Future Prospects and Market Potentials for Malaysia

Major imports of Malaysia are sourced largely from Asian countries such as China and India. Malaysia should focus   the imports of the 10 major raw materials for its domestic markets and for re-export.   Incentives should be given to local industries and food exporters to enhance the growth of the manufacturing sector and raise the level of production for processed and semi-processed products. Currently, relatively small amounts of raw materials are produced by small and medium industries (SMI). The top 10 imports products originate from sub-tropical regions and they are not viable to be grown locally.   t As such, increasing and continuous  imports of these products from their countries of origin would help to increase the production of local industries. For products that could be grown locally, new uses and applications needed to be found in order to widen the scope of global trading. New sources of suppliers, from countries in South America and Africa would increase the volume of trade for new as well as current products.

While the Asian countries like Thailand and Indonesia imported most of the    raw materials from Malaysia, exports to Europe could be further increased. There is evidence that manufacturers and consumers in Europe are becoming more aware of customers’ preferences for exotic formulations in their food preparations. Europe has a large market for herbal raw materials as well as for organic products and Malaysia will benefit by increasing its trade with this region. Besides Europe, North American markets such as the United States and Canada too have not been fully explored for trading   of herbal raw materials, finished and semi-finished products. Traditional products and processed items applications have been gaining popularity among consumers in these countries. Needless to say, with more efforts and the right policies in place, there will be a huge scope of Malaysia herbal trading prospects   with other countries around the world.