KUALA LUMPUR, March 9 (Xinhua) -- Malaysia is intensifying efforts to help Malaysian oil and gas services and equipment (OGSE) companies diversify their export destinations, strengthening resilience against global uncertainties and the evolving international supply chain landscape, a government agency said on Monday.
Malaysia External Trade Development Corporation (MATRADE) said in a statement that as geopolitical shifts, supply chain realignments and the global energy transition reshape the industry, it is actively supporting Malaysian exporters in exploring new and emerging markets across Asia, the Middle East, Africa and Latin America.
By encouraging companies to expand beyond traditional markets, the government agency aims to help Malaysian OGSE firms reduce concentration risks while sustaining long-term export growth.
It is noted that the oil and gas sector remains a key pillar of Malaysia's economy, contributing approximately 20 percent to the national GDP.
In 2025, petroleum products accounted for 103.55 billion ringgit (26.12 billion U.S. dollars) or 6.4 percent of Malaysia's total exports, while liquefied natural gas and crude oil contributed an additional 71.05 billion ringgit.
"Global supply chains are undergoing major shifts, and Malaysian companies must adapt by diversifying their export markets while strengthening their technological capabilities," MATRADE Chief Executive Officer Abu Bakar Yusof said. (1 ringgit equals 0.25 U.S. dollars) ■