Malaysia generates RM10.2m from Asean Trade Fair 2022

by AUFA MARDHIAH / pic source: Matrade HQ FB

MALAYSIA has brought home US$2.31 million (RM10.19 million) in total sales from the Asean Trade Fair 2022 in conjunction with Seoul Food and Hotel 2022 in South Korea.

It was organised by Asean-Korea Centre and coordinated by the Malaysia External Trade Development Corp (Matrade) from June 7 to 10, 2022. 

The five Malaysian companies that participated in the event were Abrand Food Manufacturing Sdn Bhd, Basefood Sdn Bhd, Ganda Kota Sdn Bhd, Jad Solutions Sdn Bhd and Malex Paper Products Sdn Bhd.

Arrays of Malaysian products were presented such as prebiotic gut health drinks, vegan products, low or zero-calorie sweeteners, coconut chunks, vegan meat from jackfruit, as well as paper cups and containers.

Matrade Seoul trade commissioner Norharliza Mohd Yunos said Malaysia’s participation in the event was timely in order to explore new export opportunities as the country gradually recovers from the pandemic.

“This event is an excellent platform for Malaysian food and beverage F&B) companies to penetrate the market, leveraging on the attendance of high-profile and quality Korean F&B market players looking for new business opportunities.

“Our participation manifested Matrade’s continued commitment to highlighting the strengths and capabilities of the Malaysian F&B sector, offering opportunities for capable and export-ready small and medium enterprises to expand brand presence and establish partnerships in South Korea. 

“Furthermore, the demand for local F&B products is growing in South Korea,” she said in a statement today.

As a result, nine Korean buyers were successfully recruited to meet potential partners in the International Sourcing Programme which will be in conjunction with the 18th Malaysia International Halal Showcase 2022 on Sept 7 to 10 in Kuala Lumpur.

F&B importer and distributor Young Heung Groceries Co Ltd’s MD Young Heung Lee said it is a good opportunity for Malaysian companies to promote probiotic health drinks and zero sugar sweeteners that can meet the demand of five million diabetics in South Korea.

“We are interested in exploring business opportunities with these Malaysian companies,” he said.

The Ministry of Food and Drug Safety of South Korea reported that the F&B market size in the country was valued at US$131.41 billion in 2020 which was 2.1% up from 2019. 

Malaysia was also the second-largest import source for confectionery and biscuits for South Korea in 2021 which amounted to US$59.5 million, as well as South Korea’s second-largest palm oil import source valued at US$290 million.