THE Malaysia External Trade Development Corporation (Matrade) is setting its sights on new emerging markets in a bid to bolster Malaysia's trade and economic growth this year.
Chairman Datuk Seri Reezal Merican Naina Merican stated that Malaysia must look to Africa, targeting countries such as Egypt, Libya, and Botswana—nations not traditionally associated with Malaysian trade but now experiencing significant economic growth.
Reezal Merican expressed confidence that there is ample opportunity for Malaysian businesses to tap into these markets.
"A decade ago, Africa's population was around 800 million, and today it has surged to nearly 1.4 billion," Bernama cited him saying when speaking to reporters after the Ramadan Aidilfitri Charity Event in Kepala Batas, where 600 individuals received cash aid and essential goods.
He also highlighted MATRADE's ambitious target to achieve exports exceeding RM1.7 trillion this year.
In light of the ongoing geopolitical challenges and the trade conflict between China and the United States, Reezal Merican noted that expanding into new markets is crucial for the long-term stability of Malaysia’s economy.
"After Dubai and China, we are now looking to expand into emerging markets like those in Africa, which we hope will provide substantial trade returns for Malaysia," he added.
Reezal Merican further emphasised that, although Malaysia is a relatively small country, it continues to demonstrate its prowess in the export sector—particularly in electrical and electronic goods, as well as semiconductors.
He credited new strategies being implemented by the Ministry of Investment, Trade, and Industry (MITI) under Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz for driving this success.
Moreover, he revealed that MATRADE will once again host the Malaysia International Halal Showcase (MIHAS) overseas in 2025, following its successful launch in Dubai last year.
MIHAS 2025 will take place in Shanghai, China, as part of the "China International Import Expo" (CIEE) this November, with the aim of increasing sales compared to the previous year. - March 23, 2025
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