ERJ staff report (LMH)
Taiping, Malaysia – There is still room for Malaysian tire exports to grow, according to the Malaysian international trade minister as she reported that exports of tires and tire-related products increased 3.3% year-on-year to RM807.3 million (€207 million) in 2012, the National News Agency of Malaysia reports.
Dr Rebecca Fatima Sta Maria said that in 2012, the total world exports of rubber products amounted to RM 442.4 billion, for which tires accounted for 62%. She noted that there is room for Malaysian exports to grow as its major destinations include China, the US, Germany and Japan.
Sta Maria said that now there is an indication of the size of the market, it is important to focus on technological advances and demand for greener products to grow exports, the news agency reported.
She noted that one of the most challenging aspect of the tire business is the ability to overcome environmental-related issues. Sta Maria added that by 2020 it is estimated that about 20 million units of scrap tires will be disposed each year in Malaysia and she noted that this poses a threat to the environment, as well as an opportunity for business.
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Article from Bernama