Tradeology, the ITA Blog

Francis Peters is the Senior Commercial Officer at the U.S. Embassy in Malaysia. 

This is the third piece in a blog series about different markets that will be featured during Trade Winds 2023. 

This post contains external links. Please review our external linking policy.

U.S. businesses looking for opportunities to export to Southeast Asia should strongly consider Malaysia. A country with a growing upper-middle income population, Malaysia has a well-established legal framework, a business-friendly environment, and a large English-speaking worker and consumer base. With an increasingly receptive market for sophisticated products and services, including in technology, manufacturing, and healthcare, Malaysia remains the 19^th largest trading partner of the United States, and trade between the two countries has nearly doubled over the last decade, peaking at $72.9 billion in 2022.

If you are a U.S. exporter looking to explore new emerging sectors, Malaysia’s position as a regional hub for technology, logistics, and manufacturing offers tremendous potential. Furthermore, since Malaysian consumers have fully adopted digital payment transactions, those who export consumer goods have low-cost access to the country’s wide consumer base. Ecommerce is expected to grow throughout the country, reaching 56 percent of Malaysians by 2027, with fashion, electronics, and beauty/health products expected to generate the highest revenue.

Malaysia has also become a leading global destination for international patients in Asia. The Malaysian government’s focus on providing world-class quality healthcare is driving demand for healthcare technology, medical devices, and digital health products and services. Other economic sectors are also rapidly expanding. The country aspires to be a regional aerospace hub and an integral part of the global aerospace supply chain, focusing on aerospace digital technology, advanced manufacturing (“Industry 4.0”) ecosystems, and human capital development—all of which present opportunities to enterprising U.S. firms.

Malaysia welcomes small and medium sized enterprises (SMEs), which are generally perceived to be more flexible and result oriented in comparison to larger companies. For example, a California-based SME and U.S. Commercial Service client that manufactures silicone gripping aids for users with disabilities was able to partner with a Malaysian distributor and open up a new market for the company in 2022.

As a way to provide export opportunities for U.S companies in this region, we at the International Trade Administration (ITA) look forward to hosting a Trade Winds mission stop in Malaysia on March 16 as part of the Trade Winds Trade Mission and Business Forum. Although the business-to-business matchmaking meetings in Malaysia are at capacity, interested companies may still register for the Business Forum in Bangkok, which will take place from March 13-15, 2023. For more information, and to sign up, visit the Trade Winds ASEAN website.

Beyond Trade Winds, there are several other trade events for U.S. companies interested in exploring Malaysia. Please reach out to your local Commercial Service office for further information and opportunities to explore other markets across Southeast Asia. 

Other Upcoming Trade Events in Malaysia 

March 17, 2023: The U.S.-Malaysia Clean Tech Forum will be a platform to engage the Malaysian government and private sector in strengthening the clean economy through the implementation of U.S. technologies and expertise. Discussions will center on best practices in carbon mitigation and renewable energy, featuring experts from both countries. As this event is by invitation only, interested companies may contact the U.S. Commercial Service Malaysia to register.

May 23-27, 2023: The Langkawi International Maritime & Aerospace Exhibition (LIMA) is a maritime and aerospace exhibition that takes place once every two years in Langkawi, Malaysia. The last event took place in 2019. The show welcomes companies from the most diverse sectors of the aerospace and maritime industry, including space, civil, military, manufacturing technology, rotary, and MRO providers.

September 14, 2023: The Clinical Waste Trade Mission is an excellent opportunity for U.S. waste management exporters to explore market opportunities in Southeast Asia. The event will include matchmaking appointments, market briefings, policy-focused roundtables, site visits, and opportunities to build relationships with potential partners and representatives from the Ministry of Health and the Department of Environment.

Steve Green is the Senior Commercial Officer at the U.S. Embassy in Vietnam. 

This is the third piece in a blog series about different markets that will be featured during Trade Winds 2023. 

This post contains external links. Please review our external linking policy.

The Vietnamese economy is one of the fastest growing in Asia, and American companies are increasingly looking there as a place to do business. Two-way trade in goods between the United States and Vietnam has increased dramatically over the past 28 years since the normalization of U.S.-Vietnam bilateral ties—from $450 million in 1995 to nearly $139 billion in 2022. If you’re a U.S. business looking to explore new opportunities, Vietnam offers tremendous potential worth considering.

Currently, Vietnam is the United States’ 8th largest goods trade partner and our largest goods trading partner in Southeast Asia. Key U.S. exports include agriculture, aviation, defense and security, healthcare, IT, environmental technology, power generation, and more. It is also the fastest-growing economy in Southeast Asia. Vietnam has a large population of potential consumers and workers as well—over 100 million people, 70 percent of whom are under the age of 40. Given our robust and growing trade relationship, the country’s rapid economic growth, and its sizable and young population, Vietnam presents numerous export opportunities for American companies across a variety of sectors. Altogether, U.S. goods and services exports to Vietnam supported more than 55,000 U.S. jobs in 2021.

This demonstration of increased commercial engagement comes at an opportune moment as this year our countries celebrate the 10th anniversary of the U.S.-Vietnam Comprehensive Partnership. Looking ahead, the United States seeks to elevate our relationship to a Strategic Partnership that will help advance the deep cooperation we have on trade and investment. For example, the U.S. International Development Finance Corporation (DFC) has identified clean energy, health care, critical infrastructure, and technology as priority sectors to enhance its export finance portfolio in Vietnam, further expanding opportunities for U.S. businesses of all sizes.

As a way to provide export opportunities for U.S companies in this region, the International Trade Administration looks forward to hosting a Trade Winds mission stop in Vietnam on March 10 as part of our agency’s larger Trade Winds Trade Mission and Business Forum. Although the business-to-business matchmaking meetings in Vietnam are at capacity, interested companies may still register for the Business Forum in Bangkok, which will take place from March 13-15, 2023. For more information, and to sign up, visit the Trade Winds ASEAN website.

Beyond Trade Winds, there are several other trade events for U.S. companies interested in commercial engagement in Vietnam. Please reach out to your local Commercial Service office for further information and opportunities to explore Vietnam and other markets across Southeast Asia. 

Other Upcoming Trade Events in Vietnam 

August 3-5, 2023: The Vietnam International Medical and Pharmaceutical Exhibition is the Vietnamese Ministry of Health’s international trade fair covering medical technology showcasing the latest achievements of the healthcare industry in Vietnam. Exhibitors come from all over the world to find new business partners in Vietnam’s growing healthcare sector. 

November 2023: The U.S.-Vietnam Trade Forum is the Vietnamese Ministry of Industry and Trade’s annual flagship platform to showcase progress in the bilateral commercial relationship and discuss collaboration opportunities in the country’s highest-potential industry sectors.