Malaysia seeks more trade ties with Philippines

MALAYSIA is strengthening its position to be among the top Philippines’ foreign investor and trading partner within ASEAN. Malaysian companies will further explore partnerships with Mindanao-based businessmen through the in-coming mission to Davao this coming Nov 18 to 20, 2019, where the program highlights include Malaysia-Philippines Business Forum and B2B meetings, which will be held at the Marco Polo Hotel in Davao City on Nov 20.

Malaysia Trade Commissioner based in Manila, Siti Azlina said that her office MATRADE has been actively pursuing opportunities in the Philippines especially in fast moving consumer

goods (FMCG), construction and building materials as well as ICT and logistics services. ‘Given Mindanao’s strength in the agricultural sector and its abundance of natural resources, Malaysia would be interested to explore collaboration in this area and see where we can complement our manufacturing base’, added the Trade Commissioner.

Malaysia External Trade Development Corporation (MATRADE), the national trade promotion agency, is the main organiser of the Business Forum and in cooperation with the Davao City Chamber of Commerce and Industry, have identified the five areas for potential businesses - food and beverage, personal and health care products, construction and building materials, information and communication technology and logistics services.

Thirty-eight Malaysian companies will be meeting with business leaders in Davao City, in which program include market briefings and cluster visit to relevant prospectus partners. Malaysia-Philippines Business Forum” on Nov. 20 is the highlight of the event. It will be graced by Malaysian Ambassador to the Philippines and President of Davao Chamber of Commerce and Industry Inc.

Malaysia’s exports to the Philippines from January to June 2019 grew by 8 percent or US$2.17 billion dollars compared with the same period last year. Malaysia’s top exports are electrical and electronic products, palm oil and palm oilbased products and petroleum distillates.

On the other hand, the Philippine imports grew by nearly 2 percent or US$1.10 billion from January to June 2019. It likewise imports electronic products and machinery.