Matrade gets RM50mil allocation to boost export market expansion
This move, announced by Prime Minister Datuk Seri Anwar Ibrahim, highlights the Madani government's commitment to ensuring Malaysia's economic resilience and competitiveness amid global trade challenges.
Matrade chairman Datuk Seri Reezal Merican Naina Merican said the additional funding aligns with the MADANI government's agenda and the Ministry of Investment, Trade and Industry's leadership to further expand Malaysia's export expansion.
"The additional RM50 million allocation is a strategic boost that will empower Matrade to accelerate our market diversification strategy and support Malaysian businesses," he said in a statement.
Reezal encouraged export-orientated companies, particularly mid-tier companies and micro, small, and medium enterprises (MSMEs), to seize this opportunity and reach out to Matrade for assistance in expanding their global presence.
While strengthening trade relations with traditional markets such as the United States, China, ASEAN, and the European Union, Matrade is also stepping up efforts to tap into emerging markets in regions like Latin America, Central Asia, South Asia, and Africa.
In 2024, Malaysia's exports to these markets recorded encouraging growth, particularly to South Asia and the Middle East, which expanded by 11.8 per cent and 6.3 per cent, respectively.
MATRADE is supporting Malaysian exporters, especially SMEs, in expanding into new markets and reinforcing global trade connections through targeted initiatives such as international trade expos, export acceleration missions, business matching programmes, and digital tools like the MADANI Digital Trade (MDT) platform.
The organisation encourages all export-focused companies, particularly Mid-Tier Companies (MTCs) and Micro, Small, and Medium Enterprises (MSMEs), to take advantage of this opportunity and connect with MATRADE for expert guidance and assistance in growing their global footprint.
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