4 Malaysian Companies Exhibit at FoodPlus Expo 2024

From August 2 to 4, 2024, Phnom Penh was the epicenter of culinary innovation and trade as it hosted the FoodPlus Expo 2024. Held at the Diamond Island Convention and Exhibition Center (Koh Pich), this prestigious event brought together leading industry players from around the globe, with four notable Malaysian companies making a significant impact. Their participation underscores Malaysia’s growing influence in the global food sector and highlights the nation’s commitment to expanding its international trade reach.

FoodPlus Expo 2024: A Boost for Malaysian Businesses

The successful participation of Malaysian companies at FoodPlus Expo 2024 was facilitated through a strategic partnership between the Malaysia External Trade Development Corporation (MATRADE) Phnom Penh and the Agriculture Counsellor Office at the Embassy of Malaysia in Bangkok. This collaboration reflects a broader effort to support Malaysian businesses in gaining a foothold in international markets.

MATRADE, a key player in promoting Malaysia’s trade interests, worked closely with these companies to ensure their presence at the expo was impactful. The Ministry of Agriculture and Food Security Malaysia also played a crucial role, overseeing the showcase of various food products. This support highlights Malaysia’s commitment to enhancing its trade relations and providing its businesses with the tools they need to succeed on the global stage.

A Diverse Showcase of Malaysian Products

The Malaysian companies at FoodPlus Expo 2024 showcased an impressive range of food products, reflecting the country’s diverse food industry. Among the products displayed were instant noodles, confectioneries, tuna-based products, premix drinks, and frozen food items. Each product was crafted to meet international standards, showcasing Malaysia’s ability to deliver high-quality goods that cater to a wide array of consumer preferences.

The emphasis on diverse food categories is indicative of Malaysia’s strategic approach to tapping into various market segments. By offering a variety of products, Malaysian firms aim to appeal to different consumer tastes and preferences, thereby broadening their market reach and enhancing their competitiveness.

Enhancing Bilateral Trade Relations with Cambodia

The FoodPlus Expo 2024 served as a valuable platform for reinforcing the economic ties between Malaysia and Cambodia. In 2023, the bilateral trade between the two countries reached a notable $665.3 million. This figure reflects the robust economic relationship and the mutual benefits derived from trade between the two nations.

Malaysian exports to Cambodia were dominated by petroleum products, which constituted 33.1% of the total exports. Textiles, apparel, and footwear followed with 16.6%, and metal manufacturing accounted for 16.5%. These figures illustrate the strong presence of Malaysian products in the Cambodian market, particularly in key sectors.

On the flip side, Cambodia’s exports to Malaysia included textiles, apparel, and footwear (47.9%), other agricultural products (29.3%), and various manufacturing goods (11.6%). These statistics highlight the complementary nature of the trade relationship, with both countries benefiting from the exchange of goods that cater to their respective market needs.

Exploring New Opportunities for Cooperation

The strategic discussions and networking opportunities provided by FoodPlus Expo 2024 have opened new avenues for enhancing bilateral trade between Malaysia and Cambodia. According to Mohd Firdaus Mohammad, Deputy Trade Commissioner of MATRADE HCMC, which covers Vietnam, Cambodia, and Laos, the trade facilitation measures under the ASEAN Trade in Goods Agreement (ATIGA) are instrumental in this regard.

Firdaus emphasized that both Malaysia and Cambodia have significant potential to complement each other’s economic strengths. Areas for potential cooperation include a wide range of Halal products, such as food and beverages, personal care items, and cosmetics. Additionally, there are opportunities in sectors like ICT, machinery, parts and components, and chemical products. This broad spectrum of potential collaboration underscores the dynamic nature of the trade relationship and the opportunities it presents for both countries.

Upcoming Events and Future Prospects

Looking ahead, MATRADE is committed to furthering business connections between Malaysia and Cambodia. One of the key events on the horizon is the Malaysia International Halal Showcase (MIHAS) 2024, which will take place from September 17 to 20, 2024, at the Malaysia International Trade & Exhibition Centre (MITEC).

MIHAS 2024, organized by MATRADE and hosted by the Ministry of Investment, Trade, and Industry (MITI), is set to be a major event in the Halal industry calendar. The 20th edition of MIHAS will be themed ‘Globalising Halal Innovations,’ focusing on fostering innovation and promoting sustainable practices within the Halal sector. The showcase will provide a valuable platform for businesses to explore new market opportunities and connect with global industry leaders.

Cambodian companies are encouraged to participate in MIHAS 2024 to take advantage of this unique opportunity. By engaging with the event, Cambodian businesses can expand their presence in the global Halal market, gain insights into the latest industry trends, and forge valuable partnerships.

MATRADE’s Ongoing Efforts and Future Goals

MATRADE’s presence in Phnom Penh underscores its commitment to facilitating trade and investment between Malaysia and Cambodia. The organization continues to support Malaysian businesses in exploring new markets and fostering international collaborations. MATRADE’s efforts are aimed at strengthening economic ties, promoting Malaysian products, and creating opportunities for growth in both countries.

As Malaysia and Cambodia build on their existing trade relationships, events like FoodPlus Expo 2024 and MIHAS 2024 play a crucial role in shaping the future of their economic partnership. These events not only highlight the strengths of Malaysian businesses but also provide a platform for exploring new opportunities and enhancing bilateral cooperation.

The participation of Malaysian firms at FoodPlus Expo 2024 marks a significant milestone in Malaysia’s international trade efforts. The event provided a valuable platform for showcasing Malaysian products and exploring new business opportunities. With continued support from MATRADE and a focus on leveraging trade agreements and international events, Malaysia and Cambodia are poised to strengthen their economic ties and drive mutual growth in the global market.

The ongoing collaboration between the two countries, coupled with future events like MIHAS 2024, reflects a promising outlook for their trade relationship. As both nations work towards enhancing their economic partnership, the opportunities for growth and innovation in various sectors remain abundant.