MATRADE Helped To Generate RM625.42 Million Trade Deal From Malaysia’s Participation At The 20th China – ASEAN EXPO
2 October 2023, KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) led a participation of 107 Malaysian companies and 9 other government agencies, occupying 116 booths at the recently concluded 20th China - ASEAN Expo (CAEXPO) 2023, which was held in Nanning, China from 16 – 19 September 2023.
Malaysia’s participation, regarded as one of largest in the event, ended with another resounding success, reporting an overall export sale worth RM625.42 million. The participation outlined impactful activities and programmes arranged by MATRADE which included livestreaming sessions with Key Opinion Leaders (KOL) and business meetings with established Chinese companies being clients to major Chinese banks. The recorded export sales are in food & beverage, healthcare & wellness, lifestyle products as well as services.
This year's buzz at Malaysia Pavilion was boasted with the launch by YAB Prime Minister, Datuk Seri Anwar Ibrahim. Also present at the launch were YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry, YB Nga Kor Ming, Minister of Housing and Local Government, YB Datuk Mohamad Bin Alamin, Deputy Minister of Foreign Affairs and YB Chan Foong Hin, Deputy Minister of Agriculture and Food Security.
The participation also witnessed the golden moments with ten Memorandums of Understanding (MOUs) signed and exchanged between Malaysian companies and Chinese corporations.
The 20th CAEXPO symbolises two pivotal milestones – the 20th anniversary of China-ASEAN strategic partnership and the inception of CAEXPO. Malaysia’s participation in the event this year also marked the 20th participation since 2004.
Malaysia’s participation was further strengthened with presence of key government agencies such as Ministry of Agriculture and Food Security (MAFS), Malaysia Investment Development Authority (MIDA), Education Malaysia (EM), Malaysian Palm Oil Board (MPOB), Department of Industrial Development and Research (DIDR Sabah), Northern Corridor Implementation Authority (NCIA), East Coast Economic Region Development Council (ECERDC), and PR1MA Corporation Malaysia. Meanwhile, Tourism Malaysia organised a series of colourful performances promoting Malaysia tourism at the City of Charm Hall.
Malaysia Pavilion represented a wide range of industries, including wellness, pharmaceuticals, personal care, Halal, and, most importantly, green and sustainable products / services. The wide sectoral engagement reflects the changes and needs brought about by China's massive population, consumer segments, high buying power, and lifestyle changes.
The participation in the 20th CAEXPO was carefully planned and strategized by MATRADE to ensure Malaysian brands are well promoted in China, given the fact that the 20th CAEXPO returned for the first time as a fully physical event after China opened its borders early this year. Series of activities prior to the exhibition as well as throughout the four days of the event were lined up. MATRADE coordinated online business matchings between Malaysian exhibitors and potential Chinese buyers, being clients of the China Construction Bank (CCB) prior to the event from 6 - 8 September 2023. More than 230 online business matchings were pre-arranged for Malaysian exhibitors through CCB’s digital matching platform known as CCB Matchplus.
During the 4 days of exhibition, promotion was enhanced with various activities at the Malaysia Pavilion, which included KOL livestreaming sessions attended by millions of Chinese viewers, products selection, media interviews, cooking demonstrations of our red palm oil as well as launching of the cross border QR payment to facilitate further business transactions between Malaysia and China enterprises.
Malaysia Pavilion also highlighted MATRADE’s illustrious 30th year of anniversary with 49 offices worldwide, the World Trade Promotion Organizations (WTPO) Award under the “Best Use of Information Technology”, Malaysia’s key industries as well as Malaysia – China Bilateral trade growth from the start of CAEXPO in 2004 until 2022.
Datuk Mohd Mustafa Abdul Aziz, CEO of MATRADE said that “China, being our largest trading partner, certainly remains as one of our most important export markets for Malaysian companies. As a result of MATRADE’s strategies and proactive efforts including in arranging impactful activities and business meetings, Malaysia’s participation in CAEXPO has secured significant value of export sales and business partnerships”.
The continued sourcing by the Chinese buyers demonstrates the quality, resilience and competitiveness of Malaysian products and services, rolling on the growth momentum of the trade dealings between Malaysia and China at CAEXPO for the past 20 years. MATRADE takes pride in its three decades of championing global excellence to continue focusing on enhancing the close engagement with the Chinese business communities in connecting them with Malaysian capable exporters in order to drive exports to China, added Datuk Mohd Mustafa.
For the period of 2004 – 2022, Malaysia’s trade with China expanded by almost sixfold. China was ranked as Malaysia’s 4th largest trading partner in 2004 and later moved up to be Malaysia’s largest trading partner in 2009 for 14 consecutive years, with an average annual Growth (AAG) of 12%. China also became Malaysia’s 2nd largest export market in 2022 and Malaysia’s largest import source since 2011.
