Malaysia External Trade Development Corporation (MATRADE) recently organised a virtual Export Acceleration Mission (EAM) in conjunction with Cosmoprof Asia Digital Week 2021 in Hong Kong from November 8 to 16.
Cosmoprof Asia is Asia’s leading beauty trade fair, held annually by Informa Markets since the past 25 years in Hong Kong. Due to the prevalent Covid-19 pandemic, Cosmoprof Asia Digital Week was organised to offer a digital match-making platform for buyers and sellers to interact with companies, view new product launches, place orders, meet clients and potential customers, and stay up to date on beauty trends and technology in 2021/2022.
In line with MATRADE’s mission to promote Malaysian exporters to foreign markets, the agency organised the first ever Malaysia ePavilion at Cosmoprof Digital Week 2021 platform with the participation of twelve Malaysian cosmetics and toiletries companies. In collaboration with Federation Malaysian Manufacturers-Malaysian Cosmetics and Toiletries Industry Group (FMM-MCTIG), MATRADE also coordinated a series of webinars for the foreign buyers and Malaysian companies towards highlighting Malaysia’s unique ecosystem and niche advantages for the beauty industry.
Two Malaysian participants, Ilyska Bioinnovation Sdn Bhd and Sky Resources Sdn Bhd have also been selected as the shortlisted companies for Cosmo Trends, a report which will feature their hero products along with twenty other products sellers from around the world as selected by the global trends’ agency, Beautystreams. The CosmoTrends report has become the beauty community referent point for buyers, bloggers, influencers, journalists, and experts to be updated with the market trends in different beauty categories. In addition, their products were featured on the Cosmoprof Asia Digital Week website, during BEAUTYSTREAMS’s webinar on November 8 and promoted in the CosmoTrends report to Cosmoprof’s global database by newsletter, press release, and social media posts. Their selection proves Malaysian exporters capabilities to produce good quality, innovative products that are in demand in foreign markets.
Noor Ezzwanee Ahmad, the Trade Commissioner of MATRADE Hong Kong shared that, “Many foreign buyers in the cosmetics and toiletries industry don’t realise that most Malaysian companies are export-ready and capable to meet the requirements of the market and the industry. Many Hong Kong buyers are looking for alternative suppliers as their existing suppliers from China, Japan and South Korea are getting more expensive and unable to meet their requirements or needs. As observed during the business meetings organised by MATRADE, most buyers are very interested with the Malaysian companies’ offers in terms of the prices and also the flexibility of producing products according to the buyers’ formula or requirements.”
She added, “We noticed that many buyers are now requesting social audits reports which shows the industry’s requirement for well-managed and sustainable business. However, some Malaysian companies are unaware of these new requests needed by the industry, especially those supplying to the American and European markets.”
Malaysian companies interested to export their products to Hong Kong can contact MATRADE Hong Kong at [email protected].