The deals – secured at the 2024 Trade Expo Indonesia (TEI) – involve business-to-business partnerships between Indonesian producers and Malaysian importers covering products such as textiles, tea, cosmetics and fragrances.

Indonesia’s consul-general in Penang Wanton Saragih said the value of the latest deals were significantly higher, compared with the two deals worth a total of US$1.55 million (RM6.63 million) secured last year by the northern states at the TEI.

He said these business deals were made possible through the consulate’s trade section which helped introduce the Indonesian companies to industry players in Penang and Kedah.

“The consulate-general wants to continue linking companies in the northern region with Indonesian players,” he said in a statement.

Three major Malaysian importers participated in the latest deals at the TEI, namely, M Chuharmall, Thong Guan Trading and RS Agency.

The three importers would be collaborating with seven Indonesian companies, Wanton said.

M Chuharmall signed deals to import textiles and related products from several Indonesian manufacturers, including PT Sri Rejeki Isman Tbk, PT Gajah Duduk and PT Panggung Jaya Indah.

Thong Guan Trading secured a contract to purchase tea products from PT Fair Trade Commodities, expanding its offerings in the beverage sector.

RS Agency entered into deals to import cosmetics and fragrances from multiple Indonesian suppliers, such as PT Gondowangi Tradisional Kosmetika, PT Griff Prima Abadi and PT Sekawan Kosmetik Wasantara.

Wanton said these companies were part of a business matching programme which attracted 75 potential buyers from Penang and Kedah. A memorandum of understanding was also inked between the Malaysian Entrepreneurs Association and the Indonesian Young Entrepreneurs Association.

Malaysia is one of Indonesia’s top trading partners in Asean, with significant imports of consumer goods, raw materials and industrial products.