BUSINESS

MATRADE’S MISSION TO EGYPT NETS US$23.36 MILLION IN SALES

04/11/2019 03:24 PM

KUALA LUMPUR, Nov 4 -- The recent week-long Export Acceleration Mission (EAM) in Cairo, Egypt organised by Malaysia External Trade Development Corporation (MATRADE) to promote Malaysian products and services has successfully generated sales amounting to US$23.36 million.

MATRADE Trade Commissioner in Jeddah Yusram Yusup who headed the mission said, more importantly, the EAM has achieved its aim of exploring business ventures as well as providing a platform for Malaysian companies to promote their “Made in Malaysia” brands in the region.

“A total of 145 business meetings were arranged between Malaysian companies and potential Egyptian partners. We received lots of good feedback from Egyptian companies towards Malaysian products & services,” he said in a statement made available to Bernama here today.

A total of 12 Malaysian companies from four sectors, namely palm oil and palm oil-based products, food and beverages, construction and renewable energy and chemical and chemical products took part in the EAM.

Apart from business meetings and networking session, the Malaysian and Egyptian companies also participated in a forum and seminar to provide the latest updates on trade and investment opportunities between both countries.

The meeting and networking session was organised by MATRADE in collaboration with local trade and business associations such as with Egyptian Businessmen’s Association (EBA), The ASIA-Egypt Business Association (AEBA), General Authority for Investment and Financial Regulatory Authority (GAFI) and Cairo Chamber of Commerce.

Malaysian companies also got the opportunity to visit local importers, distributors and retailers to get a better understanding of the product requirements and certifications, pricing structure and specific demand from local companies, said Yusram.

A participant, Bernard Lim, director of BCC Ban Chuan Sdn Bhd, said MATRADE has done an impressive job in acting as a gateway to introduce Malaysian companies to overseas market, adding that “We managed to forge good contacts with some potential distributors in Egypt.”

Managing director of Metal Dot Machinery Sdn Bhd M.K. Loganathan said he received some serious enquiries for his company’s metal products from local Egyptian companies interested to source the products from Malaysia and would further follow up as soon as the details were finalised.

Meanwhile, Pumar Marketing Sdn Bhd chief executive officer (CEO) Norazam Kamisan said his solar-based company sees the demand for solar technology is booming in Egypt and looking forward to having a long presence in the market.

Malaysian ambassador to Egypt Mohd Haniff Abd Rahman in his opening remarks during the business forum said EAM has certainly provided the market potential for Malaysian products and services due to the country’s huge domestic market.

Egypt he said, could become a gateway to the surrounding markets such as the European Union and Middle East and North African (MENA) countries which could open up a bigger market for Malaysian products and services.

Purity International Sdn Bhd CEO Mohd Zaidi Ismail said as a newcomer to the market, he needs to pay attention to the regulations and find the right partner, which he managed to do during the EAM.

“Through the meetings and engagement with local companies, we were also able to identify some good prospects that are interested to collaborate with us,” he added.

Malaysia’s total trade with Egypt from January until August this year amounted to RM1.58 billion with exports stood at RM1.30 billion while imports totalled RM284.3 million.

-- BERNAMA


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy