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SBG
ECONOMY
VISION DRIVEN
Promoting exports and assisting Malaysian companies capture international markets, MATRADE is an indispensable vehicle for Malaysia’s development.
Dato’ Noharuddin Nordin
CEO, MATRADE
“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
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.
for growth and foreign investments in sectors such as rubber and wood-based products, construction and related services, oil and gas and medical care. Due to Malaysia’s forte in these areas, it can project itself as a country with industrial sophistication, technology advancement, standards recognition
country is a leading research centre for rubber in the world and has developed strong expertise in R&D. Malaysia also has a strong knowledge base in the intricacies of the oil and gas sector and has capabilities ranging from exploration, refining, storage and distribution to the manufacture of high-end products. With state-of-the- art medical treatments and competitive costs, Malaysia has over the years exported its hospital management skills and nursing care to West Asia, the ASEAN region and other parts of the world.
FOCUS ON THE MIDDLE EAST
“MATRADE views the Middle East as a fast-growing economic powerhouse and having great potential for bilateral trade relations with Malaysia. Realising these possibilities, the national trade agency has set up offices in Dubai and Jeddah to provide services to its clients.
Over and above the cultural similarities and affinity shared between Malaysia and the GCC, it must be noted that buyers and project owners from the Middle East expect the best returns for their investment dollars. We are glad that Malaysian products and services have proven themselves as the top choices among consumers and clients,” adds Dato’ Noharuddin Nordin.
Malaysia’s exports for October 2010 reached RM54.98 billion.
MATRADE has embarked on a branding exercise promoting Malaysia as a source for quality service providers through a solo country exhibition, the Malaysia Services Exhibition (MSE) in the UAE. MSE 2011, the 4th in the series, to be held in Abu Dhabi from 17th–20th April, will allow businessmen to network with Malaysian service providers and to discuss business propositions and establish further relationships.
Malaysian companies have been involved in iconic projects such as the Burj Al Arab, Meydan Racecourse, Fortune Dubai Tower and Jumeirah Lake Towers in Dubai, Bahrain’s Formula 1 Circuit, New Doha International Airport and the Khalifa Olympic Stadium in Qatar, and the construction and development of the Al-Faisal University Campus in Saudi Arabia. Driven by the vision of making Malaysia the premier exporting nation of the world, MATRADE’s role in its development is indispensable.
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