Malaysia’s MATRADE Targets New Emerging Markets to Strengthen Economy, Trade
KEPALA BATAS (Penang, Malaysia), March 23 (Bernama) -- The Malaysia External Trade Development Corporation (MATRADE) aims to target new emerging markets this year to strengthen and enhance the country’s trade and economy.
Chairman Reezal Merican Naina Merican said Malaysia needs to explore emerging markets in Africa, including countries like Egypt, Libya and Botswana, which are not traditional partners of the country but are experiencing economic growth.
He said Malaysian businesses have ample space and opportunities to enter these countries.
“I believe that about ten years ago, Africa had a population of around 800 million, and now it has risen to nearly 1.4 billion,” he told reporters after the Ramadan Aidilfitri Charity Event in Kepala Batas, where 600 individuals received cash assistance and essential goods.
Reezal Merican highlighted that MATRADE’s target is to achieve exports exceeding RM1.7 trillion (US$357 billion) this year.
He elaborated that in light of geopolitical pressures and the trade war between China and the United States, exploring these new markets is seen as crucial for the sustainability of the country’s economy.
Reezal Merican noted that after Dubai and China, Malaysia is now looking into the potential of expanding into these emerging markets, which are hoped to yield trade returns for the national economy.
“Even though our country is small, it demonstrates our capabilities in the export sector, particularly in electrical and electronic goods, semiconductors, and with new strategies being implemented by the Ministry of Investment, Trade, and Industry (MITI) under Minister, Tengku Zafrul Tengku Abdul Aziz,” he said.
Additionally, Reezal Merican said that MATRADE will be organising the Malaysia International Halal Showcase (MIHAS) overseas for the second time this year, following its successful debut in Dubai last year.
He added that MIHAS 2025 will take place in Shanghai, China, as part of the “China International Import Expo” (CIEE) this November, to increase sales compared to the previous year.
-- BERNAMA
