Formulate long-term business plans with Japan — Matrade

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Norharuddin Nordin

KUALA LUMPUR: Malaysian companies need to look at long-term business plans, encompassing broader perspectives with Japan, said the Malaysia External Trade Development Corporation (Matrade).

Its chief executive officer, Datuk Norharuddin Nordin said there were ample opportunities for Malaysian businesses to not only fulfill Japan’s immediate demand to rebuild the country after the recent earthquake and tsunami, but also to gain greater awareness and exposure in the market.

“Japan is an important market for Malaysia due to stringent standards imposed on imports and we need to fulfill this requirement in order to enter the market there. It is a good market for us but we need to invest quite a lot in meeting these standards,” he told reporters after opening a seminar on “Export Opportunities in Post-Tsunami Japan” here yesterday.

Reflecting on the impact of the earthquake and tsunami, he said Japanese companies were in the process of restructuring and shifting their production base to other countries as they felt it was vital to strengthen their businesses abroad.

“This can be seen as an opportunity for us to attract more Japanese companies to invest here,” Norharuddin added. — Bernama