Opportunities for Malaysian Building Materials Companies in Thailand
MONDAY, SEPTEMBER 15, 2014, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) is spearheading the participation of Malaysian companies in a Specialised Marketing Mission (SMM) of Building Materials to Bangkok Thailand, from 17 – 19 September 2014. The program is organised in conjunction with the Building Materials Expo Asia 2014 and the Construction & Building Technology Week at Impact Exhibition & Convention Centre, Bangkok, Thailand. This SMM managed to group Malaysian companies involved in manufacturing of aluminium foil, stainless steel products, LED lightings, fencing system, waterproofing materials, Fibreglass Reinforce Plastics (FRP), Spa equipment and adhesive & sealants.
The Specialised Marketing Mission will give good exposures to these companies not only to give them better opportunities to meet directly with potential partners but also to provide them with the latest in trends and requirements to export to Thailand. The SMM is also aimed at promoting Malaysian green building and construction materials.
According to Mr. Niqman Rafaee Mohd Sahar, the Trade Commissioner of MATRADE in Bangkok, greater potential is available in Thailand for green building and construction materials from Malaysia especially with the recent development in Thailand that focuses on clean environment and the use of environmentally friendly materials for buildings. Owners of such building will be eligible for incentives offered by the Thailand Green Building Institute (TGBI) under the so called “TREES Rating Systemâ€.
In 2013, the total market for building materials valued at more than RM35 billion with overall construction and mining sector contributing 4.3% of the Gross Domestic Consumption (GDP). Among the high demand products includes iron and steel related, pipes, sidings, roofing, plastics based products, lighting fixtures, energy savings and green technology products, decorative, tiles and flooring, fixtures and fittings related and others.
Malaysia exported RM1.94 billion worth of building materials products to Thailand in 2013. For the period of January – June 2014, exports was valued at RM1.06 billion. Major exports products include tubes, pipes, iron and steel, wood, simply worked and nails, screws, nuts. In 2013, among ASEAN, Thailand is Malaysia’s 2nd largest trading partner and 2nd largest export destination.
Thailand is Malaysia’s 5th largest trading partner, with total bilateral trade valued at RM78.6 billion in 2013. For the first half of 2014, total trade increased by 5.6 per cent to RM39.9 billion compared to the same period last year.
