Malaysia is set to buy more textiles from India next year as the first leg of the ASEAN-India free trade agreement to reduce and eliminate tariffs will be concluded by the end of the year.
“Upon the implementation of the free trade agreement between ASEAN and India, it is expected that 90 percent of the tariff lines will be included for tariff reduction and elimination,” Mr. Ng Lip Yong, Deputy Minister of International Trade and Industry, Malaysia, said.
The two-day Exhibition of Indian Man-made fibre textiles organized by The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) in Kuala Lumpur, Malaysia, was declared open jointly by Mr. Ng Lip Yong, Deputy Minister of International Trade and Industry, Malaysia, and Mr. Ashok K. Kantha, High Commissioner of India in Malaysia on 13th August, 2007.
The Exhibition was organized in association with the High Commission of India, Malaysia and with the support of the Kuala Lumpur & Selangor Indian Chamber of Commerce & Industry, Kuala Lumpur.
Eighteen Indian companies took part in the exhibition, displaying their latest range of fabrics and yarns, which included suitings, shirtings, dress materials, embroidered & high fashion fabrics, furnishings, home textiles, scarves, stoles, shawls, odhanies, laces and yarns of man-made fibres and blends.
The exposition assumes greater significance as it was the first promotional event organized within the last 15 years by SRTEPC in Malaysia.
Malaysia is a traditional market for Indian Synthetic textiles and exports are currently over Rs.220 crores per annum. The two-day Exhibition attracted around 200 trade visitors and besides a few trial orders received on the spot, the ongoing negotiations are expected to result in further substantial orders shortly to the participants.
The SRTEPC Exhibition has given a tremendous boost to the export efforts for Indian Man-made fibre textiles to Malaysia.
The Synthetic & Rayon Textiles Export Promotion Council
marketing@alchempro.com
