Think Franchise, Entrepreneurs Eyeing China
Entrepreneurs eyeing newly emerging economies like China should consider venturing into the franchising business by promoting Malaysian products and services, according to the Malaysia External Trade Development Corporation (Matrade).
“Think franchise as China is still new in such a market and brand your products and services according to international standards,” Matrade’s international network and promotion director Dzulkifli Mahmud told members of the Dewan Usahawan Industri Desa Malaysia Sarawak at a briefing on forthcoming China Asean Expo (Caexpo) 2007 here Thursday.
Malaysia, which listed China as its fourth largest trading partner last year, will be one of the Asean countries participating at the expo, the largest international event for economic and trading cooperation within the China-Asean Trade Area, to be held in Nanning, China, from Oct 20 to 23.
Dzulkifli said a lot of people perceived the China market as a threat but local businessmen should view the huge potential of its 1,304 million population through a long-term trade partnership, including as investment locations for joint ventures between Malaysian and Chinese companies.
“Target merely a small fraction of the China market for a start,” he said, adding that China’s gross domestic product (GDP) was US$2,684.7 billion, with its GDP growth rising to 10.7 percent last year from 9.1 percent in 2002.
Being Malaysia’s fourth largest export destination and third largest import source in 2006, China was currently viewed as source of foreign direct investments (FDIs) as well as an important growing market for the export of goods and services, Dzulkifli said.
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