Domestic F&B players strive to expand into Australia

KUALA LUMPUR: The domestic food  and  beverage (F&B) sector is striving to expand into the high-value Australian market as reflected from the participation of 18 Malaysian exhibitors at the Fine Food Australia 2015.

Spearheaded by Malaysia External Trade Development Corp (Matrade), it is the 10th time Malaysian F&B companies took part in Australia's largest exhibition for the food and beverage industry.

Malaysian trade commissioner in Melbourne Noor Hayati Abu Noh said Matrade is leveraging on the event to highlight the strength of Malaysia's F&B sector, especially on innovative products that meet Australia's food industry trends and standards.

"Malaysian companies attending the event could also leverage on the Malaysia-Australia Free Trade Agreement (MAFTA), implemented in 2013, which provides preferential tariff for all Malaysian products entering Australia," she said in a statement on Wednesday. 

The four-day Fine Food Australia 2015 ends on Thursday.

Malaysian participants comprised major players as well as small and medium enterprises, promoting frozen food, ready-to-eat meals, durian and coconut-based products, palm oil products, confectioneries, sauces and paste, health supplements and food ingredients.

Ninety-five business meetings with over 80 potential business partners were arranged by Matrade for the Malaysian companies during the event.

In 2014, Malaysia exported RM1.18 billion worth of processed food to Australia.

For the first seven months this year, Malaysia's F&B exports were valued at RM700.5 million and major products exported included food ingredients and preparations, cocoa and cocoa preparations as well as processed seafood.

The Fine Food Australia offers the best platform for all sectors of the F&B industry to showcase and source its products for the Australia market and the neighbouring Oceania region, including Papua New Guinea, Fiji and Tonga. - Bernama