MATRADE EYES RM650 MLN SALES AT CAEXPO 2019

GEORGE TOWN, April 22 (Bernama) -- The Malaysia External Trade Development Corporation (MATRADE) aims to record sales of RM650 million at the 16th China ASEAN Expo (Caexpo) 2019 in Nanning from Sept 20-23.

MATRADE director (China and Northeast Asia) Ong Yew Chee said in 2018, CAEXPO generated total sales of RM639.66 million, an increase of 58 per cent as compared to 2017.

"We are quite optimistic that the RM650 million sales target can be achieved this year, supported by strong demand from China for our products.

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"We are anticipating that the majority of the Malaysian sales will be coming from the health & wellness and food and beverages (F&B) sectors, which could contribute up to 80 per cent of the total sales number," he told reporters after the Promotional Conference Roadshow on the 16th CAEXPO 2019 here today.

The roadshow, which will also be held in Kota Kinabalu and Kuala Lumpur from April 22 to 24, aims to raise awareness on CAEXPO and how it has helped Malaysian small and medium enterprises (SMEs) to penetrate the huge China market.

He expressed hope Malaysian companies would take this opportunity to participate in CAEXPO to expand their business as 3,240 square metres of space had been dedicated for the Malaysia Pavilion.

Ong said MATRADE has always seen CAEXPO as an effective platform to promote Malaysia's exports and based on past records, the event has proven to be an effective avenue for Malaysian companies to expand their outreach in China.

"China has been our largest trading partner since 2009. lt is imperative for us to keep up this momentum by continuing to leverage on effective trade events in China such as CAEXPO," he said.

For the record, he said Malaysia's total trade with China increased 8.1 per cent to RM313.81 billion in 2018, compared to RM290.40 billion recorded in 2017.

"In the meantime, Malaysia's exports to China were valued at RM138.88 billion while imports were recorded at RM174.93 billion," he said.

Major exports to China comprised electrical and electronics products, petroleum products, chemicals and chemical products, liquefied natural gas (LNG) as well as metal products.

Meanwhile, Ong said this year, MATRADE will coordinate the participation of Malaysian SMEs in the F&B, health and wellness, halal and lifestyle sectors, as well as selected services such as education, tourism, medical tourism and logistics at this iconic event.

He also urged Malaysia companies keen on joining CAEXPO 2019 to register themselves before the closing date of June 7.

CAEXPO is a major trade event sponsored by the governments of China and the ASEAN countries with the aim of promoting the China-ASEAN Free Trade Agreement and business opportunities under the Belt and Road initiative, mainly in trade, investment and tourism.

-- BERNAMA