Phl urged to ship more goods to Malaysia

MANILA, Philippines - The Philippines is being urged to consider shipping more goods to Malaysia to strengthen the two countries’ trade relations amid the upcoming Association of Southeast Asian Nations (ASEAN) economic integration.

In a statement from the Philippine Exporters Confederation Inc., Malaysia External Trade Development Corp. (MATRADE) commissioner Har Man Ahmad said there are opportunities for exporting electrical items and electronics as well as agriculture-based products in the Malaysian market.

He said there is also a market for Philippine cosmetics and personal care products in Malaysia.

“Filipino consumers may seek to find opportunities in providing raw materials to the strong manufacturing base of Malaysia,” he noted.
MATRADE Manila is actively promoting increasing Malaysia’s trade with the ASEAN including the Philippines as it seeks to have a more active role in the region’s economic integration.

“We hope to further increase our presence as we move progressively towards an integrated economic community where we are encouraged to trade freely and to take advantage of the opportunities offered in this huge market of 625 million people with a total trade of $2.37 trillion,” Ahmad said.

The ASEAN Economic Community will be established by the end of next year.

It seeks to allow free flow of goods, services, skilled labor, investments and capital within the region.

Bilateral trade of Malaysia with the Philippines was valued at $4.47 billion last year, down by 9.6 percent from $4.95 billion in 2012.
Ahmad attributed the lower bilateral trade to the decline in electronic products traded amid weak demand from other markets.

Malaysia was the Philippines’ 11th largest trading partner and export destination in 2013.

Within ASEAN, the Philippines was Malaysia’s fifth biggest trading partner.