KUALA LUMPUR: Malaysia Buyer Service Centre has been set up in Yiwu, China for Malaysian companies to be part of the world’s largest wholesale market.
Malaysia External Trade Development Corp (MATRADE) deputy chief executive officer Datuk Wan Latiff Wan Musa said the centre in Yiwu will serve as an entry point for local companies to market their products into China.
He said other than tapping the large population of China, Yiwu also serves as a platform for local companies to sell their products to the world.
“Yiwu is well connected to other provinces in China and the rest of world through Silk Road and highways, for example there is a rail link and highway connecting Yiwu to Europe through Central Asia,” he told press conference after officiating the seminar to introduce the centre to Malaysian companies.
The Malaysia Buyer Service Centre was set up by Yiwu Bureau of Commerce.
Wan Latiff said Yiwu, the largest wholesale market in the world, is where 500,000 foreign merchants source for products every year and over 15,000 foreign buyers from more than 100 countries and regions reside.
“Yiwu exports products to more than 210 countries globally with daily export goods reaching over 800 containers,” he said.
In 2018 alone, Yiwu’s global export volume touched USD$33.66 billion, he added.
Wan Latiff said the Malaysia Buyer Service Centre has also started its e-commerce portal, a strategic platform to market Malaysian products in Yiwu.
MATRADE in collaboration with Yiwu Bureau of Commerce, will be launching a special exports acceleration mission from November 11 to 13, bringing over 100 Malaysian companies with them.
“During the mission, one-to-one business meetings will be arranged for the Malaysian exporters to meet with potential buyers based in Yiwu.
“These meeting will provide greater linkages between Malaysian suppliers with the local business community in China and international buyers in Yiwu,” he said.
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