KUALA LUMPUR, May 7 (Bernama) -- The Malaysia External Trade Development Corporation (MATRADE) is expanding Malaysia’s export presence in emerging markets, following the government’s RM50 million allocation for its global trade diversification strategy.
MATRADE said in a statement today that it is strengthening ties with traditional markets like the United States (US), China, ASEAN, and the European Union (EU), while ramping up efforts to venture into markets such as Latin America, Central Asia, South Asia and Africa.
“In 2024, Malaysia’s exports to these markets registered encouraging growth notably to South Asia and the Middle East which expanded by 11.8 per cent and 6.3 per cent respectively,” it said.
MATRADE added that through targeted initiatives such as trade expos, export missions, business matching, and digital tools like the MADANI Digital Trade (MDT) platform, it is helping Malaysian exporters, especially small and medium enterprises (SMEs), diversify into new markets and strengthen global trade linkages.
On May 5, the government said it will allocate an additional RM50 million to MATRADE to expedite efforts to explore new markets.
Prime Minister Anwar Ibrahim said the initiative is a key part of the MADANI Government’s strategy to maintain economic stability and protect national interests in the short to medium term, especially in light of the reciprocal tariffs imposed by the US on Malaysia.
MATRADE chairman Datuk Seri Reezal Merican Naina Merican said the RM50 million allocation would enable the agency to step up its market diversification efforts and provide greater support for Malaysian exporters.
“We are committed to the MADANI Government’s vision and will continue to innovate and leverage our resources to ensure Malaysia’s trade remains robust and competitive on the world stage.”
He also urged all export-oriented companies, particularly mid-tier companies (MTCs) and micro, small, and medium enterprises (MSMEs), to take advantage of this opportunity and reach out to MATRADE for support in expanding globally.
-- BERNAMA
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