The economy of Malaysia has been growing rapidly over a number of years now and so does the number of export import opportunities in Malaysia. The rapid economic growth has been mainly achieved by its ability to produce products that are in high demand throughout the world. Because of the strong economy and high buying capacity of its population Malaysia also spends lots of money on imports.
Export opportunities in Malaysia mainly come from its agricultural and mining sector with rubber and associated products like wood from a rubber plant being one of the leading and popular products that Malaysia exports to other countries. Major industries from across the world constantly buy products that are manufactured in Malaysia. The items like handicrafts made in Malaysia are in very high demand and sell at high prices in the International markets. People from all-round the globe are quite fascinated by Malaysian culture and products that are culturally significant can easily be exported to earn high profits. Other major export opportunities in Malaysia that come from many different products like semiconductors, computers and its accessories, equipment for telecommunications, electronic items, furniture and related products, household products, scientific equipment, hospital and medical supplies, oil seeds and food oils, and cotton clothing. Major fast growing export products include business machinery, industrial organic chemicals, automotive parts and accessories, and fuel.
Apart from export opportunities, there are also many import opportunities in Malaysia. Malaysia follows quite liberal policies when it comes to regulating imports as compared with the regulations adopted by other ASEAN countries. You can import most of the goods under Open Free License. There are some products that are regulated by restricted import license system like cement, cars and its components, iron, polypropylene and polyethylene. Other products like sanitary goods, electrical items, veterinarian or dietary products that don’t have a protectionist measure are also restricted in terms of approval under the import licenses. Quotas are rarely applied for import and are fixed for some of the products like rice, vegetables, fruits and meat depending on the domestic production. There are also some products that are prohibited for security or religious reasons. If you to benefit from various import opportunities in Malaysia you should carefully consider the multiracial population and social and economic disparities. It is recommended that you associate with a well reputed local agent or establishment, especially when starting a new business. The main products that you can import in Malaysia are civilian aircraft engines and its related parts, materials used for producing steel, telecommunications equipment, computer accessories, semiconductors, machinery for industry, testing, control and measuring instruments, plastic materials and electric apparatus. Fast growing imports in Malaysia include drilling and oilfield equipment, soybeans, corn, business machinery excluding computers, eggs, dairy products and, iron and steel mill products.