M'sian firms make sales of RM75m at ABT 2016

Kuala Lumpur: Malaysian companies generated sales of RM75 million (US$17.2 million) at the recent inaugural Asean Border Trade 2016 (ABT 2016).The Malaysia External Trade Development Corporation (Matrade) said sales were derived from the event's two main components, namely trade exhibition and International Sourcing Programme, the latter being its signature business matching activity.

Organised in Kota Baharu, Kelantan, the event saw the participation of Asean member countries, Thailand, Myanmar, Singapore, Indonesia and Brunei as well as China.

"The result was a strong indicator of the receptiveness of Malaysian companies, particularly from the East Coast, in integrating the border trade activities of Asean countries," Matrade said in a statement Monday.

With 119 booths taken up by both Malaysian and Asean companies, the ABT 2016 was attended by 3,711 visitors.

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It was complemented by over 250 business meetings arranged for the Malaysian companies.

The main products sourced at the ABT 2016 included premix coffee, tea and cocoa, dairy products, confectioneries.

The Southeast Asian region remains an important trading partner for Malaysia with trade in 2015 amounting to US$102.87 billion, an increase of 3.2 per cent as compared to previously.

Meanwhile, exports to Asean last year accounted for 28.1 per cent of total exports for Malaysia. For the first eight months of this year, exports into Asean increased by 5.6 per cent.

There is at present within Asean, a thriving border trade between the northern region of Malaysia and Southern Thailand, Indonesia and Sarawak, Sabah and the Philippines, as well as the borders of Thailand, Myanmar, Cambodia, Laos and Vietnam.

Under the post-2015 Asean Economic Community Action Plan, one of the focus areas is increasing intra Asean trade and investment, by developing border trade activities, said Matrade.

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It said the geographical proximity of the borders of many Asean countries can be a catalyst for local traders and businesses to do more business beyond borders.

"As an example, in 2015, the value of the border trade between Malaysia and Thailand was at US$13.8 billion or 62.4 per cent of our total trade with the country," it added. – Bernama

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