by TMR / pic credit: caexpo.org

THE Malaysia External Trade Development Corporation (MATRADE) has generated potential sales of RM572.01 mil at the 18th China-ASEAN Expo (CAEXPO) 2021.

MATRADE led the participation of 58 Malaysian companies, offering various Malaysian-made products and services where 2,574 business enquiries and more than 150 business meetings were arranged between Malaysian exhibitors with Chinese importers, distributors and wholesalers.

39 Malaysian companies participated in the physical trade fair while 19 other companies joined virtually.

The products and services featured at the expo involved food and beverages, health and wellness and lifestyle.

“CAEXPO 2021 continued to strengthen the partnership between MATRADE and its several collaborating partners including CAEXPO Secretariat, China Construction Bank (CCB), Oversea Prominent Brands (OPB) and local associations/chambers of commerce in arranging the business meetings during the event.

“In order to enhance Malaysia’s visibility by leveraging digital platforms, MATRADE introduced a live streaming session in the Malaysia pavilion for the first time. The session managed to attract more than 2 million viewers,” MATRADE said in a statement today.

Since 2009, China has been the largest trading partner for Malaysia for 12th consecutive years and accounted for 18.6% of Malaysia’s total trade in 2020.

Trade with China in 2020, was valued at RM331.44 bil, with a growth rate of 4.7%. Total export was recorded at RM159.22 bil, while total import was RM172.22 bil.

For the first seven months of 2021, Malaysia’s trade with China expanded by 29.8% to RM233.40 bil compared to the same period in 2020.

Exports rose by 21.2% to RM103.22 bil while imports from China increased by 37.6% to RM130.18 bil.