Malaysian Companies Explore Opportunities For The Chemicals Industry At Two Emerging Countries

SATURDAY, 24 NOVEMBER 2018, KUALA LUMPUR: Malaysian companies are set to explore export opportunities for chemicals and chemical products in Vietnam and Cambodia through Malaysia External Trade Development Corporation (MATRADE) signature export promotion programme, Export Acceleration Mission (EAM). The EAM will take place in Ho Chi Minh and Phnom Penh from 26 – 30 November 2018.

To be spearheaded by MATRADE, the initiative will capitalise on the booming demand for industrial processing, manufacturing activities and chemical-based consumer products in the two emerging ASEAN markets.

The 5-day mission involving xx Malaysian companies will feature pre-arranged business meetings between Malaysian companies with xx potential buyers, briefing by local authorities, chambers at respective cities and site visits to the related associations and retailers. These programmes aim to provide detailed insights on doing business at both markets.

During the business matching sessions, Malaysian companies will be able to introduce and pitch their products or services to high-potential buyers in both countries. The B2B matching is considered the most effective platform for Malaysian companies to secure export sales.

The Malaysian delegates in the mission will be offering high quality chemical products and world-class services such as industrial chemicals cleaning products, detergents, specialty chemicals, raw materials of petrochemicals, plastic products, fertilisers, industrial lubricant oils, agrochemicals, storage & warehousing services, Original Equipment Manufacturing and contract manufacturing for chemical products, engineering services to support the water treatment, power and many more.

“MATRADE has more than two decades of experience in coordinating effective business matching sessions for Malaysian business with foreign buyers. We hope through this mission, the participants will be able to secure potential business leads and strengthen Malaysia’s position as Vietnam’s and Cambodia’s preferred suppliers for chemicals and chemical products,” said En Wan Azhamuddin Jusoh, Deputy Director of Oil & Gas, Chemical and Energy Section.

There are huge opportunities for chemicals and chemical products in Vietnam. The country received more than USD 35 billion foreign investment just in 2017, which created high demand for industrial chemicals to support industrial processing and manufacturing activities. In 2017, Malaysia’s total trade with Vietnam for chemicals and chemical products grew by 21.1 per cent valued at RM4.36 billion as compared to the previous year. Total exports of chemicals and chemical products to Vietnam also grew in tandem, powering ahead by 22.1 per cent to RM3.69 billion in year 2017.

Meanwhile, Cambodia being a net importing country, poses high demand for industrial chemicals and consumer goods from chemical-based. Malaysia’s total trade with Cambodia for chemicals and chemical products recorded an increase of 25.6 per cent valued at RM87.6 million for the period of 2016 – 2017. Total exports of chemicals and chemical products to Cambodia grew by 24.5 per cent valued at RM85.3 million.

Updated by Corporate Communication Unit

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