NANNING: Malaysian entrepreneurs have managed to rack up an impressive RM405.5 million worth of sales at the 14th China-Asean Expo (CAEXPO).
The amount is 16 per cent above the initial target of RM350 million.
Malaysia External Trade Development Corporation (Matrade) director (China unit) Ong Yew Chee said the unexpected outcome proves that the world’s economy was on a solid track.
He said the food and beverage cluster was the top performer at CAEXPO with RM268.83 million sales, compared to last year’s RM169.6 million.
“This is followed by the Health and Wellness cluster which made RM119.22 million in sales and the third was the Lifestyle cluster with RM17.45 million sales,” he said on the last day of CAEXPO today.
This year, he said, the Malaysia Pavilion received two recognition awards from the organiser — Best Trade Visitors Organiser and Best Industry Organiser.
Ong said more than 460 pre-arranged business meetings were made by Matrade for Malaysian companies to meet up with importers, distributors and wholesalers from nearby provinces in China.
“Apart from that, exhibitors also received serious enquiries from foreign buyers from Russia, Kazakhstan, Mongolia and other Asean countries who came to the Malaysia Pavilion sourcing for Malaysian products.
“CAEXPO has become a useful platform for Malaysian companies to promote and market their products and services.”
Ong said five memorandums of understanding (MoUs) were signed between Malaysian companies and China importers involving the sourcing for such things as durian-based products, confectionery, snacks, food paste and sauces, as well as 3-in-1 coffee.
Matrade itself on Tuesday forged a strategic collaboration with China Post in developing a virtual Malaysia Pavilion dedicated to Malaysian brands and products on China Post’s e-commerce portal, Ule.com.
“The establishment of the Malaysia pavilion in Ule.com will see a commitment by China Post to import at least 2,000 SKUs worth about RM300 million of Malaysian products per year as well as selling through the 600,000 of China Post’s offline stores nationwide,” he added.
The four-day expo, which has been organised annually in Nanning since 2004, is a platform to promote cooperation between China and Asean in the fields of trade, investment and tourism.
The theme for this year’s CAEXPO was “Jointly Build the 21st Century Maritime Silk Road, Promote Regional Economic Integration through Tourism”.
Trade between Malaysia and China expanded by 27.7 per cent to RM163.02 billion for the first half of 2017, with higher imports from China such as petroleum products, electrical and electronic products as well as machinery, equipment and parts.