Malaysia External Trade Development Corporation (MATRADE), Malaysia’s National Trade Promotion Agency is spearheading Export Acceleration Mission (EAM) to Mumbai, India from 30 Oct to 1 Nov 2023. The objective of the programme is to provide a networking platform as well as to build a business partnership between Malaysian and Indian business community.
The Export Acceleration Mission (EAM) is initiated by MATRADE in order to link Malaysian companies with foreign partners as well as encourage them to explore trade opportunities aboard. MATRADE will also organize the Export Acceleration Mission (EAM) to Chennai from 1 – 3 Nov 2023.
A total of nineteen (19) Malaysian companies under MATRADE from sectors such as food & beverage, IT business solutions, pharmaceuticals, oil & gas, services will be participating in the mission which aims to boost exports of Malaysian products and services in Maharashtra State and India generally.
During the mission, MATRADE through its Mumbai office will be coordinating business meetings with leading importers and buyers. Complementing this, programmes that have been arranged for the Malaysian companies include briefing on export opportunities in India by MATRADE Trade Consul in Mumbai and sharing experience on doing business in India from relevant association. Among programmes planned during the mission includes business meetings, visit and networking session. MATRADE encourages Indian businesses to meet with Malaysian companies to explore potential business opportunities.
According to Mr. Norman Dzulkarnain Nasri, Trade Consul (MATRADE), Consulate General of Malaysia in Mumbai, the trade relation between Malaysia and India always in good relations and has been a strong partner in India’s growth story over the last few years. India is the 11th largest trading partner for Malaysia. In 2023 (Jan-Sept), the total trade between Malaysia and India amounted USD12.51 billion with the top trading products were Palm Oil & Palm Oil Based Agriculture Products, Electrical & electronic product, Chemicals & chemical product, Manufactures of Metal and Crude Petroleum.
The Trade Consul of MATRADE said that the country has always been a very important market and Malaysia’s biggest trading partner in South Asia. In 2022, with two free trade agreements already implemented, ie. MICECA and AIFTA, Malaysia – India trade relations has grown rapidly from US$ 15.57 billion in 2018 to US$ 19.61 billion in 2022. Both countries are benefiting from the free trade agreement.
He also added that Malaysia and India can complement each other in terms of its trade engagements especially on trade agreements. Potential products that Malaysian company can explore in India are Fast Moving Consumer Goods (FMCG), Halal,
Processed Food, Healthy Products, Ready-to-eat Food, Medical Products, Medical related products, Pharmaceutical, Lifestyle Products, many others.
The Trade Section (MATRADE), Consulate General of Malaysia encourages Indian and Malaysian companies to leverage at their office in Mumbai. MATRADE also has another office in Chennai covers Southern and Eastern India.