Be vigilant and adapt to shifts in markets, exporters told
MALACCA: Malaysian exporters must remain vigilant and be prepared for developments in international markets, enabling them to swiftly adapt and enhance the country’s export strategy.
Malaysia External Trade Development Corporation (Matrade) chairman Datuk Seri Reezal Merican Naina Merican highlighted the shift towards digital marketing, trade, and crossborder business, making the export sector increasingly challenging.
“We cannot limit trade promotion to external markets; it must reach the grassroots level. This is why we hold Export Day, to share insights on preparation, market intelligence, and access. With 49 Matrade offices worldwide, we can network with local chambers of commerce effectively.
“Policy changes require rapid response to adjust export strategies or risk lagging. Our previous export record was RM1.42 trillion,“he said during a press conference at the opening of Export Day 2024 at the Melaka International Trade Centre (MITC) in Ayer Keroh.
The event was inaugurated by Chief Minister Datuk Seri Ab Rauf Yusoh. Malacca state finance officer Datuk Salhah Salleh, Matrade CEO Datuk Mohd Mustafa Abdul Aziz, and Invest Melaka CEO Datuk Ginie Lim were also in attendance.
Reezal Merican also highlighted the need for exporters to explore new markets beyond traditional ones.
“African countries, for example, with a population of 1.4 billion, present opportunities for market entry with certain tariff concessions,” he said.
Export Day 2024, continuing in Malacca until today, aims to empower micro, small and medium enterprises in Malaysia. Collaboration with five state governments provides a platform to develop exporters and introduce high-quality products and services to the global market.
“Malacca was chosen as the starting point due to its political stability, which enhances the efficiency of the delivery system and provides clear direction for local authorities.
“The state’s success in attracting RM6 billion in direct investment in 2023 demonstrates its appeal to investors,” said Reezal Merican.
After Maacca, Export Day heads to Penang, Kuala Lumpur, Sarawak and Perak, spotlighting export readiness, global market opportunities, digital strategies and financing. – Bernama