KUALA LUMPUR, Dec 2 (Bernama) -- Malaysia External Trade Development Corp (Matrade) is looking at more export opportunities to Uganda as it is a new and growing market in Africa.
Matrade's Director of Lifestyle Section, Abu Bakar Yusof, said total trade between Malaysia and Uganda for the first ten months of this year surged by 30 per cent to RM149 million compared to the same period last year.
"Malaysia is the net importer to Uganda with deficit of about RM80 million in that period following the increase in coffee bean import from that country.
"Our main exports to Uganda are rubber products, chemicals and chemical products plus fast-moving consumer goods which are seen as the promising sectors.
"We are also exploring infrastructure, construction services, professional services sectors due to many ongoing development in infrastructure and other services in Uganda," he told reporters after receiving a Barclays Bank delegation from Uganda here today.
Abu Bakar said Africa, as a combined market, has about 1.2 billion population relatively like China and offered great opportunities for Malaysian companies.
"Our trade partners in the region are Nigeria, South Africa and Ghana. Malaysia's exports to the region for the first ten months this year grew by 4.5 per cent to RM17.1 billion," he said.
He said Malaysia's exports to the region for the whole of 2015, however, were expected to grow moderately by around four to five per cent after registering a growth of 6.5 per cent in 2014 with a total export of RM19 billion.
The delegation was headed by Annette Kiconco, Head of Enterprise Banking for Barclays Bank and the bank's 12 premium clients representing Uganda's top companies.
The companies are keen to explore in building and construction materials, FMCG and furniture businesses with 12 Malaysian companies in a business matching programme arranged by Matrade today.
-- BERNAMA
Source: http://www.bernama.com/bernama/v8/bu/newsbusiness.php?id=1196000
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