KEPALA BATAS: Malaysia is looking to expand its export destinations to more stable regions such as Central Asia, South-East Asia and Africa, says Datuk Seri Reezal Merican Naina Merican.
The Malaysia External Trade Development Corporation chairman said these regions were identified as relatively low-conflict zones.
He said there was significant room for growth through broader market diversification as Malaysia’s exports to the Middle East currently account for about 2.7%.
“Our strategy focuses on diversification while strengthening national exports.
“Besides market diversification, we are leveraging Free Trade Agreement (FTA) partnerships that provide wider market access through reduced or eliminated tariff barriers.
“Our FTA partners have already opened up significant access for us. Many tariff barriers are no longer in place, so we must take advantage of these opportunities to increase exports.
“We will continue our engagement sessions with key stakeholders to ensure stronger coordination and synergy in supporting micro, small and medium enterprises (MSMEs) as they navigate an increasingly complex global trade environment,” he said after attending the Jualan Madani Koperasi & Usahawan (JMKU) organised by the Entrepreneur Development and Cooperatives Ministry (Kuskop) in Permatang Sintok yesterday.
He said the strategy also includes a “regain and retain” approach, which involves identifying markets where Malaysia can rebuild or maintain its trade position, including countries with relatively small trade deficits.
He highlighted the importance of addressing global supply chain disruptions, noting that while sectors such as electronics may be less affected, food-related and halal industries are more vulnerable due to their reliance on key consumer markets.
“There will certainly be impacts, especially on food products and the halal industry, as these depend heavily on major consumer markets in those regions,” he said.
He said a whole-of-government approach is essential for effective implementation, involving coordination across ministries and agencies, including Kuskop.
He added that the government has introduced the Business Guarantee Scheme (SJPP) worth approximately RM5bil to support MSMEs’ liquidity and working capital needs, particularly as some markets are now demanding extended credit terms of up to six months.
“We will continue working closely with Kuskop to create synergy and implement these initiatives jointly,” he said.
Also present were Kuskop Minister Steven Sim and the ministry’s secretary-general Datuk Seri Khairul Dzaimee Daud.
Earlier, hundreds of residents from villages around Kepala Batas took the opportunity to purchase daily necessities offered at discounts of up to 40%.
