Malaysian Companies Made Their Expert Debut at CASTPP
THURSDAY, AUGUST 24, 2017, KUALA LUMPUR: Malaysia External Trade Development Corporation’s (MATRADE) tripartite Memorandum of Understanding (MoU) that was signed last year with Guangxi Qinzhou Free Trade Port Area Administration Committee and Industrial and Commercial Bank of China Malaysia, on the establishment of the ChinaASEAN SME Trade Promotion Platform (CASTPP), has borne a fruitful result with the arrival of the first container of Malaysian products that was sourced at CASTPP.
The export order was made to five Malaysian Small and Medium Enterprises (SMEs) from Selangor, Kedah, Penang and Sarawak and is valued at around RM200,000. Although the value was relatively moderate, it marked a good start on the entry of more Malaysian products through the platform and is proof to the effectiveness of the CASTPP. The products include sports drinks, juices, confectioneries and premix coffee.
The CASTPP was an outcome of Malaysia’s participation in China-ASEAN Expo 2016 and is considered an effort under the Belt and Road Initiative. The trade facilitation and sourcing platform provides offline and online services for ASEAN companies, particularly SMEs, to ease their access into the Chinese market, ultimately bridging them with potential partners from China. The CASTPP also focuses on supporting the SMEs in activities such as licensing, customs clearance, financial service, direct purchasing and many more. In addition, the platform facilitates economic and trade cooperation through promotion at international trade exhibitions. The CASTPP is an ideal platform for Malaysian companies especially new exporters as it provides an avenue for them to position their brand presence in China by leveraging on the Guangxi province. Moving forward, MATRADE and China-ASEAN Panorama Magazine Agency (CASTPP’s operating partner in Malaysia) will be organising a conference cum business matching in October 2017.
During the event set to take place in MATRADE, 30 China’s companies who comprise franchisors, chain stores and flagship stores owners in Guangxi province will participate and will be meeting selected Malaysian companies.
According to MATRADE’s Chief Executive Officer, Ir Dr Mohd Shahreen Zainooreen Madros, the collaboration that was realised from the MoU is beneficial for Malaysian exporters. “The CASTPP will definitely help Malaysian companies to do business in China as it is a one-stopplatform to facilitate and overcome China’s strict quarantine checks and at the same time allow them to showcase their brands for international sourcing too,†he said.
The CASTPP is hoped to accelerate Malaysia’s exports to China and boost the trade performance between the two nations. In the first half of 2017, trade with China expanded by 28% to RM139.32 billion. Exports to China surged by 41.2% to RM59.79 billion, due to higher exports of Electrical & Electronics products, petroleum products, chemicals and chemical products, rubber products as well as LNG. Imports from China increased by 19.6% to RM79.53 billion.
Malaysian companies keen to find out more about CASTPP are advised to contact MATRADE by emailing to Alamat emel ini dilindungi dari Spambot. Anda perlu hidupkan JavaScript untuk melihatnya. .
