MATRADE to Strengthen Malaysia's Presence In Azerbaijan, Kazakhstan

KUALA LUMPUR, Sept 25 (Bernama) -- The Malaysia External Trade Development Corporation (MATRADE) is spearheading a trade mission through its signature Export Acceleration Mission (EAM) to promote Malaysian oil, gas and energy capabilities in Central Asian and Caspian region next week. The mission coincides with the Kazakhstan International Oil and Gas Exhibition (KIOGE) 2018 in Baku, Azerbaijan from Sept 24–26, and in Almaty, Kazakhstan from Sept 26 – 28, said the national trade promotion agency in a statement here. Some 15 Malaysian companies, representing both products and services from various industrial segments such as radiation services, system integration services, engineering services as well as pipeline systems and equipment, are participating in the mission. MATRADE Deputy Chief Executive Officer Wan Latiff Wan Musa said KIOGE 2018 would present an ideal platform for Malaysian companies to enhance their business networking opportunities given that it is the largest oil, gas and energy trade exhibition in the Central Asian region. His optimism for a good outcome was well-grounded, based on the fact that the agency had previously organised a similar initiative in 2015, during which 10 Malaysian companies reported sales of US$208.22 million (RM860.98 million, US$1 = RM4.13), said the statement. Apart from customised pre-arranged business meeting sessions, Malaysian companies will also participate in roundtable discussions with industry leaders in Azerbaijan and Kazakhstan. In addition, the participants will also attend business briefings on potential markets in Central Asia and explore specific industry sectors through engagement with potential clients in both cities. “We are confident that both merchandise goods and services, especially for the services sector related to the oil and gas industry as Azerbaijan, Kazakhstan and the neighbouring countries will grow tremendously, said Wan Latiff. Both Azerbaijan and Kazakhstan had recently agreed in principle to collectively delineate their maritime borders in the Caspian Sea, thus, potentially opening the way for a massive oil and gas exploration, he added. In 2017, trade between Malaysia and Azerbaijan recorded a substantial growth of 46.9 per cent to RM52.4 million compared with RM35.7 million in 2016. Total trade with Kazakhstan showed an even stronger growth of 65.8 per cent to RM337.6 million from RM203.6 million in 2016. -- BERNAMA