KUALA LUMPUR, June 6 — Malaysia External Trade Development Corporation (MATRADE) helped to drive exports to Japan through high-level engagements with Japanese companies through the first trade and investment mission to Japan.
The objective was to strengthen trade and resume economic cooperation between Malaysia and Japan led by Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz from May 29 to June 2, 2023.
MATRADE chief executive officer Datuk Mohd Mustafa Abdul Aziz said Japan remains the country’s major market in Asia for Malaysian companies, being the fourth largest trading partner.
“As a result of MATRADE’s proactive efforts in arranging high-level engagements with Japanese top sogo sosha (Japanese general trading companies), the trade and investment mission to Tokyo and Osaka has secured significant business partnerships and export opportunities,” he said.
In a statement today, MATRADE said the mission outlined an impactful meetings and high-level engagements arranged by MATRADE with prominent sogo sosha which have committed to increasing trade and sourcing for a diverse range of quality Malaysian products and services worth US$458 million (RM2.1 billion).
The committed export deals are in energy, green and sustainable products, palm oil, wood products, chemicals and chemical products, fast-moving consumer goods and halal, as well as healthcare and digital services.
“MATRADE also played a pivotal role in arranging the meeting with the largest homebuilder company based in Osaka, Daiwa House Industry Co and Ltd.
“The company was pleased with the quality of products sourced from Malaysia and has committed to continue sourcing construction and building materials as well as interior furnishings and furniture from Malaysia for its projects in Japan and other Asian countries,” MATRADE said.
During the mission, MATRADE and Japan External Trade Organisation (Jetro) have also agreed to extend the memorandum of cooperation (MoC) for another year until April 5, 2024, acknowledging the initiatives and activities undertaken under the MoC which was signed in 2021 and has been in operation for two years.
The MoC aimed to promoting trade, deepening mutual understanding and friendship as well as contributing to the trade development of both Japan and Malaysia, including in the areas such as halal, information and communication technology, e-commerce and digital transformation.
