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Business : Matrade Eyes RM400 Mln Sales From 2nd Marketing Mission To Kazakhstan

KUALA LUMPUR, Sept 26 (Bernama) — The Malaysia External Trade Development Corporation (Matrade) expects to generate RM400 million sales during its second specialised marketing mission to the Kazakhstan International Oil and Gas Exhibition (KIOGE) 2014.

Matrade Director of Oil and Gas Chemical Section, Trade and Services Promotion Division, Abu Bakar Koyakutty said the first mission in 2012 had generated sales worth RM200 million and saw the participation of seven oil and gas (O&G) companies.

For the upcoming mission, nine O&G companies and 14 representatives from local companies are expected to participate in the three-day exhibition which will kick off on September 30.

“The mission programme includes meetings with relevant O&G authorities and key companies in Kazakhstan. It will also include pre-arranged individual business meetings for Malaysian participants with Kazakh and foreign companies,” Abu Bakar told a media briefing today.

He said that Malaysian companies had the capabilities to tap into the Kazakhstan O&G industry due to their expertise in offshore and deepwater products and services, which aligned with the country’s oil reserve base in the Caspian sea region, which stands at some 30 million barrels of oil and two trillion cubic metres of gas.

Abu Bakar also noted that Malaysian companies were capable of providing infrastructure for the growing industry in Kazakhstan, the second largest oil producer in central Asia after Russia.

The growing petroleum industry accounts for more than 30 per cent of the country’s gross domestic product and more than half of its export revenue.

Abu Bakar also urged the Small and Medium Enterprises (SMEs) involved in the O&G sector to register with Matrade to enable the corporation to have access to the company.

“There are only about 200 to 300 companies registered with Matrade, the number is still small. We can’t access the companies’ profile and it is difficult to give information on trade mission or any related opportunities,” he said.

As part of its effort to boost the SMEs participation in the O&G industry, Matrade allocates about RM10,000 for each SME for them to introduce their products and services on the international stage.

— BERNAMA

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