ventures with Malaysian
businessmen.

"This is for the processing of mango juice, dried mango and pickle as well
as the export of fresh mangoes to Europe and the United States.Despite the
huge potential, they lack the technology to undertake the task.

"Another area with potential is in the trading of car batteries, tyres,
detergents, energy saving lamps, farming equipment,furniture and household
appliances.

"Malaysian health care products can also be popular in Senegal and one of
the Senegalese participants to MIHAS 2009 has already started importing such
products for distribution in Senegal.

"There are also good prospects for medical and pharmaceutical products," she
added.

On palm oil, Jamaiyah explained that Senegal buys from Malaysia but the
volume is small due to the high import tax of about 74 percent, to protect the
country's groundnut oil industry.

She decribed this situation as not being helpful to Malaysian exporters.

However, she has good news for Malaysia.

"I met Senegal's Minister of Trade and told him that local traders there
want to buy more plam oil which Malaysia was keen to sell. I was informed by the
Minister that the protection tax has been lifted and and full details would be
made known soon," Jamaiyah said.

She pointed out that Islamic banking was another area of cooperation,
as Senegal wanted Malaysian experts to train its people.

She highlighted that Senegal was also planning to send 10 personnel to
Malaysia to study the Islamic banking system.

Senegal’s ambition is to be the leader in Islamic finance within the West
African Economic and Monetary Union (UEMOA). The nine French speaking West
African countries under the UEMOA share one central bank headquartered in
Dakar, Senegal.

On problems in doing business in the French speaking country, Jamaiyah
stressed that the bureaucracy could be overcome and language too was not a big
problem.

The ambassador also spoke on the business potential in Gambia, Mali and
Burkina Faso.

Gambia, a nation of 1.7 million people is a Commonwealth member and Malaysia
is very well known there.

Jamaiyah explained that bilateral trade relations between Gambia and
Malaysia was not that very active though, with only about US$28 million
recorded.

"But the opportunity does exist to increase this, especially in respect of
investments in the areas of education and greater trading," she said.

Similarly, she stated, business opportunities also existed in French
speaking Burkina Faso, a small country of 14 million.

She pointed out that a delegation of seven companies from Burkino Faso
participated in MIHAS 2009 and had visited Marditech Corporation.

"They expressed an interest in buying food processing equipment, provided
they were given free training on usage.I have asked Marditech to provide the
free technical training," she said.

"As for Mali with a population of 13 million and Burkina Faso, the trade
level between Malaysia and these countries is similar to Senegal.Both are
interested in sourcing products from Malaysia such as foodstuff, furniture and
electric and electronic products.

"But before Malaysian investors invest or undertake trading in all these
countries, they must do their homework and get suitable partners," she said.

On Cape Verde, a small island nation of about 500,000,Jamaiyah said the
tourism sector had some potential in the Portuguese speaking country.

She said that Cape Verde had sent two people to attend the Malaysian
Technical Co-operation Programme (MTCP) in 2008.

She is hoping to get more people from that country to participate in the
programme in future, so that they will know more about Malaysia.

--BERNAMA