Malaysia: MATRADE Confident Of Sales Of Up To RM500 Mln At INSP

KUALA LUMPUR: The Malaysia External Development Corporation (MATRADE) is confident sales of between RM480 million and RM500 million can be clinched during the two-day International Sourcing Programme (INSP) which ends today.

Strategic Planning Division Senior Director Wan Latiff Wan Musa
Strategic Planning Division Senior Director Wan Latiff Wan Musa

The target was higher than the RM443.2 million achieved at last year’s INSP and the optimism was based on the higher interest shown for Malaysia’s halal products, said Strategic Planning Division Senior Director Wan Latiff Wan Musa.

The continuous interest from Chinese buyers was also boosting the momentum further, he told reporters on the sidelines of the INSP here today.

The INSP was held in conjunction with the Malaysia International Halal Showcase 2016 (Mihas 2016) which begins tomorrow until April 2.

It served as a cost-effective vehicle for Malaysian companies to connect with international buyers and allowed them the opportunity to meet and discuss trade opportunities through a number of one-on-one pre-arranged business meetings coordinated by MATRADE

Wan Latiff said the heightened interest for Malaysia’s halal product was evident from the 391 foreign buyers who participated in the programme versus 307 last year.

He also said the interest was driven by the heightened awareness among non-Muslims in China, Japan and Korea.

“This year, we received the largest participation from China with 130 companies,” he said.

The event also received good response from ASEAN countries such as Thailand, Vietnam, Indonesia and the Philippines.

Mongolia, which was participating for the first time, brought a large group of 30 companies.

The event brought together about 600 Malaysian exporters to meet potential buyers from, among others, ASEAN nations, North East Asian region, Organisation of Islamic Cooperation countries and Europe.