Expanding Business Collaborations in the Philippines
KUALA LUMPUR, 30 MAY 2014 (Friday) : Malaysia External Trade Development Corporation (MATRADE) recently organised a Specialised Marketing Mission (SMM) with the participation of 15 companies involved in the ICT, construction and building materials as well as business services, to The Philippines from 21 to 23 May 2014.
Malaysian companies discussed potential business and investments opportunities with their Philippines’ counterparts through pre-arranged business meetings, roundtable session with captains of industry as well as engagements with key project owners and industry associations. The business meetings arranged by MATRADE had successfully generated sales amounting to RM134 million.
During the mission, a partnership agreement was signed between IX Telecom Sdn Bhd, a Malaysian-based Global Virtual Network Operator (VNO) with Globe Telecom Inc. of Philippines, to provide telecommunications services to IX Telecom customers’ in the country. This partnership will enhance both companies’ coverage and services to meet the increasing demands for best of class end-to-end telecommunication solutions in The Philippines.
A briefing and consultation session was also arranged for Malaysian companies with Philippines’ regulators and investment authorities to provide insight into the business and investment opportunities in other regions of the country. Potential areas of collaboration identified for both countries were in sectors such as agriculture, rubber processing, plantation management, food processing, halal industry, healthcare, property development, construction and infrastructure projects.
Over the past five years, trade with Philippines has grown from RM10.96 billion to RM14.09 billion with increase in exports from RM6.96 billion to RM9.34 billion. In 2013, Malaysia’s main exports to The Philippines were electrical & electronic products, chemicals and chemical products, processed food, manufactures of metal as well as machinery and appliances. Main imports from The Philippines were electrical & electronic products, processed food, crude rubber, refined petroleum products and, chemicals and chemical products.
With the ASEAN Economic Community (AEC) coming into force in 2015, intra-ASEAN trade and investment is expected to increase, consequently creating a competitive and dynamic region. Malaysian companies are encouraged to participate in the export promotion programmes organised by MATRADE. Details of the events are available at the website at www.matrade.gov.my.
