KUALA LUMPUR: Malaysian companies are set to explore export opportunities for chemicals and chemical products in Vietnam and Cambodia through Malaysia External Trade Development Corp signature export promotion programme, Export Acceleration Mission.
The EAM will take place in Ho Chi Minh and Phnom Penh from November 26-30.
The initiative would capitalise on the booming demand for industrial processing, manufacturing activities and chemical-based consumer products in the two emerging Asean markets, Maytrade said in a statement on Saturday.
The five-day mission involving 15 Malaysian companies will feature pre-arranged business meetings with potential clients, briefing by local authorities, chambers at respective cities and site visits to the related associations and retailers.
To date, more than 130 meetings have been arranged.
During the business matching sessions, Malaysian companies would be able to introduce and pitch their products or services to high-potential buyers in both countries, Matrade said.
The B2B matching is considered the most effective platform for Malaysian companies to secure export sales.
The Malaysian delegates in the mission will be offering high quality chemical products and world-class services. They include industrial chemicals cleaning products, detergents, specialty chemicals, raw materials of petrochemicals, plastic products, fertilisers, industrial lubricant oils, agrochemicals, storage and warehousing services, original equipment manufacturing and contract manufacturing for chemical products, and engineering services to support the water treatment and power sectors.
Wan Azhamuddin Jusoh, Matrade deputy director of oil, gas, chemical and energy section, said there were huge opportunities for chemicals and chemical products in Vietnam.
The country received more than US$35 billion foreign investment in 2017, which created high demand for industrial chemicals to support industrial processing and manufacturing activities.
In 2017, Malaysia’s total trade with Vietnam for chemicals and chemical products grew by 21.1 per cent valued at RM4.36 billion as compared to the previous year.
Total exports of chemicals and chemical products to Vietnam also grew in tandem, powering ahead by 22.1 per cent to RM3.69 billion in year 2017.
Meanwhile, Cambodia being a net importing country, poses high demand for industrial chemicals and consumer goods from chemical-based, he said.
Malaysia’s total trade with Cambodia for chemicals and chemical products recorded an increase of 25.6 per cent valued at RM87.6
million from 2016 to 2017. Total exports of chemicals and chemical products to Cambodia grew by 24.5 per cent valued at RM85.3 million.