KUALA LUMPUR: Malaysian companies that took part in the International Sourcing Programme (INSP) in conjunction with the Southeast Asian Healthcare & Pharma Show (SEACare 2024) have successfully clinched potential sales totalling RM28.65 million.

The Malaysia External Trade Development Corporation (MATRADE) said eight international buyers from Thailand, Vietnam, United Arab Emirates, Zambia, and Zimbabwe participated in the INSP and were matched with 30 Malaysian companies in 95 pre-arranged business meetings.

Among Malaysian products that received great interest were essential medical supplies like syringes, needles, blood collection tubes and latex-free tourniquets, the agency said in a statement today.

MATRADE said the programme's success solidified Malaysia's position as a key player in the region for the healthcare industry.

"MATRADE is committed to strengthening Malaysia's healthcare product exports by enhancing the capability of our industry players.

"The strategic collaboration with SEACare exemplifies the benefits enjoyed by Malaysian healthcare businesses by helping them increase international sales," said chief executive officer Datuk Mohd Mustafa Abdul Aziz.

He added that MATRADE is looking forward to spearheading new projects that will not only contribute to local industry growth but also facilitate industry players to expand their global footprints.

In the first quarter (1Q) of 2024, Malaysia's medical devices and pharmaceuticals total trade rose to RM14.08 billion from RM12.4 billion in 1Q 2023.

Malaysia's exports of medical devices and pharmaceuticals recorded a 16 per cent growth to RM8.93 billion in 1Q 2024, while imports expanded 10 per cent to RM5.15 billion during the quarter.

SEACare 2024 was held on April 17, 2024, at the Kuala Lumpur Convention Centre.

The event provided a platform for local healthcare players to enhance their brand recognition and effectively promote products and services, particularly to the Southeast Asia market.