MONDAY, 7 OCTOBER, 2018, KUALA LUMPUR: Malaysia External Trade Development Corporation’s (MATRADE) signature business matching, International Sourcing Programme (INSP) held at the 4th Malaysian Oil & Gas Services Exhibition (MOGSEC) 2018, has provided opportunities for 34 Malaysian oil and gas companies to access markets such as the United Arab Emirates (UAE), Pakistan, Turkey, Myanmar and Vietnam.
The INSP that took place from 25 -26 September 2018, matched the Malaysian companies with eight foreign companies from the countries mentioned above. Through the 86 meetings organised, a total of RM397.90 million of export potential was recorded for the Malaysian companies.
According to MATRADE’s Chief Executive Officer Ir. Dr. Mohd Shahreen Madros, the INSP helps a great deal for the local companies as they get to meet with the foreign buyers in their home country, giving them a competitive advantage in terms of cost.
“After more than two decades of promoting trade, MATRADE has developed a strong niche and skill in organising business matching locally and internationally. Our INSP for instance is effective as we only match the local companies with reliable and high quality buyers,” said Dr. Mohd Shahreen. He added by emphasising the need for Malaysian companies to continue exploring trade opportunities through the INSP as well as MATRADE other trade promotion activities to strengthen and advance the growth of Malaysian oil and gas industry.
This year’s INSP at MOGSEC, saw foreign buyers sourcing various Malaysian oil and gas services such as oil & gas equipment and parts, rig cooling services, well testing support equipment services, vessel monitoring system, remote monitoring, manpower supply and services, transportation and logistics, services gas and saturation logging and simulation studies.
A representative from one of the buyers, National Energy Group Company Limited from Myanmar, commented, “We need more equipment with new and high technology from various countries especially Malaysia to develop our offshore and deep water areas acreages. Myanmar is very keen to work with Malaysian oil & gas services providers”.
MATRADE will continue to support and encourage Malaysian oil & gas companies to expand their business activities in the international market. Other programmes in the oil and gas sector that MATRADE is coordinating in 2018 includes the Export Acceleration Mission to Baku, Azerbaijan and Almaty, Kazakhstan from in September and the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in November.