Malaysian Companies Sealed RM250 Million Worth of Deals in MATRADE-Led Mission to Egypt and Libya
FRIDAY, 17 MAY 2024, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) continues to drive Malaysia’s exports to the North Africa region through an Export Acceleration Mission (EAM) to Egypt and Libya led by YB Dato’ Seri Reezal Merican Naina Merican, Chairman of MATRADE from 10 to 16 May 2024. This mission successfully generated total sales of RM250 million from more than 180 business meetings.
10 Malaysian companies across various sectors participated in this EAM comprised Fast-Moving Consumer Goods (FMCG), building materials, machinery, renewable energy, oil and gas, medical devices, palm oil based products and services. MATRADE’s office in Cairo collaborated with prominent Chambers of Commerce in Egypt and Libya in organising business matchings, market visits, engagement and networking sessions with local businesses.
In Egypt, YB Dato’ Seri Reezal Merican and delegates met with several counterparts and major importers to strengthen bilateral trade relations. Among others were Egypt – Malaysia Business Council (EMBC), Egyptian Commercial Services (ECS), Federation of Egyptians Chamber of Commerce (FEDCOC), Federation of Egyptian Industries (FEI) as well as Islamic Chamber of Commerce and Development (ICCD).
While in Libya, he met with the Hon. Mohammed Al-Hwej, Minister of Economy & Trade of Libya, Libyan Export Promotion Centre (LEPC), Libyan General Union of Chambers of Commerce, Industry and Agriculture (GLUCC), Chamber of Commerce Industry & Agriculture Tripoli and Libyan – Malaysian Joint Business Chamber (LMBC). He also had a meeting with the Hon. Mohammed Takala, President of High Council of State of Libya.
“This mission reflects the effectiveness of proactive engagements and strategic business collaborations in fostering trade relations and exploring new opportunities in North Africa market. MATRADE continues to support Malaysian exporters’ efforts to grow their export footprint in these markets. Currently, Egypt and Libya are among Malaysia’s largest trading partners in North Africa. Malaysian companies should capitalise on the increasing demand for industrial and consumer products, arising from the progressive economic growth in both countries. In 2023, Malaysia’s total trade with Egypt stands at RM3.35 billion and Libya reached RM0.36 billion respectively, showing immense opportunities to expand our export into these markets” said YB Dato’ Seri Reezal Merican.
“Egyptian and Libyan companies are encouraged to leverage on the upcoming Malaysia International Halal Showcase (MIHAS) 2024 and MIHAS@Dubai to tap into the vast global halal market opportunities, particularly in ASEAN, Middle East and North Africa (MENA)”, he continues.
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 () or through its social media platforms (Facebook, Twitter, Instagram, TikTok & LinkedIn).
