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November 2018
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Wednesday, 31 October 2018 17:30

We want to focus on the oil-gas industry – Dato Wan Latiff Bin Wan Musa Featured

We want to focus on the oil-gas industry – Dato Wan Latiff Bin Wan Musa

Caspian Energy (CE): Mr. Dato Wan Latiff Bin Wan Musa, Malaysia is one of the rapidly developing markets of the Asian-Pacific Region.  Which sector of industry deserves special attention in the present relations of the two countries?

Dato Wan Latiff Bin Wan Musa, Deputy CEO of MATRADE (Malaysia External Trade Development Corporation): Oil and gas industry is an important sector in Malaysia. Oil and gas industry contributes 20% to our country’s GDP. I was made to understand that about 80% of Azerbaijan’s economy is contributed by activities related to the oil and gas industry.  So, we see similarity between Azerbaijan and Malaysia in as far as oil and gas industry is concerned. Therefore, this is a sector that we would like to focus on when we talk about business relationship between Azerbaijan and Malaysia. Petronas is investing into the oil-gas projects in Azerbaijan and we would like the activity of Malaysian companies to increase in the region. I don’t deny also that we can collaborate in other areas as well, for instance, in medicine or production of medical equipment. Tourism is another promising area where we can also cooperate broadly. I find Baku a very nice and beautiful city, like Kuala Lumpur. But I doubt that many Malaysians are aware of the city of Baku, and I am not sure if people in Malaysia know about the beauty and perfect geographic location of your country. MATRADE, short form of Malaysia External Trade Development Corporation, is an agency under the Ministry of the International Trade and Industry, so our function is to help Malaysian companies to find overseas business partners.

CE: What are the advantages that let Malaysian companies successfully compete with other companies in the region?

Dato Wan Latiff Bin Wan Musa: PETRONAS has been actively developing the capabilities of Malaysian companies especially the SMEs through their Vendor Development Programme (VDP) since 1993. Over the past 25 years, many companies have grown to be actively providing services to the international market. Malaysian oil & gas companies have the capabilities and strengths in providing their services in this industry based on their experience and technology developed.

We have companies that succeeded entering the international market. To name a few, we have Bumi Armada providing FPSO services and currently is active in the African region, MISC providing services in Brazil, Sapura Energy in Brazil and Mexico, Essem Corporation, Solar Alert and Neu Dimension in Myanmar, REACH Energy in Kazakhstan as well as our SMEs actively providing services in Brunei and Indonesia.

In addition, Serba Dinamik has actively expanded their business throughout the Middle East and Central Asia. This proves that the track record that they have started with PETRONAS back in Malaysia push them to be more competitive globally. In tandem with this mission, MATRADE will assist and support the Malaysian companies to expand their businesses overseas.

CE:  What is your expectation of the programme today and how can it benefit? What can you offer to the companies that are currently taking part in your programme?

Dato Wan Latiff Bin Wan Musa:  MATRADE is providing the platform for the companies to start the business networking with the potential future clients. Our signature pre-arranged business meeting session is one of the initiatives taken by MATRADE to link up Malaysian companies that have the capabilities and competency to have strategic collaborations with potential partners to expand their business globally.

We are happy with the overwhelming responses from the industry players in Azerbaijan to meet with the Malaysian participants. To date, there are 131 business meeting sessions for the participants and we hope this is a stepping stone for them to be part of Azerbaijan’s oil & gas industry.

CE: Do you plan to cooperate with the Caspian European Club?

Dato Wan Latiff Bin Wan Musa:  The last time we came to Azerbaijan was in 2015 to participate in the Caspian Oil and Gas Exhibition. We see an increased interest between Azerbaijan and Malaysian companies in forming up collaboration and partnership, especially in the oil and gas industry. So, that is why we came here this time around, hoping to see a more active engagement of companies from Azerbaijan and Malaysia within the framework of this visit.

MATRADE is always open to collaborate with any organization that can strengthen our presence globally. With your membership spread in over 50 countries, we may further discuss on how can this collaboration brings the benefit to us as well to our companies.

CE:  Malaysia brands and companies are broadly represented at the world market.  Which privileges and incentives do you create for your own companies?

Dato Wan Latiff Bin Wan Musa: MATRADE provides vast assistance in terms of market information as well as trade information through various communication channels with our companies. We also have our Business Information Centre (BIC) that provides market journals and reports from numerous sources including subscription from online databases.

We work closely with other stakeholders such as Malaysia Petroleum Resources Corporation (MPRC), PETRONAS, Malaysian Oil & Gas Services Council (MOGSC), other associations and industry players to get their feedback and insights of their needs.

Through our 47 trade offices across the globe, MATRADE continues to promote the companies through collaboration with the local chambers and business councils. MATRADE also provides capacity building incentive by organizing seminars addressing specific topics. We believe that by addressing the whole supply chain, Malaysian companies will be ready to embark their journeys internationally.

CE:  Which market is regarded as the largest one for Malaysian oil-gas companies? What is your plan and expectation towards this region?

Dato Wan Latiff Bin Wan Musa: If we look at commodities, top 5 export destinations for oil & gas products are Japan (RM25.55 billion, increased by 19.6 % compared to RM21.36 billion in 2016), Singapore (RM24.66 billion, increased by 15.2% from RM21.41 billion in 2016), China (RM19.96 billion, increased by 80.9% from RM11.03 billion in 2016), Australia (RM14.63 billion, increased by 38.3% from RM10.58 billion in 2016) and Indonesia (RM10.00 billion, increased by 44.2% from RM6.94 billion in 2016). Again, PETRONAS plays a major role and actively promoting these commodities.

For specific oil & gas products and services, Malaysian companies are actively venturing into ASEAN (Myanmar, Indonesia and Vietnam), Kazakhstan and Latin America (Brazil and Mexico). Malaysian companies are also venturing into advanced economics, for example US and Europe for potential collaboration.

We have plans not only for this region but to all around the globe. As for now, we will continue with our trade promotion programme in introducing the services and equipment that offered by our local companies. We welcome for any future collaboration from the industry players in this region to identify suitable services providers among the Malaysian companies. Our trade office in Istanbul plays an important role to maintain the relationship and networking with Azerbaijani’s oil & gas industry players.

 

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