Inaugural Insp to Uplift Malaysia's Gold Jewellery Industry: A Collaboration Between MATRADE and PWGS
THURSDAY, 30 MAY 2024, KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) is collaborating with the Province Wellesley Gold & Silver Ornament Merchants Association (PWGS) to organise the International Sourcing Programme (INSP) in conjunction with the 2nd PWGS trade fair on 1 June, 2024, at the Setia SPICE Convention Centre in Penang.
Scheduled from 31 May to 2 June 2024, the PWGS trade fair anticipates the participation of approximately 50 exhibitors from Malaysia and abroad. Penang's gold and jewellery industry boasts a rich heritage spanning over a century, serving as a cornerstone of Malaysia's jewellery sector. PWGS aims to position Malaysia as a leading international jewellery hub, driving the Malaysian gold and jewellery industry forward and making Penang a meeting point for professionals and enthusiasts alike.
For the period of January to April 2024, Malaysian exports of jewellery grew by 30.5% to RM 2.83 billion, primarily to Singapore, United Arab Emirates, Thailand, Australia and Japan. According to MATRADE’s Chief Executive Officer, Datuk Mohd Mustafa Abdul Aziz, "As Malaysia's gold and jewellery sector continues to evolve by its highly innovative and creative craftsmanship and innovation, MATRADE is ramping up its efforts to promote the capability of Malaysian players by bringing international buyers to participate in this programme by leveraging its network of 49 overseas trade offices. Through initiatives like the INSP, MATRADE aims to facilitate Malaysian businesses into expanding their global footprints by establishing export deals with the buyers".
“The gold jewellery industry in Penang has a history of over 100 years. Starting from the 18th century, this ancient goldsmith industry has taken root and flourished, with about 400 small and medium factories and workshops operating in Penang. We aim for the PWGS Trade Fair 2024 to make Malaysia the centre of global gold and jewellery trade,” said Mr Law Chin Hooi, President of the PWGS.
The INSP is a tailored programme designed to connect local companies with international buyers in pre-arranged business meetings. MATRADE actively facilitates business opportunities and supports the growth and global reach of the Malaysian jewellery industry. MATRADE is dedicated to catalyse international trade and propelling Malaysian industry players towards new heights of success. Through initiatives such as the INSP, MATRADE is not only showcasing the exceptional products of Malaysian businesses but also cultivating lasting partnerships with global buyers, thereby cementing Malaysia's status as a pivotal player in the global trade.