Malaysian Companies Seal RM125 Million Worth of Deals in MATRADE-Led Mission to India and Bangladesh
FRIDAY, 17 NOVEMBER 2023, KUALA LUMPUR: Malaysia External Trade Development Corporation’s (MATRADE) continues to drive Malaysia’s exports to the South Asia region and are increasingly gaining traction from Indian and Bangladeshi buyers. This is reflected in the recent Export Acceleration Mission (EAM) to India and Bangladesh, which generated total sales of RM125 million. More than 500 business meetings were organised in Mumbai, Chennai and Dhaka as part of this mission, which was held from 29 October to 3 November 2023.
The EAM featured the participation of nineteen (19) Malaysian companies across various sectors, including Fast-Moving Consumer Goods (FMCG), building materials, machinery, Information and Communication Technology, oil and gas, medical devices, and services.
The sectors that generated the most sales included oil and gas and FMCG. MATRADE’s offices in Mumbai and Chennai collaborated with prominent chambers of commerce in India and Bangladesh to organise the business matching sessions as well as market visits, engagement sessions and networking sessions. Some of the foreign chambers that were involved in this EAM included:
- Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI);
- The Associated Chambers of Commerce and Industry of India (ASSOCHAM);
- Indian Chamber of International Business (ICIB);
- Madras Chamber of Commerce; and
- Hindustan Chamber of Commerce.
The EAM was organised to continue supporting Malaysian exporters’ efforts to grow their export footprint in South Asia. Currently, India and Bangladesh are Malaysia’s two largest trading partners in South Asia. In 2022, Malaysia’s total trade with India and Bangladesh reached RM86.22 billion and RM19.69 billion respectively.
The total trade between Malaysia and India for the period of January – September 2023 was worth RM56.51 billion. In that period, Malaysia exported RM34.18 billion to India while imports amounted to RM22.33 billion. The total trade between Malaysia and Bangladesh for the same period reached RM9.81 billion while exports and imports touched RM8.67 billion and RM1.14 billion respectively.
MATRADE will continue to promote and enhance exports of Malaysian products and services globally. Malaysian companies interested in exploring global opportunities are encouraged to contact MATRADE via email (This email address is being protected from spambots. You need JavaScript enabled to view it.) or through its social media platforms (Facebook, Twitter, Instagram & LinkedIn).
