To leverage on one another’s strengths towards a mutually beneficial situation
TO enhance Malaysian companies and drive them forward 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, with the aim to assist SMEs penetrate new markets, improve business connections and speed up processes – including market entry and logistic.
This is in accordance 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 on one another’s strengths towards a mutually beneficial situation for all parties involved.
Trade associations, in particular, play an important role as a communication channel between government and private sectors and act as representatives from the industries.
They are also subject matter experts, as their members are industry players involved directly with the market.
Trade associations also own a valuable database of players within their industry value chain.
Matrade has collaborated with both local and foreign trade associations with the aim to exchange information on business challenges, industry know-how, association members’ expertise and capabilities, as well as sustainability in trade.
The corporation shares market opportunities in various sectors and markets, and importantly, conducts business-matching between association member companies and foreign buyers based on trade leads received by its 46 offices overseas.
To this end, Matrade has organised promotional booths in international exhibitions overseas, notably in Japan (Kenten Expo on building materials) and Africa (Abuja Halal Expo on halal products and services) based on invitation by the respective country’s trade associations.
To help share opportunities with member associations, Matrade also conducts webinars to present market opportunities in high value sectors such as franchise, oil and gas, and furniture, as well as markets such as Bhutan, Uganda, South Africa, UK, Hungary, Turkey and Bulgaria, among others.
It also shares the latest information and updates in global trends and latest developments, such as sustainability.
Besides this, Matrade has been instrumental in organising export acceleration missions – both virtual and physical – in selected sectors and markets.
Trade and investment missions are also organised overseas, where Matrade establishes collaborations with the local chambers in the host country to arrange roundtable and one-on-one meetings with potential importers.
For one, a collaboration with the Lima Chamber of Commerce (CCL) was established in the recent mission to Peru.
To help its members gain more exposure, Matrade provides a platform to showcase their products and services at the Malaysian Export Exhibition Centre (MEEC) – a specialised exhibition centre for foreign visitors to source products and services from Malaysia.
To continue powering Malaysian companies towards continued growth, Matrade recently launched its new Empower Trade Associations (ETA) initiative to empower trade associations in organising trade promotion activities for their members while benefiting from Matrade’s market intelligence and presence abroad.
Through the ETA, promotions of high technology, high value and sustainable sectors will be intensified to enable more Malaysian companies to participate in the global value chain, apart from exploring new markets.
Vast networks between trade associations in Malaysia and abroad will also increase bilateral or regional relations between Malaysia and partner countries.
For the pioneer year, 21 export promotion activities by 13 trade associations will benefit from this programme.
This covers various targeted sectors such as aerospace, pharmaceuticals and medical devices, construction services, oil and gas and electrical and electronics, to name a few.
These programmes will provide access to new markets such as Mongolia, Brazil, Africa and central Europe and FTA partner countries which include Asean countries and Australia.
To this end, Matrade welcomes more strategic collaborations to expand and deepen exports in various sectors and markets.
Collaborations will bring out the best of both parties to ultimately benefit the nation and the country as a whole and make Malaysia the preferred sourcing destination.
Matrade urges trade associations and Malaysian companies which are exporting or wish to venture into the export markets to register with Matrade and tap into the myriad of opportunities that are on offer and go global.
