Malaysia is a multi-ethnic society of 28.4 million and the country has remained in a strong economic position in spite of the economic downturn and it aims to achieve Developed Nation status by 2020. It’s also one of the world’s best spots for offshore manufacturing and service-based ventures.
And, much like Singapore, it’s strategic position between the Indian Ocean and the South China Sea makes it popular with investors.
Trade between the UK and Malaysia is worth around £8 billion, making it the UK’s second largest trading partner in the Association of Southeast Asian Nations (ASEAN). If you’re interested in doing business in Malaysia, the top five sectors for trade are:
- machinery and transport equipment
- manufactured goods
- chemical and related products
- crude and fuel
- food, beverages and tobacco
Here’s everything you need to know about exporting to Malaysia…