SUNDAY, 16 JUNE 2019, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) will be matching more than 40 Malaysian companies in the oil and gas sector with foreign buyers through its signature programme, International Sourcing Programme (INSP) as an effort to strengthen the inclusion of Malaysian Small and Medium Enterprises (SMEs) in the world’s global supply chain.
The INSP will be held in conjunction with the 17th Asian Oil, Gas & Petrochemical Engineering Exhibition (OGA) 2019, which is taking place on 18 & 19 June 2019 at Kuala Lumpur Convention Centre. OGA is recognised as one of the largest oil & gas show in Asia and considered a good platform to showcase the latest technologies, equipment and machinery in the fields of oil, gas and petrochemical engineering.
This year’s will be MATRADE’s second participation in the biennial event after 2015 and in this edition of INSP, MATRADE will bring together ten foreign companies from Vietnam, Myanmar, United Arab Emirates, Qatar, Pakistan, Netherlands, United States and Nigeria to the event. The business meeting sessions serve as a cost-effective catalyst for Malaysian companies to connect and explore trade opportunities through one-on-one pre-arranged business meetings with high-quality buyers sourced from MATRADE’s global offices buyers database.
“MATRADE has more than two decades of experience in coordinating effective business matching for Malaysian business with foreign buyers. The last time MATRADE organised the INSP at OGA was in 2015. During the event, sales of RM182.60 million (US$44.77 million) was recorded. We hope the participation this year will generate good results for the Malaysian companies,” said Mr Jai Shankar, Director of Oil & Gas, Chemical and Energy Section at MATRADE.
“This initiative will further improve market access for Malaysian oil & gas service providers amid the current challenging economic landscape in this industry. This effort has been receiving good feedback from Malaysian companies as they get to meet potential buyers from multiple countries under one roof in Kuala Lumpur. This saves their travelling cost,” he added.
The INSP provides the participating SMEs an opportunity to not only sell their products or services to the foreign buyers but also creates an avenue for them to find potential partners for joint ventures. “Other added values from our INSP include providing the local companies the exposure they need to enhance their products or services to meet the targeted market’s requirements,” Jai said.