Malaysian firms to explore more trade with PH

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Twelve Malaysian companies from food and beverages, healthcare and information and communication technology sectors will explore opportunities for trade in the Philippines at the Export Acceleration Mission (EAM) in Manila this month.

The EAM is a collaboration between the Malaysia External Trade Development Corp. (MATRADE), Ministry of Entrepreneur Development and Cooperatives (MEDAC) Malaysia and SME Bank Malaysia.

During the mission which will be held from August 22 to 26, over 100 one-to-one business meetings with leading importers and buyers will be conducted. Activities arranged for the Malaysian companies include Seminar on Doing Business with Malaysia, market visits and networking sessions with relevant authorities, associations and industry players.

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EAM is part of MATRADE’s efforts to familiarize the Malaysian companies with rules and regulations on doing business in the Philippines.

“This mission will provide an enormous opportunity for Malaysian companies to establish their presence in the Philippines’ market and expand key business relationships. With young and fast-growing population, the Philippines offer valuable prospects for Malaysian-made products and services that are synonymous with quality and compliance with international standards,” said Intan Zalani, MATRADE trade commissioner in Manila.

Within Asean, the Philippines is the fifth largest export destination for Malaysia after Singapore, Thailand, Vietnam and Indonesia.

In the first half of the year, Malaysia’s trade with the Philippines grew 30 percent to $4.5 billion. Exports from Malaysia to the Philippines rose 24 percent to $3.23 billion while imports from Philippines to Malaysia grew by 44.3 per cent to $1.62 billion.

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