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Malaysian entrepreneurs urged to explore local biz opportunities
Jul '08
Venezuela is emerging as one of the most favoured investment destination and the Malaysian Government has urged enterprises to explore business opportunities in nearly eight of its potential sectors.

Textile and petroleum sector in Venezuela would in particular provide ample opportunities for Malaysian investors.

For instance, since both the countries are major oil and gas producers, a joint venture in the sphere by enterprises from both sides could help procure huge profits.

A recently held one day seminar on 'Business and Investment Opportunities in Venezuela' in Kuala Lumpur provided a platform for the business communities of the two countries to explore opportunities and to expand their existing business links for mutual benefits.

The event was organized by Venezuela's Embassy in collaboration with Mida and supported by the Malaysian External Trade Development Corp and the Malaysian South-South Association.

Malaysian companies have also actively participated in the development of infrastructure projects of many South East Asian and Middle East nations and it could do the same for ventures in Venezuela as well.

The overall trade between the two countries increased by 41.1 percent to US $83 million last year; with Venezuela importing goods, mainly machinery worth $54.6 million from Malaysia and exporting similar products worth $28.6 million in exchange.

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