Step Up Exports Of Malaysian-Made Beauty Products, Says MATRADE

KUALA LUMPUR, Nov 7 (Bernama) -- The export of Malaysian-made cosmetics and beauty products should be stepped up to China, given the high demand for such products in a market of 1.4 billion people, says Malaysia External Trade Development Corporation (MATRADE). In the first eight months of 2017, cosmetics and beauty products accounted for 37 per cent of the country's lifestyle exports against 26 per cent recorded in the corresponding period in 2016. Abu Bakar Yusof, Lifestyle, Life Sciences and Medical Devices and Pharmaceutical Exports Promotion and Market Access Division Director said the export of Malaysian cosmetics and beauty products to China was meagre. In 2016, Malaysia exported RM7.6 million (US$1 = RM4.23) worth of cosmetics to China which accounted for 0.6 per cent of the country's total exports of such products, he told reporters after a seminar on 'Connect with China's Beauty Market' jointly organised by MATRADE, Informa Exhibitions and the Federation of Malaysian Manufacturers here Monday. Calling on Malaysian cosmetics and beauty manufacturers to venture into China and profit from the booming demand there, Abu Bakar urged them to participate in the China Beauty Expo (CBE) in Shanghai from May 22-24, 2018. "As China is a big market for beauty products from Malaysia, local manufacturers and entrepreneurs should leverage on the growing demand there by participating in international exhibitions such as CBE. "This will also help to increase Malaysia's lifestyle exports to China next year, especially that of beauty and cosmetics products," he added. Abu Bakar said Malaysia's total exports of cosmetics stood at RM796.9 million in the first eight months of this year. "In 2016, Malaysia's total exports of cosmetics amounted to RM1.25 billion, an increase of 1.4 per cent compared with 2015. "Major exports included cosmetics and make-up, valued at RM513 million, followed by toiletries (RM374.6 million) and hair care products (RM169.6 million)," he added. MATRADE) is Malaysia's national trade promotion agency under the Ministry of International Trade and Industry (MITI). -- BERNAMA