The Malaysia External Trade Development Corporation (MATRADE) aims to help more high-value products from Kelantan-based entrepreneurs reach global markets.
MATRADE Eastern Region director Zaimah Osman said many entrepreneurs in the state produce unique, high-quality products that are on par with entrepreneurs in the Klang Valley and are well-suited for exports.
She highlighted that MATRADE offers various grants to assist local entrepreneurs in exporting their products, including the Market Development Grand (MDG), which provides up to RM300,000 to cover part of the costs associated with export promotion activities.
Zaimah acknowledged that breaking into global markets, including the US, is challenging but emphasised that MATRADE is committed to assisting entrepreneurs.
“Every year, we see more entrepreneurs and products with export potential. We hop to nurture more Kelantan-based entrepreneurs who can successfully expand into international markets,” she said as she encourages more local entrepreneurs and companies to explore the grants offered by MATRADE to enhance their products and expand their market reach.
“Every year, we would organise the ‘Buddy Programme’, nurturing if it allows them to grow and keep their products relevant,” she continued, pointing out that entering the global markets will boost profits, increase product exposure and ultimately ensuring their long-term competitiveness and sustainability.
At the same time, MATRADE also signed a memorandum of understanding (MOU) with Dunia Melayu Dunia Islam (DMDI) to bolster trade and export promotion cooperation and establish a comprehensive framework for collaboration in multiple key areas.
“MATRADE and DMDI will jointly facilitate trade missions, participations in major international trade events and connecting Malaysian companies with prominent stakeholders, potential partners and buyers as well as business communities in countries affiliated with DMDI,” MATRADE said.
Its deputy chief executive officer Abu Bakar Yusof said that as the global market continues to evolve, it is essential for exporters to stay informed about the latest market dynamics and distinctiveness before entering new markets.
“The go-to-market strategy for entering global markets may vary, depending on the target country, but all markets require exports to leverage the latest platforms and business trends to either expand exports in existing markets or diversify into new ones,” he said.
According to Yusof, the collaboration will also involve the exchange and dissemination of trade-related information to raise awareness of opportunities for Malaysian exporters and to inspire the business community through success stories of economic initiatives in this region.
Similarly, DMDI Economic Bureau chairperson Prof Datin Seri Azreen Abu Noh said that the collaboration is very significant to DMDI as it opens a new horizon and platform for extensive economic networking and access to market entry.
“This will certainly benefit MATRADE and other entrepreneurs, giving them better insights from our DMDI countries,” she said.
Additionally, the MOU underscores its commitment to optimising collaborations with strategic partners – both domestic and international – to widen market access, enhance export performance and drive sustainable economic growth.
“We are confident that the partnership with DMDI will serve as a meaningful platform to connect and empower the Malay-Muslim business community worldwide.
“This collaboration is a continuous effort by MATRADE in bringing Malaysian companies to the global market more inclusively, encompassing various sectors and markets,” it added.