MALAYSIA's trade surpassed the RM2 trillion mark for the first time for the period of January to November last year, thanks to the resilient business sector.
Trade, exports, imports and trade surplus recorded the highest value for the period and exports increased by 25.7 per cent year-on-year to RM1.116 trillion, which is a significant achievement.
The Malaysia External Trade Development Corporation (Matrade) remains cognisant of the need to remain relevant in the new normal by actively harnessing the Internet and adopting digitalisation in doing business.
Matrade has intensified exporters development and export promotion programmes, leveraging on various online platforms and allowing Malaysian companies to expand their market presence globally.
Last year, Matrade conducted 40 webinars covering topics in branding, marketing, business opportunities, as well as sustainability to elevate Malaysian companies' competitiveness.
Through MyExport Services, companies registered with Matrade can access 945 market intelligence reports, namely market alerts and product market studies, as well as 3,256 trade leads to keep abreast of the latest trends.
On the e-commerce front, the eTRADE Programme 2.0 encourages the use of digital mediums for export promotions of products and services globally through listings on selected international e-commerce platforms, as well as for the support of digital marketing activities and training. The programme had assisted 113 companies last year.
To develop targeted business segments, companies were mentored through customised programmes, notably the Mid-Tier Companies Development Programme, GlobPreneur, and Bumiputra, Women and Youth Exporters Development Programmes.
Through these programmes, eligible companies receive facilitation including coaching and participation in trade events.
Matrade continues to support Malaysian companies through the Market Development Grant (MDG) which was introduced in 2002.
To cushion the impact of Covid-19 on Malaysian small and medium enterprises, the scope of MDG was expanded to cover the increased cost of doing business, participation in virtual events, branding activities on digital platforms, international certification, as well as intellectual property (IP) registration.
Matrade has fully adopted the new way of conducting export promotions as physical interactions were impracticable. Last year, 43 export promotion programmes were conducted benefitting 2,161 companies and generating RM12.63 billion in export sales.
A total of 1,692 online business meetings or eBizMatch were organised between 1,205 Malaysian companies and 993 foreign buyers from all over the world between January and December last year.
Matrade's iconic event, the 17th edition of MIHAS was successfully conducted in a fully virtual format from Sept 9 to Dec 31, last year, featuring 549 local and foreign exhibitors, and attracting 16,512 online visitors.
The event generated RM2.13 billion in export sales from both its virtual exhibition and online business meeting components.
To ensure extensive business continuity for Malaysian exporters, Matrade organised its well-participated export acceleration missions and international sourcing programmes online.
It also organised the participation of Malaysian companies in hybrid trade events overseas such as the World Expo Dubai 2020 and China-Asean Expo.
Together with digitalisation, Matrade also advocates for sustainability. This was evident when last year, a Memorandum of Cooperation between Matrade, CIMB Islamic Bank and Malaysian Green Technology and Climate Change Centre was signed to accelerate the growth of Malaysia's green exporters.
Matrade expects more of such strategic partnerships to be formed in the near future.
The most important component of this initiative was the environment, sustainability and governance deliberated at high levels in the Trade and Investment Missions led by International Trade and Industry (MITI) Minister Datuk Seri Azmin Ali last year, with Matrade and Malaysia Investment Development Authority (Mida).
Both the digitalisation and sustainability agenda were incorporated in the National Trade Blueprint (NTBp), a five-year strategic plan (2021- 2025) formulated to increase Malaysia's trade competitiveness and tackle export concerns.
Matrade looks to champion the implementation of the NTBp with the support and commitment from the public and private sectors.
The framework, commissioned by MITI, is guided by identified initiatives to improve and enhance Malaysia's trade competitiveness through an efficient export ecosystem.
Matrade chief executive officer Mohd Mustafa Abdul Aziz is determined to highlight more of Matrade's roles as the national trade promotion agency.
"With the emphasis on digitalisation and sustainability, we will work closely with the government and private sectors to enhance the export ecosystem," he said.
Advancing into this year, Matrade is committed to delivering its best to facilitate and provide advisory assistance to Malaysian companies aiming to penetrate the global market.
A total of 286 exporters development and export promotion programmes have been put in place based on the strategic directions of NTBp focusing on these agendas.
With a network of 46 overseas-based offices and five regional offices in Malaysia, Mustafa urged Malaysian companies to contact Matrade to seek assistance regarding export opportunities.
"Matrade is committed to promoting Malaysian exports and collaborating with both public and private sectors to drive the country's export growth".
Matrade welcomes more Malaysian companies to be on board in its wide-ranging programmes. Get in touch with Matrade via its offices, social media platforms or visit www.matrade.gov.my.