MANILA – As part of the continuous efforts to promote Malaysian capabilities in the food and beverages , healthcare, ICT and other products particularly biotechnology industries, the Malaysia External Trade Development Corporation (MATRADE), together with the Ministry of Entrepreneur Development and Cooperatives (MEDAC), as well as SME Bank organised the participation of 12 Malaysian companies in
the Export Acceleration Mission (EAM) to Manila, Philippines from 22 to 26 August 2022.
“This strategic collaboration is well-timed to assist Malaysian SMEs in export activities and diversifying into new market. To make this effort more effective, MATRADE needs all the support it can get including from SMEs, to realise this goal”, according to MATRADE’s Deputy Chief Executive Officer (Exporters Development), Mr. Abu Bakar Yusof.
The objective of this EAM is to promote products and services to Philippines by providing a
platform for Malaysian companies to explore and identify new business opportunities through
business matchings, pitching sessions as well as market visits. It is an excellent platform to
penetrate the market, leveraging on the participation of high-profile and prominent Philippine
market players who are looking for new business opportunities.
Driven by the ASEAN Free Trade Agreement (FTA) that came into force in 1992, Malaysia and Philippines have continued to experience growth in bilateral trade. Malaysia’s exports to the Philippines increased by 29.5% to RM13.84 billion (USD3.23 billion; 1.9% share to total export), compared to RM10.69 billion (USD2.60 billion) in the same period of 2021. The top 5 main exports were electrical & electronic products, palm oil & palm oil based agricultural products, petroleum products, chemical & chemical products and iron & steel. Philippines is ranked as Malaysia’s 15th and Malaysia ranked as 10 th Philippine’s trading partner globally in 2021.
“Since 1993, MATRADE has been instrumental in facilitating the inclusion of Malaysian companies in the global supply chain through our Exporters Development and Export Promotion Programmes. Moving forward, we will ramp up our efforts for more Malaysian products and services gaining entry into the world arena”, Abu Bakar said.
This EAM is just one of the many initiatives by MATRADE lined up for 2022. In total, there are a total of 286 programmes encompassing both exporters development and export promotion programmes. These programmes will serve as effective channels for Malaysian manufacturers and professional service providers to promote their world-class products and services globally, which will eventually lead to expansion of Malaysia’s export markets.
