MCS seen as a great opportunity for Thai businesses
The upcoming Malaysia-China Summit (MCS) 2024 will provide significant opportunities for Thai businesses to expand their trade and investment reach not only within Malaysia but also across Southeast Asia and China, according to MCS 2024 Commissioner-General Dato Tan Yew Chong, who was speaking at a networking event in Bangkok on Wednesday.
Themed “Prosperity Beyond 50”, the summit promises a wealth of opportunities for collaboration and investment. Thai businesses can connect with over 500 exhibitors and 10,000 delegates from Malaysia, China, and ASEAN countries, fostering potential partnerships across diverse sectors.
“They should not miss out on the business matching opportunities, industry forums, pocket talks, networking and knowledge sharing offered at the summit which aims at fostering regional collaborations and cooperation,” he said.
The summit coincides with the 50th anniversary of Malaysia-China diplomatic relations, aligning with Thailand’s role as an ASEAN founding member in promoting regional economic growth. It aims to capitalise on synergies between the Malaysian and Chinese markets, allowing Thai businesses to diversify their portfolios and tap into a wider customer base.
The three-day trade and investment expo will showcase Thai products and services to a vast regional audience. Five thematic pillars – Future Tech, Knowledge & Experience, Mobility & Connectivity, Future Growth, and Future Opportunity – will provide a focused platform for engagement, while the two-day Leadership Conference will offer valuable insights from industry experts on emerging trends shaping the economic landscape.
Trade Commissioner of Malaysia External Trade Development Corporation (MATRADE) Bangkok, Mohamed Hafiz Md Shariff, pointed out that with a focus on over 20 key sectors, MCS 2024 is a compelling opportunity for Thai businesses to forge partnerships, gain market knowledge and unlock new avenues for growth.
He encouraged Thai industries, particularly those in digital technology, AI, renewable energy, electric mobility, commodities, global services, tourism, education, regional connectivity infrastructure, electronics, healthcare and medical tourism, advanced manufacturing, F&B, the halal industry, franchise operations, culture and tourism, to explore the summit’s numerous collaboration and growth opportunities.
“With a high number of exhibitors and trade visitors covering a wide range of sectors, Thai businesses can expand their market reach, forge strategic partnerships, and gain insights into emerging trends and technologies,” he said.
He added that the summit aims to generate at least RM2 billion in potential trade and investment opportunities, giving Thai industries ample opportunities to innovate, diversify their portfolios, and capitalise on market synergies between Malaysia and China.
Datuk Jojie Samuel, Malaysia’s Ambassador to Thailand, invited Thai industries to strengthen bilateral trade, aiming to achieve a combined US$30 billion by 2027.
“MCS 2024 serves as a vital platform to achieve this ambitious target,” he stated, emphasising the strong trade ties between the two nations – Malaysia being Thailand’s 4th largest trading partner globally and vice versa within ASEAN.
Emphasising the robust bilateral trade relations between Malaysia and Thailand, he said that the mutual trade reliance of both countries reflects significant economic ties and opportunities for further collaboration.
The Ambassador also highlighted Malaysia’s export strengths in products critical to Thailand, such as electrical components, healthcare goods, and halal products, which cater to Thailand’s sizable Muslim population.
“The summit aligns with our vision of a prosperous ASEAN region linked by strong trade and investment. It provides a powerful platform that improves opportunities for businesses throughout the region,” he said, encouraging Thai businesses not to pass up this opportunity to broaden their reach and contribute to a more prosperous ASEAN region.
The summit takes place from December 17 to 19 at the Malaysia International Trade and Exhibition Centre in Kuala Lumpur.
Considered one of Malaysia’s largest annual events, MCS 2024 provides a platform for exploring potential in fields such as digital technology, artificial intelligence, renewable energy, and electric mobility. Businesses can gain valuable market insights into emerging trends and technologies by attending conferences, forums and networking
