A MALAYSIAN trade delegation consisting of companies from the food, healthcare, and information and communications technology industries will visit the Philippines later this month.
In a statement, the Malaysia External Trade Development Corp. (MATRADE) said its Export Acceleration Mission will be in Manila between Aug. 22 and 26.
The event is organized by MATRADE, the Malaysian Ministry of Entrepreneur Development and Cooperatives, and SME Bank Malaysia.
“MATRADE through its Manila office will be coordinating over 100 one-to-one business meetings with leading importers and buyers. Complementing this, programs that have been arranged for the Malaysian companies include a Seminar on Doing Business with Malaysia, market visits and networking sessions with relevant authorities, associations and industry players,” it said.
“This is part of MATRADE’s efforts to familiarize Malaysian companies with rules and regulations on doing business in the Philippines,” it added.
MATRADE Trade Commissioner in Manila Intan Zalani said that the mission will help Malaysian firms establish a presence in the Philippine market and “expand key business relationships.”
“With a young and fast-growing population, the Philippines offers valuable prospects for Malaysian-made products and services that are synonymous with quality and compliance with international standards,” Ms. Zalani said.
According to MATRADE, the Philippines is the fifth-largest export destination of Malaysia within ASEAN, trailing Singapore, Thailand, Vietnam, and Indonesia.
“Between January and June 2022, Malaysia’s trade with the Philippines recorded double digit growth of 30.1% (to) $4.5 billion,” MATRADE said.
“Exports from Malaysia to the Philippines were also encouraging, increasing by 24% to $3.23 billion, while imports from the Philippines to Malaysia grew by 44.3% to $1.62 billion,” it added. — Revin Mikhael D. Ochave