Malaysia External Trade Development Corporation

ASEAN BORDER TRADE 2016 TO DRIVE CROSS BORDER EXPORTS AMONG ASEAN NATIONS

SATURDAY, OCTOBER 1, 2016, KOTA BHARU: Malaysia is spearheading the initiative to drive cross border exports in ASEAN through ASEAN Border Trade (ABT) 2016 Exhibition held in Grand Riverview Hotel from 30 September till 2 October 2016. The inaugural event is a brainchild of Malaysia External Trade Development Corporation (MATRADE) - Malaysia’s export promotion agency under the purview of Ministry of International Trade and Industry (MITI).

Launched by Deputy Minister of MITI YB Datuk Chua Tee Yong, ABT 2016 involves the participation of over 150 exhibitors and 100 buyers from Malaysia and other ASEAN countries. The ABT 2016 is aimed at enhancing bilateral trade between Malaysia and other ASEAN countries as well as providing a platform for Malaysian companies to discover more export opportunities with potential partners from the ASEAN region.

The three-day event comprises an exhibition, business matching sessions (International Sourcing Programme), seminar & forum, business clinics as well as a showcase on local Kelantanese food and culture such dikir barat, wau and batik drawing demonstration .

One of the main components of the event - the International Sourcing Programme or INSP – will be held on 1 October 2016 involving 50 overseas buyers from ASEAN countries and around 100 Malaysian companies. Among the sectors to be promoted at the INSP are agricultural produce, apparel, food beverages, electrical & electronic (E&E) products, furniture, gifts & souvenir, beauty products and many more.

The INSP, MATRADE’s signature business matching programme, is considered as a cost-effective medium for Malaysian product and service providers to connect with international buyers. During the INSP, the Malaysian companies will be able to discuss business partnerships and opportunities through a series of one-on-one pre-arranged business meetings coordinated by MATRADE.

According to MATRADE’s Chief Executive Officer Dato’ Dzulkifli Mahmud, ASEAN as a successful regional grouping promises an abundance of intra-ASEAN trade opportunities for its members, one of which includes border trade activities. “A lot of entrepreneurs in states like Kelantan, Perlis, Kedah, Penang and Perak that are bordering with Thailand as well as Sabah (close to the Philippines) have been involved in border trade activities for many years. We also hope for the ABT 2016 to be a catalyst in driving a more concerted effort by both the government and private sector in accelerating cross border exports,” he says.

During the event, two Memorandum of Understandings (MoUs) have been exchanged involving MATRADE and Bangkok Bank Public Company Limited (on trade promotion cooperation) as well as between Gabungan Usahawan Parlimen Jeli and Narathiwat Chambers of Commerce (on cooperation in trade events).

Among the supporting agencies that are involved in the ABT 2016 include all MITI agencies, Economic Planning Unit (EPU), State Economic Planning Unit, East Coast Economic Region Development Council (ECERDC) as well as Malaysian chambers of commerce, trade associations, business and entrepreneurs association and higher education institutions in Kelantan.

From January to July 2016, exports to ASEAN remained resilient and grew by 5.8% or RM7.01 billion to reach a value of RM128.19 billion, accounting for 29.6% share of Malaysia’s total exports. The increase in exports was driven largely by the exports of E&E products (electronic integrated circuits), manufactures of metal (aluminium alloys), machinery, equipment and parts (air conditioner), processed food as well as chemicals and chemical products (alcohols, phenols and derivatives).