RECOGNIZING the importance of strengthening the existing presence of Malaysian companies in the Philippines, Malaysia External Trade Development Corporation (MATRADE) is spearheading the Export Acceleration Mission (EAM) in Manila, Philippines.
The event featuring 12 Malaysian companies from sectors ranging from food & beverages, healthcare and ICT is a strategic collaboration between MATRADE, the Ministry of Entrepreneur Development and Cooperatives (MEDAC) 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 familiarise Malaysian companies with rules and regulations on doing business in the Philippines.
According to MATRADE Trade Commissioner in Manila, Intan Zalani, “This mission will provide an enormous opportunity for Malaysian companies to establish their presence in the Philippines’ market and expand key business relationships. With 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”.
Within ASEAN, the Philippines is Malaysia’s 5th largest export destination after Singapore, Thailand, Vietnam, and Indonesia. Between January and June 2022, Malaysia’s trade with the Philippines recorded double-digit growth of 30.1 percent, reaching USD4.5 billion. Exports from Malaysia to the Philippines were also encouraging, increasing by 24 percent to USD3.23 billion, while imports from the Philippines to Malaysia grew by 44.3 percent to USD1.62 billion.
Philippines’ companies who are looking to source Malaysian products and services can connect with MATRADE Manila at manila@matrade.gov.my to receive the latest market updates and information on business opportunities.
