The Japanese Chambers of Trade and Industry Malaysia (Jactim) expects Malaysia-Japan bilateral trade to continue to strengthen this year from last year's RM145 billion, driven by trade from new industries such as halal, city and railway developments.
President Masato Nakamura said the two countries should explore the halal industry, which had huge potential, capitalising on the strength of Malaysia's halal certification.
"Jactim proposes to consider investment incentives to attract investors for halal-related business in Malaysia. Malaysia can become a gateway to Islamic countries' market," he told reporters at the chamber's 30th anniversary celebrations in Kuala Lumpur today.
Nakamura said the cooperation to develop the halal industryby both countries was be in line with the Malaysian government's ambition to transform Malaysia into an Islamic hub.
Besides the Halal industry, new collaborative areas between the two countries are city and railway developments.
"We will leverage on the development of public transport such as the mass rapid transit in the Klang Valley," he said.
On railway development, Nakamura said the railway network had contributed to the success of the high-income economy during the high economic growth period in Japan.
"It will benefit Malaysia's economic growth and enhance attractiveness as a target country for investments," he said.
On another issue, Nakamura said the over concentration on risk in China was becoming prevalent and the strategy of investing outside China, especially in Asean countries, was gaining attention.
He said Malaysia had the advantage to attract investors especially in the electric and electronics industries that are diverting from China.
He said the chambers was also closely following the formation of the Asean Economic Community in 2015 and its impact on the Japanese businesses.
Established in 1983, Jactim was the first foreign chambers of trade and industry set up in Malaysia to promote economic relations between Malaysia and Japan in the areas of international trading, commerce, industry and investment,
as well as protecting the interests of Japanese companies and promoting mutual friendship and cooperation among member companies.-- Bernama