KUALA LUMPUR: Malaysia External Trade Development Corporation (Matrade) is ramping up efforts to help Malaysian oil and gas services and equipment (OGSE) companies expand into new and emerging markets in Asia, the Middle East, Africa and Latin America.
Matrade said it aims to help Malaysian OGSE firms grow beyond traditional markets and reduce concentration risks while sustaining long-term export growth.
"Through programmes such as the Mid-Tier Companies Development Programme (MTCDP) and participation in major global industry exhibitions, Matrade provides Malaysian companies with strategic exposure, business matching opportunities and access to international buyers," the agency said in a statement.
Matrade CEO Abu Bakar Yusof said market diversification is increasingly important to Malaysian exporters as they nagivate a more complex global trading environment.
"Global supply chains are undergoing major shifts, and Malaysian companies must adapt by diversifying their export markets while strengthening their technological capabilities. Matrade plays a critical role in helping Malaysian OGSE companies access new markets and position themselves competitively on the global stage,” he said.
Matrade cited local valve startup MIR VALVE Sdn Bhd as an example of a local OGSE company expanding into global markets.
It said MIR VALVE strengthened its presence in key markets including India via participation in Matrade’s MTCDP and international trade platforms such as ADIPEC.
Recently, MIR VALVE secured a contract valued at over RM10mil for a Subsea Pipeline End Manifold (PLEM) project in India, supplying 48-inch Class 300 Shutdown Subsea Ball Valves, among the largest subsea actuated ball valves in the global market.
According to Matrade, the project was fully implemented with the expertise of local Malaysian talent, demonstrating the capability of Malaysia’s engineering sector to deliver complex solutions for international energy projects.
