KUALA LUMPUR: Malaysia Private Label Expo (MaPLE 2019) is expected to garner sales of RM20mil over the three-day event.
The inaugural trade-only expo is held concurrently with China-Malaysia “Belt and Road” Shaanxi Trade Expo 2019, which features exhibitors from Shaanxi, Fujian and Xiamen provinces.
Speaking at the expo launch, China’s Ambassador to Malaysia Bai Tian said Malaysia had recently participated in the 2nd China International Import Expo held in Shanghai and achieved orders amounting to RM50mil.
“China-Malaysia bilateral trade volume has exceeded US$100bil in the first 10 months of this year, making China the largest trading partner of Malaysia for 10 consecutive years.
“As at end-September this year, China-Malaysia mutually beneficial investments have accumulated to more than US$20bil,” he said.
MaPLE 2019 saw a strong exhibitor turnout with a total of 320 exhibitors, of which 73% are from the Fujian province in China, 24% exhibitors from Malaysia, and the remaining 3% from Thailand, Australia, Ghana and Nigeria.
The expo is aimed at positioning Malaysia as one of the world’s leading competitive private label trade shows for products and services, premised on the foundation of manufacturing excellence and cost competitiveness inherent in both Malaysia and China.
Private label is defined as the purchase of products and placing one’s own brand, where the products can be modified and enhanced accordingly.
The products will be produced by one manufacturer, which can only be sold by the particular brand owner.
Malaysia International Exhibitors Association president Jonathan Yew Chee Ming explained that this model worked well for both parties, given that China is good at production, design and product development, while Malaysia’s strength lied in marketing and sales.
Yew added that through this sharing of resources, Malaysia made a good stepping stone for Chinese businesses to enter into the rest of the Asean and Middle Eastern countries.
Meanwhile, Malaysia-China Business Council chairman Tan Kok Wai opined that the Malaysian economy and companies are benefiting from the trade war and there has been an increase in foreign direct investments from China to Malaysia.
“More Chinese entrepreneurs are venturing overseas to invest, especially Asean countries, with Malaysia as a major destination.
“We have a viable atmosphere and infrastructure here and we foresee a growing trend of Chinese investors.
“China is also encouraging imports, making it the most opportune time for Malaysian entrepreneurs to venture into China and improve bilateral relations between both countries, be it trade or friendship,” said Tan.
MaPLE 2019 is held from Nov 25-27 at Kuala Lumpur Convention Centre. It is co-hosted by Malaysia International Exhibitors Association and Fujian Chamber of Commerce for Import and Export.
Source: The Star, 26 Nov 2019