MATRADE Aims To Garner US$81.5 Mln Sales At CAEXPO

KUALA LUMPUR, Aug 10 (Bernama) -- The Malaysia External Trade Development Corporation (MATRADE) aims to garner US$81.54 million (RM350 million) in sales at the 14th China ASEAN Expo (CAEXPO) 2017 from Sept 12 to 15, 2017. Its Deputy Chief Executive Officer, Wan Latif Wan Musa said in 2016, CAEXPO generated total sales of US$76.79 million (RM329.6 million), a 54 per cent increase from US$49.86 million (RM214 million) in 2015. (US$1=RM4.29) "Even though the target is quite high, we are optimistic that the 172 Malaysian companies participating in CAEXPO will be able to achieve the target due to the strong demand from China," he told reporters at CAEXPO pre-departure briefing here Thursday. MATRADE will be spearheading the participating Malaysian companies that will occupy 179 booths at the CAEXPO 2017 at the Nanning International Convention and Exhibition Centre, Guangxi Province, China. The Malaysian companies, made up of small and medium enterprises (SMEs), will be showcasing Made-in-Malaysia products and services in various sectors ranging from the food and beverages to health and wellness, lifestyle and services. "MATRADE has always seen CAEXPO as an effective platform to promote Malaysia's exports and based on past records, the event has proven to be an effective avenue for Malaysian companies to expand their outreach in China. "China has been our largest trading partner since 2009. lt is imperative for us to keep up this momentum by continuing to leverage effective trade events in China such as CAEXPO," Wan Latif said. Malaysia's total trade with China grew 4.4 per cent to RM240.91 billion in 2016 from RM230.89 billion in 2015. Malaysia's exports to China in 2016 were valued at RM98.56 billion while imports were RM142.35 billion. However, trade with China in the first half of 2017 expanded 41.2 per cent to RM59.79 billion. Higher exports were registered for products like electrical and electronics, petroleum products, chemicals and chemical products, rubber, as well as metalliferous ores and metal scrap. Besides bringing Malaysian companies to CAEXPO, MATRADE will be signing a Memorandum of Understanding (MoU) with state-owned China Post. Through the MoU, China Post will be introducing an online Malaysia Pavilion on its e-Marketplace platform called ule.com, which would feature Malaysian products at all China Post stores in the Guangxi Province. China Post has 600,000 stores nationwide and 93 stores in the Guangxi Province. The strategic collaboration is set to further enhance the presence of Malaysian products on China's eCommerce platforms. -- BERNAMA