KUALA LUMPUR (May 17): The Malaysia External Trade Development Corporation (Matrade) has generated a total sales of RM250 million through an export acceleration mission (EAM) to Egypt and Libya.

In a statement, it said 10 Malaysian companies participated in the EAM, which ran from May 10 to 16, 2024, comprising fast-moving consumer goods, building materials, machinery, renewable energy, oil and gas, medical devices, palm oil-based products and services.

“Matrade’s office in Cairo collaborated with Chambers of Commerce in Egypt and Libya in organising business matchings, market visits, engagement and networking sessions with local businesses,” it said.

Matrade chairman Datuk Seri Reezal Merican Naina Merican said the mission reflects the effectiveness of proactive engagements and strategic business collaborations in fostering trade relations and exploring new opportunities in the North African market.  

“Egypt and Libya are among Malaysia’s largest trading partners in North Africa, and Matrade will continue to support Malaysian exporters’ efforts to grow their export footprint in these markets.

“Malaysian companies should capitalise on the increasing demand for industrial and consumer products, arising from progressive economic growth in both countries,” he said.

In 2023, Malaysia’s total trade with Egypt stood at RM3.35 billion and Libya’s at RM0.36 billion, showing immense opportunities to expand Malaysia’s exports into these markets, Reezal Merican said.

https://www.theedgemarkets.com/node/712059