Malaysian companies exploring opportunities in SL

A Malaysian delegation consisting companies in various sectors will be visiting Sri Lanka from May 28 to 30 to explore business opportunities and further strengthen bilateral trade relationships between the two countries. This event will be organized by Malaysia External Trade Development Corporation (MATRADE) as an annual promotion activity in bringing Malaysian companies to venture in Sri Lanka.

The delegation consists of 13 Malaysian companies and will feature rubber materials for industrial products, household and industrial detergents, designed clothing, plastic products, juice beverage, vegetarian frozen food, children playground equipment, IBS modular building material, personal care products, software development kit, Malaysia healthcare and education services. With the support from the High Commission of Malaysia in Sri Lanka, MATRADE will be organizing a ‘Business-to-Business Meet’ Session for 2 days at Hilton Colombo. This session will give an opportunity for Sri Lankan companies to personally interact with the Malaysian businessmen. The B2B session is expected to generate not only business deals but also create potential join ventures between both business communities.

Sri Lanka continues to be Malaysia’s emerging trading partner. Complementing to the Sri Lanka development progress, Malaysia has gained recognition in the Sri Lanka market as a provider of quality and reliable products and services with large brand names such as Celcom Axiata, under the name of Dialog which is among the largest corporate investors in Sri Lanka. Proton and Perodua have made inroads into Sri Lanka and gaining a fair share of the automotive market.

Total trade between Malaysia and Sri Lanka has increased by 49.4 percent in 2011 to US $ 837.71 million. Malaysia’s total exports to Sri Lanka amounted to US $ 662.93 million, an increase of 37.8 percent compared with US $ 480.93 million in 2010. Major exports to Sri Lanka in 2011 were palm oil, chemicals and chemical products, iron and steel products, refined petroleum products, non-metallic mineral products and electrical and electronic products.