Malaysia’s total trade with Thailand hit RM112.42 bln in January-November 2022

BANGKOK, Malaysia’s total trade with Thailand continued its stellar performance and hit RM112.42 billion (US$25.7 billion) from January to November last year, an increase of 27.4 per cent for the same period in 2021.

Trade commissioner of Malaysia External Trade Development Corporation (MATRADE) Bangkok, Mohamed Hafiz Md Shariff said that in the first 11 months of 2022, the trade surplus between Malaysia and Thailand maintained an upward trajectory compared to the same period last year.

“Exports to Thailand increased 28.4 per cent to RM60.77 billion (US$13.9 billion). Imports from Thailand also rose by 26.2 per cent to RM51.64 billion (US$11.8 billion) from RM40.92 billion (US$9.4 billion) compared to the same period last year,” he said at the launch of Malaysia Halal Pavilion on Shopee Thailand through a collaboration with HYT Cross Border in Bangkok on Wednesday.

From January to November last year, Thailand is ranked as Malaysia’s third top trading partner among ASEAN countries, the sixth largest export destination and the eighth largest source of import.

Meanwhile, Mohamed Hafiz invited importers and distributors from Thailand to be part of the 19th Malaysia International Halal Showcase (MIHAS) which will be held from Sept 12-15 this year.

He said the halal industry is touted as a new growth sector in light of the huge potential in this market as the rising affluence of Muslims worldwide and the increasing awareness have created high demand for halal products and services.

Business opportunities, he added, are not only confined to the food and non-food sector but also cover the services sector such as finance and banking, insurance, education and training, research, certification, consultancy, logistics, healthcare as well as travel and tours.

“Observing the vast opportunities in halal products and services, MATRADE is pleased to invite importers and distributors from Thailand to be part of the 19th MIHAS.

“The 19th MIHAS would place special emphasis on the agenda of helping local and international players look into innovation and sustainable initiatives to spearhead steady growth for the halal economy.

“MIHAS is not limited to the Asean region alone but is also supported internationally by the participation of international pavilions from countries across the globe, from trade commissions to various government agencies as well as from industry players to market leaders,” he said.

He added that distributors and importers could also participate in the International Sourcing Programme (INSP), a business matching session as well as MIHAS connect, an AI-assisted business matching suite for virtual visitors, matching relevant exhibitors to trade visitors.

“The INSP will be the ideal avenue for you to meet up with the Malaysian halal industry players as well as to be updated with the recent development in halal products and services,” he said.

Source: Nam News Network