Federation of Sabah Industries opens doors to Spain for Sabah biz
Published on: Tuesday, August 27, 2024
By: David Thien
(Left to right) La Cámara Executive Secretary Carol Edwin, FSI President Richard Lim, Chairman Jordi Pol of the Malaysian Spanish Chamber of Commerce and Industry (La Cámara) and Embassy of Spain Economic Counsel.
Kota Kinabalu: Federation of Sabah Industries (FSI) has opened another European Union member market for Sabahan businesses to expand into Spain by formally joining the Malaysian Spanish Chamber of Commerce and Industry (La Cámara) business network.
FSI President Richard Lim told Daily Express that he has established a very good relationship with the Embassy of Spain in Malaysia.
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“The Embassy has a very close relationship with FSI and has been supporting most of our Sabah International Expo events since 2000.
“FSI was invited by the Malaysian Spanish Chamber of Commerce and Industry to join as their affiliate member. In considering their past support and close relationship for so many years, FSI is happy to do so, and I hope our Sabah business community would take advantage of this network collaboration to expand their business market,” Lim said.
By joining La Cámara, FSI aims to facilitate potential business collaborations that will benefit both organizations. FSI’s commitment to supporting its members aligns perfectly with La Cámara’s mission to drive innovation, growth, and success.
Established in 2009, Malaysian Spanish Chamber of Commerce and Industry (La Cámara) is a non-profit organisation comprising member companies of Spanish origin in Malaysia and Malaysian-based companies keen on expanding their businesses to Spain.
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La Cámara Chairman Jordi Pol said: “We are thrilled to announce that FSI has officially become a member of La Cámara with the intention of enhancing growth and collaboration among Spanish and Malaysian businesses.
“This exciting membership marks a new chapter for La Cámara, as we look forward to leveraging the extensive network and resources offered by FSI to create meaningful connections and opportunities between Sabah and Spain.
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“We believe that this partnership will open up new avenues for our members to connect, share ideas, and collaborate on projects that will have a positive impact on the business community.
“We are eager to get started and see the incredible projects and collaborations that will come out of this membership. We invite all our members to take full advantage of the opportunities that FSI has to offer, and we look forward to seeing the positive outcomes from this exciting partnership. Together, we can achieve great things and continue to support the growth and success of our business community,” Jordi Pol said.
Malaysia exports to Spain were US$1.24 billion during 2023, according to the United Nations COMTRADE database on international trade. Export of cocoa and cocoa preparations were worth $665,530 in 2023. Export of wood and articles of wood, wood charcoal worth $1,700,000 in 2023. Exports of rubber were worth $56,290,000 in 2023.
Exports of Spanish pharmaceutical products to Malaysia, which accounted for 8.1 per cent of total exports and increased by 4.5 per cent in the 2020s.
Likewise, Malaysia’s exports of rubber and rubber products increased by 175 per cent (24 per cent of total Malaysian exports to Spain in that period).
Spain imported €118 million (RM568 million) worth of palm oil and €147 million (RM707 million) worth of biodiesel from Malaysia, where both the total accounts for 22 per cent of Spanish imports from Malaysia.
Currently, there are around 50 Spanish companies based in Malaysia while more than 2,700 companies have traded with Malaysia. Among the prominent Spanish companies and brands operating in Malaysia are Bahru Stainless factory, Johnson Suisse, Dunlopillo Holdings, INDRA, Técnicas Reunidas, Meliá, Repsol, and Llao Llao.
Spanish investment in Malaysia covers many more sectors, including SOLARPACK in renewable energy, Ormazabal in electrical networks, and GRIFOLS, which is the world largest producer of blood plasma-based products, established in Malaysia since 1998.
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