Malaysian Firms Rake In RM344.58 Mln Potential Sales In London

KUALA LUMPUR, Oct 5 (Bernama) — Malaysian companies have generated potential sales worth RM344.58 million at the Malaysia External Trade Development Corporation’s (MATRADE) Source Malaysia Programme in London from Sept 26-27, 2016.

A total of 81 Malaysian companies from various sectors, namely building materials; food and beverage; lifestyle, personal care and cosmetics; automotive; packaging and business services took part in the programme, MATRADE said in a statement today.

It said the event, which is a component of Malaysia showcase called ‘Choose Malaysia’, was aimed at providing a platform for Malaysian companies to meet potential business partners in the United Kingdom (UK) via pre-arranged one-on-one business meetings.

During the event, there was an exchange of a memorandum of understanding between the Small and Medium Enterprises (SMEs) International Trade Association (SMITA) and Finpoint Limited with a 100 million fund to assist the SMEs access markets in the UK, Europe and the Middle East.

“The UK and Malaysia has long established strong business connections and we need to sustain this relationship for the benefit of both nations.

“Malaysian companies must continue to establish strategic partnerships with the UK business community and leverage on the opportunities available under the first mover advantage following the announcement of Brexit,” said MATRADE Market Access Senior Director, Aureen Jean Nonis.

In 2015, Malaysia’s total trade with the UK increased by 9.4 per cent to RM16.45 billion, with exports expanding by 17.6 per cent to RM9.32 billion while imports was worth RM7.13 billion, making it Malaysia’s 17th largest trading partner.

Meanwhile, MATRADE said following London, the Choose Malaysia campaign will take place in Shanghai and Sydney in November and December, respectively.

Malaysian companies keen to know more on the event can send email to communication@matrade.gov.my.

— BERNAMA

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