KUALA LUMPUR, Nov 24 — The Malaysia External Trade Development Corporation (Matrade) is exploring export opportunities for chemicals and chemical products in Vietnam and Cambodia.
In a statement today, the trade promotion agency said it aimed to capitalise on the booming demand for industrial processing, manufacturing activities and chemical-based consumer products.
As such, Matrade is organising an export acceleration mission to Ho Chi Minh and Phnom Penh on November 26-30, involving 15 Malaysian companies.
Among other things, the five-day mission will include pre-arranged business matching sessions between Malaysian companies and potential clients as well as visits to the related associations and retailers.
“We hope through this mission, participants will be able to secure potential business leads and strengthen Malaysia’s position as Vietnam and Cambodia’s preferred suppliers for chemicals and chemical products,” said Matrade Oil and Gas, Chemical and Energy Section Deputy Director Wan Azhamuddin Jusoh.
There are huge opportunities for chemicals and chemical products in Vietnam, as the country received more than US$35 billion worth of foreign investment in 2017, creating a high demand for industrial chemicals to support industrial processing and manufacturing activities.
In 2017, Malaysia’s total trade with Vietnam for chemicals and chemical products grew by 21.1 per cent to RM4.36 billion compared to the previous year.
Total exports of chemicals and chemical products to the country rose by 22.1 per cent to RM3.69 billion in 2017, the agency said.
Meanwhile, Malaysia’s total trade with Cambodia for chemicals and chemical products rose 25.6 per cent to RM87.6 million between 2016 and 2017, while exports of the products to Cambodia increased by 24.5 per cent to RM85.3 million, it added. — Bernama