INSP MCS Records RM512 Million Ringgit in Sales during Malaysia-China Summit 2024
KUALA LUMPUR, 23 DECEMBER 2024 (MONDAY): The Malaysia External Trade Development Corporation (MATRADE) proudly announces that the International Sourcing Programme (INSP), held during the Malaysia-China Summit 2024 (MCS 2024) from 17 to 19 December, has generated RM512 million in potential sales for Malaysian exporters.
The INSP successfully facilitated 398 business matching sessions, consisting of 393 physical meetings and 5 virtual meetings. These sessions connected approximately 200 Malaysian exporters with nearly 100 foreign buyers, with China emerging as the largest sourcing country, accounting for 73.8% of the total, followed by Thailand, Vietnam, Indonesia and Hungary. This impressive achievement showcases the robust demand for Malaysian products and services in international markets and highlights MATRADE's commitment to enhancing trade relations and expanding market access for local businesses.
En. Abu Bakar Yusof, the Deputy CEO of MATRADE, stated, “The remarkable sales generated through the INSP reflect the growing confidence international buyers have in Malaysian offerings. This platform not only creates immediate sales opportunities but also fosters long-term partnerships that are vital for our exporters' growth.”
The MCS 2024, themed “Prosperity Beyond 50” celebrated the 50th anniversary of diplomatic relations between Malaysia and China. The summit served as a dynamic platform for fostering trade and investment, featuring a diverse range of exhibitors and discussions focused around key sectors such as renewable energy, digital technology and advanced manufacturing.
The event received strong backing from sponsors including Huawei Technologies Malaysia and Petronas, further emphasising its significance in promoting bilateral trade.
“The INSP is a testament to MATRADE’s dedication to empowering Malaysian businesses through strategic international collaborations,” added En. Abu Bakar. “We look forward to building on this momentum and continuing to facilitate opportunities that benefit our local industries.”
