Matrade events in Bangladesh, India generate RM145 million worth of sales

NEW DELHI: Malaysian companies taking part in two trade promotion missions to Bangladesh and India this month secured sales deals worth RM145 million.

The deals were negotiated during the business meetings arranged for the Malaysian companies in Dhaka and New Delhi, Malaysia External Trade Development Corporation (Matrade) officials in India told Bernama.

“The response our delegation received in Bangladesh was very encouraging. Fourteen companies dealing in consumer products, furnitureandconstructionmaterials participated in the November 11-12 mission and they reported RM124 million in potential sales,” Chennaibased Trade Commissioner Muzzafar Shah Hanafi said.

He said Malaysian-made products were rated highly in Bangladesh and people were familiar with many brands because of strong travel and trade links between the two countries.

“Malaysia enjoys a good branding in Bangladesh. We see strong potential for growing exports of processed food, healthcare products, halal cosmetics, automotive parts and building materials,” Muzaffar said.

In South Asia, India remained the top destination for Malaysian products as trade relations have grown significantly following the Malaysia- India Comprehensive Economic Agreement (MICECA) and the Asean-India Free Trade Area (AIFTA) deal.

India is Malaysia’s seventh largest export destination and its 10th biggest trading partner.

Malaysian exports to India grew 12.3 per cent to RM27.37 billion during the first nine months of 2018 compared with the corresponding period last year.

“There is significant interest among Indian importers in sourcing Malaysian products and services in sectors such as food, cosmetics, industrial lubricants and furniture.

“Indian companies have also shown interest in importing industrial machinery and technology for local manufacturing,” said the Trade Commissioner in Mumbai Mohd Feisal Ezuan.

Matrade hoped Malaysian companies would increase their efforts to identify new opportunities for business expansion in India’s large market.

“The objective of our Export Acceleration Mission was to strengthen our relations with Indian companies, besides providing Malaysian companies a platform to explore new areas for boosting exports. — Bernama