THURSDAY, NOVEMBER 25, 2021, SAUDI ARABIA: Malaysia External Trade Development Corporation (MATRADE), Malaysia’s National Trade Promotion Agency spearheaded an Export Acceleration Mission (EAM) to Jeddah & Riyadh, Kingdom of Saudi Arabia from 13 to 18 November 2021.
Amongst the objectives of the programme were to provide networking platform as well as to build business partnership between Malaysian and Saudi business community exploring trade opportunities.
A total of six (6) Malaysian professional services providers participated in the mission which aims to boost exports of Malaysian professional services in Saudi. An array of programmes were arranged by MATRADE Jeddah, comprised of roundtable meetings, business matchings, pitching session, MOU signing and networking dinner.
Two MOUs were inked by Malaysian companies with their Saudi counterpart. The MOU was between Alam Dingin Air Conditioning Engineering Sdn Bhd and The Synergy International. The MOU document is focusing on promoting mutual exchange and development of Heating, Ventilation, Air Conditioning and Refrigeration (HVACR) system in the Kingdom of Saudi Arabia. The second MOU was between VERITAS Architects Sdn Bhd and Muhammed Abdulrahman AlBassam Bureau of Engineering Consultancy. The main scope of this MOU is on pre-contract works which covers conceptual design until production of tender documents. The MOUs signing ceremony was witnessed by H.E Ambassador of Malaysia to Saudi Arabia, YBhg. Dato' Abd Razak Abdul Wahab with the presence of MATRADE Director, YM. Mr. Raja Badrulnizam Raja Kamalzaman and the Trade Commissioner of MATRADE Jeddah, Mr. Yusram Yusup.
The EAM programme witnessed positive outcome by the Malaysian and Saudi companies which registered a potential sales of RM122.5 million.
According to Mr. Yusram Yusup, “The bilateral trade between the two countries for the first nine months of 2021 was worth RM12.88 billion. Malaysia’s exports to Saudi were valued at RM3.56 billion while imports valued at RM9.31 billion”.
“MATRADE will continue its efforts in providing businesses especially for Malaysian companies to transcend the pandemic by providing platforms to share their expertise, capabilities and capacity of supplying a wide range of products and services to global markets. In future, there will be more trade missions to Saudi in other targeted sectors”.