Malaysia mission seeks local deals

In recognition of the importance of strengthening the existing presence of Malaysian companies in the country, the Malaysia External Trade Development Corporation is spearheading the Export Acceleration Mission.

The event, which will feature 12 Malaysian companies from sectors ranging from food and beverages, healthcare and information and communications technology, is a strategic collaboration between MATRADE, the Ministry of Entrepreneur Development and Cooperatives Malaysia and SME Bank Malaysia.

During the mission which will be held from 22 to 26 August, MATRADE through its Manila office will be coordinating over 100 one-to-one business meetings with leading importers and buyers.

Complementing this, programs that have been arranged for Malaysian companies include a Seminar on Doing Business with Malaysia, market visits, and networking sessions with relevant authorities, associations, and industry players. This is part of MATRADE’s efforts to familiarize Malaysian companies with rules and regulations on doing business in the Philippines.

Networking opportunity
According to MATRADE Trade Commissioner in Manila, Intan Zalani, “the mission will provide an enormous opportunity for Malaysian companies to establish their presence in the Philippines’ market and expand key business relationships.”

“With a young and fast -growing population, the Philippines offer valuable prospects for Malaysian-made products and services that are synonymous with quality and compliance with international standards,” he added.

Within ASEAN, the Philippines is the fifth largest export destination for Malaysia after Singapore, Thailand, Vietnam and Indonesia.

Between January to June 2022, Malaysia’s trade with the Philippines recorded double -digit growth of 30.1 percent, reaching $4.5 billion.

Exports from Malaysia to the Philippines were also encouraging, increasing by 24 percent to $3.23 billion while imports from the Philippines to Malaysia grew by 44.3 percent to $1.62 billion.

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