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[ 14-05-2014 ]
Local SMEs Invited To Explore Trading Potential In Yiwu City, China
KUALA LUMPUR, May 7 (Bernama) -- The Qinghai Islamic Chamber of Commerce and Industry is inviting Malaysian small and medium enterprises (SMEs) to explore the vast business potential that exist in Yiwu, Zhejiang province, which operates the world's largest wholesale market.

Deputy Chairman Ibrahim Ma Yong said Yiwu had transformed into an international trading centre after Arabs and African businessmen migrated and set up business in the city.

"But, there are only a few Malaysian businessmen who are trading with their counterparts here and most of the products brought in are coffee and chocolates.

"Malaysia has many similarities with Yiwu. We both have a Muslim population, and have different races and different cultures.

"Yiwu has a population of two million people and a majority of them originated from Africa and Middle East countries after the year 2000 to set up business here.

"Malaysian SMEs should also take advantage of the fact that there is a Muslim population of 30,000 people," he told Bernama.

Ibrahim said business in the Yiwu market was usually carried out by small-time retailers.

"The New Yiwu Market houses more than 80,000 shops which sell a variety of goods ranging from clothes to jewellery," he said, adding that the chamber also organised the annual International Halal Food and Products Exhibition.

Thirty Malaysian companies would participate in the event this year scheduled to be held from May 15-18 in the Qinghai province.

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