Malaysia’s national trade promotion agency, The Malaysia External Trade Development Corporation (MATRADE) held its two days marketing promotion and sales in Kuwait headed by Mazlan Harun, Deputy Trade Commissioner and his team. The delegation met with local businessmen involved in maritime products and services and discussed possible joint ventures, sales and production.
MATRADE primary role is to assist Malaysian exporters to develop and expand their export markets and provides wide range of services and assistance to both Malaysian exporters and foreign importers sourcing for trade related information. The Malaysian delegation was comprised of three reputable and well known organizations namely; Boustead Penang Shipyard Sdn Bhd, a ship building and repair company, Netherlands Maritime Institute Of Technology that provides education, training and Maritime consultancy provider and Malaysian Industry Government Group for High Technology (MIGHT), the Malaysian think tank for high technology industries. The mission's objectives are to promote Malaysia's maritime capabilities and strengthen relationship among maritime business communities of both countries.
Malaysia’s maritime industry can be divided into three main activities namely shipyard industry, marine leisure and support services. Structurally, the shipyard industry serves the shipping industry in terms of building and supplying new vessels and maintaining existing vessels operated or owned by ship-owners. In ensuring the safety of maritime operations as well as seaworthiness, the Malaysian shipping and shipbuilding andship repair activities are regulated in accordance with the international standards and the local regulations.
Harun said that Malaysia is well known as an industrialized nation and producer of quality products. Hence, this mission will enable the Kuwaiti businesses to better understand the capabilities of Malaysian companies in the maritime sector and will certainly create more interest among the Kuwaiti companies to do business with Malaysia. In 2012, bilateral trade between Malaysia and Kuwait stood at RM 3,391.50 billion which established Kuwait as Malaysia's sixth largest trading partner in the West Asia region. Malaysia’s exports to Kuwait stood at RM 650.6 million in 2012. Bulk of Malaysian exports to Kuwait includes: machinery, appliances & parts, wood products, electrical & electronic products, palm oil and processed food.
Although the volume and value of trade between the two countries is on the upward trend, MATRADE sees there are still tremendous potentials to further increase the bilateral trade and for businesses from both countries to explore business opportunities together.
- Ricky Laxa