MATRADE SECURES RM 250 MILLION IN SALES FROM EGYPT, LIBYA TRADE MISSION

KUALA LUMPUR: Malaysia’s Foreign Trade Development Corporation (MATRADE) trade mission to Egypt and Libya successfully generated sales reaching RM250 million involving more than 180 business meetings.

Berita Harian reports, the Export Acceleration Mission (EAM) to the North African region is led by MATRADE Chairman, Datuk Seri Reezal Merican Naina Merican and 10 Malaysian companies across various sectors, consisting of fast moving consumer goods (FMCG), building materials, machinery, energy renewables, oil and gas, medical devices, palm oil based products and services.

The MATRADE office in Cairo collaborates with leading chambers of commerce in Egypt and Libya in organizing business matches, market visits, engagements and networking sessions with local businesses.

In Egypt, Reezal Merican and representatives met with several counterparts and major importers to strengthen bilateral trade relations.

Among others are the Egypt – Malaysia Business Council (EMBC), the Egyptian Commercial Service (ECS), the Federation of Egyptian Chambers of Commerce (FEDCOC), the Federation of Egyptian Industry (FEI) and the Islamic Chamber of Commerce and Development (ICCD).

In Libya, he met with the Libyan Minister of Economy and Trade, Mohammed Al-Hwej; Libyan Export Promotion Center (LEPC), Libyan Union of Chambers of Commerce, Industry (GLUCC), Tripoli Chamber of Industry & Agriculture and Libya – Malaysian Joint Chamber of Commerce (LMBC).

Reezal Merican also met the President of the Supreme Council of Libya, Mohammed Takala.

Commenting on the trade mission, Reezal Merican said, the mission reflects the effectiveness of proactive engagement and strategic business cooperation in fostering trade relations and exploring new opportunities in the North African market.

“MATRADE continues to support the efforts of Malaysian exporters to expand their export footprint in this market,” he said.

Currently, Egypt and Libya are among Malaysia’s biggest trading partners in North Africa.

“Malaysian companies should take advantage of the increased demand for industrial and consumer products, arising from progressive economic growth in both countries.

“Last year, Malaysia’s total trade with Egypt and Libya reached RM3.35 billion and RM360 million respectively, thus showing a great opportunity to expand our exports to this market.

“Egyptian and Libyan companies are encouraged to take advantage of the upcoming Malaysia International Halal Exhibition (MIHAS) 2024 and MIHAS@Dubai to take advantage of the vast global halal market opportunities, especially in ASEAN, the Middle East and North Africa (MENA),” he said.