Malaysia is strengthening its position among the Philippines’ top foreign investors and trading partner within the Association of Southeast Asian Nations.
Malaysian companies will explore partnerships with Mindanao-based businessmen through its coming trade mission to Davao from Nov. 18 to 20 for the Malaysia-Philippines Business Forum and B2B meetings, which will be held at the Marco Polo Hotel in Davao City on Nov. 20.
Siti Azlina, the Malaysia Trade Commissioner based in Manila, said her office has been actively pursuing opportunities in the Philippines, especially in fast moving consumer goods, construction and building materials, as well as information and communications technology and logistics services.
“Given Mindanao’s strength in the agricultural sector and its abundance of natural resources, Malaysia would be interested to explore collaborations in this area and see where we can complement our manufacturing base,” added the Trade Commissioner.
MATRADE, Malaysia’s national trade promotion agency, is the main organizer of the Business Forum in cooperation with the Davao City Chamber of Commerce and Industry.
It has identified five areas for potential businesses—food and beverage, personal and health care products, construction and building materials, ICT, and logistics services.
Thirty-eight Malaysian companies will be meeting with business leaders in Davao City and conduct market briefings and cluster visits to relevant prospectus partners.
The Malaysia-Philippines Business Forum on Nov. 20 is the highlight of the trade mission. It will be graced by Malaysian Ambassador to the Philippines and the President of the 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 compared with the same period last year, MATRADE data showed. Malaysia’s top exports are electrical and electronic products, palm oil and palm oil-based products, and petroleum distillates.
Philippine imports grew by nearly 2 percent or US$1.10 billion from January to June 2019. It likewise imports electronic products and machinery, MATRADE added.
