Leverage each other’s strengths for a mutually beneficial situation
TO improve Malaysian businesses and advance them in the export sector, the Malaysia External Trade Development Corporation (Matrade) forms collaborations with trade and industry associations, which include chambers of commerce and business councils, in the aim of helping SMEs enter new markets, improve business relationships and speed up processes – including market entry and logistics.
This is in line with the National Trade Blueprint (NTBp) commissioned by the Ministry of International Trade and Industry (MITI) and developed by Matrade in 2021.
These collaborations are formed to leverage each other’s strengths towards a mutually beneficial situation for all parties involved.
Business associations, in particular, play an important role as a channel of communication between government and the private sectors and act as representatives of industries.
They are also subject matter experts, as their members are industry players directly involved in the market.
Trade associations also have a valuable database of actors within their industrial value chain.
Matrade has collaborated with local and foreign trade associations with the aim of exchanging information on business challenges, industry know-how, expertise and capabilities of association members, and sustainability in trade.
The company shares market opportunities in various sectors and markets and, most importantly, conducts business matches between association member companies and overseas buyers based on business leads received by its 46 overseas offices.
To this end, Matrade has organized promotional stands at international fairs abroad, including Japan (Kenten Expo on building materials) and Africa (Abuja Halal Expo on halal products and services) at the invitation of professional associations. of the respective country.
To help share opportunities with Member Associations, Matrade also hosts webinars to showcase market opportunities in high value sectors such as Franchising, Oil & Gas and Furniture, as well as markets such as Bhutan. , Uganda, South Africa, United Kingdom, Hungary, Turkey and Bulgaria, among others.
It also shares the latest information and updates on global trends and latest developments, such as sustainability.
In addition, Matrade has been instrumental in organizing export acceleration missions – both virtual and physical – in selected sectors and markets.
Trade and investment missions are also organized abroad, where Matrade establishes collaborations with the local chambers of the host country to organize round tables and individual meetings with potential importers.
On the one hand, a collaboration with the Lima Chamber of Commerce (CCL) was established during the recent mission to Peru.
To help its members gain exposure, Matrade provides a platform to showcase their products and services at the Malaysian Export Exhibition Center (MEEC) – a specialized exhibition center for overseas visitors who wish to source their products and services by Malaysia.
To continue to propel Malaysian businesses towards continued growth, Matrade recently launched its new Empower Trade Associations (ETA) initiative to enable trade associations to organize trade promotion activities for their members while benefiting from market intelligence. and the presence of Matrade abroad.
Through ETA, promotions of high-tech, high-value and sustainable sectors will be intensified to enable more Malaysian companies to participate in the global value chain, in addition to exploring new markets.
Extensive networks between business associations in Malaysia and abroad will also strengthen bilateral or regional relations between Malaysia and partner countries.
For the pioneer year, 21 export promotion activities carried out by 13 professional associations will benefit from this programme.
This covers various targeted industries such as aerospace, pharmaceuticals and medical devices, construction services, oil and gas, and electrical and electronics, to name a few.
These programs will provide access to new markets such as Mongolia, Brazil, Africa and Central Europe and FTA partner countries including ASEAN countries and Australia.
To this end, Matrade welcomes more strategic collaborations to develop and deepen exports in various sectors and markets.
The collaborations will bring out the best in both parties to ultimately benefit the nation and the country as a whole and make Malaysia the preferred sourcing destination.
Matrade urges Malaysian trade associations and companies that export or wish to venture into export markets to register with Matrade and tap into the myriad of opportunities available and go global.