Africa Business Day Congregates Malaysian and African Business Community in Kuala Lumpur
MONDAY, OCTOBER 31, 2016, KUALA LUMPUR: In an effort to boost business relationship with Africa, Ministry of International Trade & Industry (MITI) along with its agencies, Malaysia External Trade Development Corporation (MATRADE) and Malaysian Investment Development Authority (MIDA), organised the inaugural Africa Day at Menara MITI.
The 2-day event which kick starts today, is supported by the African High Commissions and African Embassies in Malaysia, Malaysia African Professional and Entrepreneurs Association (MAPE) as well as Limkokwing University. The Africa Day is testament to the Government’s initiative in organising more Public-Private Partnership programmes, in line with the principles of National Blue Ocean Strategy.
The key features of the Africa Day include business seminar, workshops, one-to-one business meetings, table-top exhibition, industry visits and networking session.
The objectives of the event are to enhance the awareness on business opportunities in Malaysia and Africa; to promote the exports and imports of both Malaysian and African products and services as well as to ramp up the promotion of Malaysian investments in Africa and African investments in Malaysia.
During the event, MATRADE coordinated business meetings for Malaysian exporters with over 40 African companies who are keen to source from Malaysia. Among the main topics covered at the workshops are on Construction & Infrastructure, Agribusiness, and Healthcare & Medical Tourism. Complementing these are industry visits aimed at updating the African delegations on Malaysia’s various capabilities in products and services.
A total of 573 participants from 428 organisations have participated in the event. Over 194 participants are from the African Embassies and Missions, Trade Associations and African companies based in Malaysia and from Africa. 10 African countries namely Gambia, Ghana, Kenya, Lesotho, Senegal, Somalia, South Africa, Sudan, Tunisia and Uganda have sent their business delegations to attend the event.
Malaysia’s trade with Africa has been showing remarkable expansion over the years. In 2006, the trade recorded was a mere RM12.02 billion and last year the number increased to RM30.1 billion. The increment recorded an average annual growth rate of 10.6 per cent and among Malaysia’s top trading partners from Africa were South Africa, Egypt, Nigeria and Angola.
Main products exported to Africa in 2015 were palm oil and palm oil based products, petroleum products, chemicals & chemical products, processed food and machinery, appliances & parts. Meanwhile, Malaysia’s main imports from Africa were LNG, petroleum products, crude petroleum, manufactures of metal, metalliferous ores and metal scrap. Apart from trade in goods, services that Malaysian companies have exported to Africa include construction and professional services, energy and power generation, environment management services, oil and gas, ICT services and education.
The Government of Malaysia through MITI and its agencies are pushing for greater bilateral trade with the African countries. This year, over 8 trade promotional programmes focusing on the African countries namely Export Acceleration Mission, capacity building programmes and trade talk have been lined up.
The African continent with 54 countries is home to more than one billion people. With its vast market potential, rich natural resources, improved infrastructure and stable economy, the African countries are key markets for Malaysia. Malaysian companies keen to explore Africa are urged to contact MITI, MATRADE and MIDA for market intelligence in exporting or investing.
