Done deal: Chan (left), Reezal Merican (centre) and Mohd Mustafa at the MoU signing in Kuala Lumpur.
KUALA LUMPUR: Star Media Group Bhd
(SMG) will team up with Malaysia External Trade Development Corporation (Matrade) to convey trade-related stories that will provide the exposure to Malaysian companies in efforts to engage with traditional and future markets.
“The overseas offices provide us with market intelligence and lots of opportunities have been created that way. That’s why we believe stories like these need to be conveyed and well covered in order to reach the business community,” Matrade’s chief executive officer Datuk Mohd Mustafa Abdul Aziz told SMG reporters.
He said the companies engaged in the outreach of business and opportunity will include small and medium sized enterprises that are keen on exploring international markets.
“The larger chunk is out there, there is not much we can do over here. So reaching out to these larger markets will entail more exposure in which SMG will be a great partner to us,” he said.
SMG group chief executive officer Chan Seng Fatt said he had always seen Matrade as a long-time partner and hopes this collaboration will further enhance the ties between the two.
“We’ve witnessed how Matrade has helped the nation and various industries grow their presence overseas. This is why the collaboration is a natural progression and good collaboration, because SMG, being around for more than 50 years, has multiple platforms to be utilised with 24 million readers across the digital, print and radio platforms, among others,” he said.
Chan added that with the wide reach SMG brings, Matrade’s efforts and initiatives will gain a greater awareness, enhancing media value and exposure needed.
According to Mohd Mustafa, Matrade has done a good job so far as markets in Africa and Latin America have shown positive growth despite a slowdown in traditional markets.
He was speaking after a formal signing of a Memorandum of Understanding (MoU) between Matrade and SMG that formalises the government agency’s commitment to continue pursuing trade growth while harnessing SMG’s extensive media reach to tell its stories.
The MoU establishes SMG as the official media partner for Matrade, covering its initiatives, including mission trips, trade fairs and other large-scale projects.
Mohd Mustafa said the national trade promotion agency has plenty of stories to tell, being such a large entity with offices not only in six regions but also globally.
Matrade chairman Datuk Seri Reezal Merican Naina Merican said last year was the third consecutive year where total trade surpassed the trillion ringgit mark.
“However, I am ambitious and I want to go beyond with growth recovery in sectors that we have a niche in like electrical and electronics (E&E) and semiconductors,” he said.
He said there has been no sign of the E&E sector sunsetting, especially looking at the growth of electric vehicles and energy transition on a global scale.
“Malaysia has that as a niche, in particular Penang becoming the global producer of backends for the semiconductor sector, and we will continue to leverage and enhance this sector,” he said.
Additionally, Reezal Merican said at the current global trade forecast sitting at 3.3% for 2024, he hopes Matrade will surpass the RM1.5 trillion mark they achieved last year.
“We will continue amplifying the visibility between Matrade and exporters to achieve better than we have already. Diversification is the key that exporters need to look into,” he said.
He noted Matrade has identified five top export destinations, namely the Asean region, United States, Japan, Europe and China. However, he said Malaysia has recorded a trade surplus in all major markets except China.
“While whatever that happens in China will impact us, it is also up to us to look for emerging markets like Africa,” he said, highlighting that countries in Africa have made tremendous political, economic and demographic progress over the past few decades.
Reezal Merican said while Malaysia was not looking to compete with China, he believes emerging markets will pave the way for more opportunities.
“More importantly, we need to develop mid-tier companies in the global supply chain. This will ensure that local content will be able to contribute to wealth creation for our country.”
