KUALA LUMPUR, Dec 2 -- The Malaysia External Trade Development Corporation (Matrade) Export Acceleration Mission (EAM) to Dhaka, Bangladesh, will promote Malaysian capabilities in the chemicals and chemical products sector.
Malaysian companies concerned will be pitching their high quality chemical products to Bangladeshi counterparts keen to source for agrochemicals namely pesticides, as well as detergents, acrylic materials, optical solar film, environmental protection services, industrial chemicals, waste management-related chemicals as well as logistic services.
“Rising industrialisation in Bangladesh has tremendously increased demand for chemicals and its trade.
"As the national trade promotion agency, we want to tap this opportunity, as well as facilitate our exporters. Participants on this mission can secure a strong footing in this growing market,” said Matrade's director of the Oil & Gas, Chemical and Energy Section, S Jai Shankar, in a statement today.
The three-day mission will include pre-arranged business meetings between Malaysian companies with potential buyers, as well as a roundtable meeting and networking session with the Bangladesh – Malaysia Chambers of Commerce and Industry (BMCCI), Malaysian companies in Bangladesh, and the Bangladesh customs/port authority.
Based on statistics by Bangladesh Bank, Bangladesh imported nearly US$2.06 billion worth of chemicals in 2017 – 2018, which is a stark comparison to the same period 10 years earlier, at only US$718 million.
The textile and apparel sectors, valued at US$30 billion, are some of the major buyers of imported chemicals, used for dying and washing fabrics.
Apart from that, chemicals are also used in the pharmaceuticals and food processing industries.
In 2018, Malaysia's export of chemicals to Bangladesh increased by 0.7 per cent, valued at RM564.9 million.
The major exported chemical products were plastics, organic chemicals, miscellaneous chemical products, tanning, dye, paint, putty and inorganic chemicals.
Malaysian companies keen to export to Bangladesh or any other South Asian market, are urged to contact MATRADE’s Trade Office in Chennai and Mumbia via email at firstname.lastname@example.org or email@example.com respectively.