MATRADE Highlights Export Opportunities In Uganda At Matching Session (2 December 2015)
MATRADE HIGHLIGHTS EXPORT OPPORTUNITIES IN UGANDA AT MATCHING SESSION
WEDNESDAY, DECEMBER 2, 2015, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) received a delegation from Barclays Bank Business Group of the Republic of Uganda at the Malaysia Export Exhibition Centre (MEEC) in Menara MATRADE today. The visit was followed by a business matching session between Malaysian companies and Barclays Bank’s premium clients from Uganda.
The bank’s premium clients who participated in the business matching, termed as MATRADE’s International Sourcing Programme, were keen to source products and services from Malaysia as well as to forge strategic partnership with Malaysia’s companies in various business fields. The delegation was headed by Madam Annette Kiconco, Head of Enterprise Banking for Barclays Bank. The visit was Barclays Bank second visit to Malaysia. Previously, the visit took place in 2012.
A total of 14 business meetings were successfully arranged with 10 Malaysian companies. Among the products sourced were industrial machinery, underground cables, paints, home furniture and cooking oils.
Additionally, MATRADE also organised a meeting between Barclays, and EXIM Bank as well as SME Bank. The meeting was to explore potential areas of collaboration with the aim of strengthening trade and investment cooperation between Ugandan and Malaysia’s enterprises as well with African region in general.
Malaysia’s main export to Uganda comprised rubber products, chemicals & chemical products, palm oil & palm based products, manufactures of metal particularly iron & steel products and machinery as well as appliances & parts. The total trade between Malaysia and Uganda for the first 10 months of this year (January to October 2015) were valued at RM149 million, registering 30% increase as compared to same period in 2014.
The visit was timely as MATRADE aims to accelerate exports of Malaysian products and services to Uganda and African market. Malaysia’s exports to the African region in the first ten months this year grew by 4.5 % to RM 17.1 billion as compared to the corresponding period of 2014. Malaysian companies planning to venture into Uganda or its surrounding African countries are urged to leverage on MATRADE’s South Africa trade office located in Johannesburg, that covers the Ugandan market. The office is one of the 46 MATRADE trade offices around the world.
