Promoting exports and assisting Malaysian companies capture international markets, MATRADE is an indispensable vehicle for Malaysia’s development.
“Established in 1993, Malaysia External Trade Development Corporation (MATRADE) is a statutory agency under the Ministry of International Trade and Industry (MITI). As Malaysia’s national trade promotion agency, MATRADE is responsible for assisting Malaysian companies succeed in the international market and is also instrumental in accruing strong returns for the country,” says MATRADE CEO, Dato’ Noharuddin Nordin.
Global Trade Relations
According to MITI, Malaysia’s exports for October 2010 grew 1.3% to reach RM54.98 billion (USD17.50 billion) from October 2009, while its imports were up 12.5% to RM48.13 billion (USD15.32 billion). A total trade of RM103.10 billion (USD32.82 billion) was recorded, an increase of 6.2% compared to October 2009. For the past decade, Malaysia’s exports, imports and total trade have grown at an annual average rate of 6.2%, 6.5% and 6.3% respectively, and with the growing demand and purchasing power in the GCC, this growth momentum is expected to continue for the next 3 to 5 years. Malaysia holds pride of place in the world market for its products and services, with the services sector accounting for a considerable share of its GDP, 57.6% in 2009 compared to 55.2% in 2008. In addition, this sector generates nearly 57% of the total employment in Malaysia. Malaysian companies have also carved a niche in the international tender bidding arena by providing integrated solutions. They are also competent in different modes of project implementation, including conventional, design and build, turnkey and build-operate-transfer, construction of water-treatment plants and consultancy work.