Boosting Exports: MATRADE Connects Global Buyers with Malaysian Suppliers at BuildXpo 2023
TUESDAY, 21 NOVEMBER 2023, KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) in collaboration with Qube Integrated Malaysia Sdn. Bhd. had successfully organised the International Sourcing Programme (INSP) in conjunction with BuildXpo 2023 on 15 November 2023 at the Malaysia International Trade Exhibition Centre (MITEC), Kuala Lumpur.
BuildXpo 2023 marked the inaugural construction and building materials exhibition, held in conjunction with the 22nd International Construction Week (ICW). Regarded as one of the premier trade events in the building and construction industry, BuildXpo aimed to be touted as the region’s leading multinational exhibition and networking event in the industry’s trade calendar. It brought together key industry players, including construction services, building materials companies and buyers, offering a singular platform to showcase the latest trends and technology in construction.
A total of 19 foreign buyers from seven countries participated in the INSP. Among the participating countries were Germany, Hong Kong, Thailand, Philippines, Vietnam, Cambodia and Kazakhstan. Over 120 business meetings were arranged by MATRADE between 42 Malaysian companies and 19 foreign buyers which resulted in the potential sales worth RM117.82 million. Among the Malaysian products sourced during the programme were wooden flooring and doors, paints and coating as well as power cables.
Apart from INSP, Malaysian companies also showcased their products and services under the MATRADE pavilion at Hall 2 of MITEC. Among them were wooden doors, power cables, paints and coating, construction and property development, drone mapping, banking facilities and logistic services.
In 2022, Malaysia’s total exports of building materials were valued at RM48.81 billion accounted for a 3.15 per cent of the total Malaysian exports worldwide. Our major markets for export of building materials were Singapore valued at RM8.50 billion, followed by the United States of America (RM5.12 billion) and the People’s Republic of China (RM4.07 billion). Among the top exported building material products from Malaysia in 2022 were iron and steel products, non-metallic mineral products, manufacturers of metal, wood products as well as sawn timber and moulding.
Datuk Mohd Mustafa Abdul Aziz, Chief Executive Officer of MATRADE emphasised, “In today's global marketplace, it's imperative for Malaysian enterprises to incorporate sustainable practices in their businesses while embracing digital technologies. Nurturing innovation is vital in maintaining competitiveness in the international arena. With MATRADE's global reach of 49 offices, we are resolutely committed to welcoming more strategic partners, forging paths for Malaysian companies to venture into new export horizons, create a more sustainable and prosperous future for the Malaysian economy”.
“Environment Social Governance (ESG) has become a critical element for the construction industry due to its significant impact on the environment and society. Incorporating ESG into the decision-making process will lead to a sustainable ecosystem and cost reduction for the industry” he added.
MATRADE will continue to promote Malaysian capabilities in the construction industry through a series of development and export promotion activities. In December 2023, MATRADE will spearhead an Export Acceleration Mission (EAM) to Jakarta to explore the vast opportunities in the Ibu Kota Nusantara (IKN) project.
Malaysian companies who are keen to participate in EAM to Jakarta are encouraged to contact the Construction & Business Services Section at 03-62077616 or visit MATRADE’s website and social media channels for details.
