KUALA LUMPUR, Nov 2 — The Malaysia External Trade Development Corporation (Matrade) will continue facilitating Malaysian companies increase their presence and strengthen business connections with industry players in the targeted major cities in Thailand.

Director of Asean & Oceania Section Raja Badrulnizam Raja Kamalzaman said with a population of more than 69 million people, Thailand offers a huge market potential and business opportunities in nearly all economic sectors.

"Shifting in consumption pattern among Thai consumers is visible, as increasing interest for global products and services imported from all over the world, including Malaysia can be seen throughout the country,” he said in a statement today.

Raja Badrulnizam said Matrade recently organised a virtual Export Acceleration Mission (EAM) to Bangkok, which is the third largest city in Asean.

The virtual mission held from October 26 to 28 brought onboard 10 Malaysian companies from various sectors such as food & beverages and information and communications technology to expand their brand footprints and build business partnerships with Thailand’s business community.

"Despite adjusting to the new norms where business is no longer as usual, the response received from buyers in Thailand indicates that there is still strong demand for Malaysian products and services.

"With the young and rising middle class population in Thailand driving the buying trend, Malaysian companies could leverage various platforms such as this to access the Thai market without having a physical presence in the country,” Raja Badrulnizam said.

Through Matrade’s Bangkok office, Malaysian participants were matched with potential partners from the central, northern and southern provinces of Thailand.

A total of 63 business meetings were arranged with more than RM12.7 million worth of potential sales recorded.

Besides leading the services and manufacturing industries, Thailand is the sixth largest trading partner for Malaysia.

Matrade, an agency under the Ministry of International Trade and Industry (MITI), said companies that were keen to explore or expand their presence in the Thai market could contact Matrade Bangkok at bangkok@matrade.gov.my. — Bernama