Matrade boosts Malaysia’s export competitiveness via NTBp
PETALING JAYA: Malaysia has established itself as one of the most trade-friendly countries in the world, exporting a competitive range of products to more than 200 global markets.
In 2022, Malaysia’s trade registered a historic performance with trade, exports, imports and trade surplus reaching an all-time high. Last year, the country’s trade to GDP (gross domestic product) ratio stood at 159.3%.
With the government committed to rejuvenate and reposition Malaysia in the global economy under the 12th Malaysia Plan 2021-2025, Malaysia External Trade Development Corporation (Matrade) complements the efforts in realising these aspirations.
Considering the significant contribution of trade to Malaysia’s economy, a National Trade Blueprint (NTBp) was commissioned by the Ministry of International Trade and Industry (Miti) and developed by Matrade. It is a five-year plan to enhance the nation’s export competitiveness through strengthening the business ecosystem and position Malaysia as a leading exporting country.
“This blueprint reflects its importance and demonstrates the Government’s proactive approach in addressing the challenges that Malaysia has to overcome in order to remain relevant in global trade,” said Matrade CEO Datuk Mohd Mustafa Abdul Aziz.
He added that Matrade is coordinating concerted efforts by ministries, agencies and other stakeholders within the business ecosystem, which is crucial in ensuring the NTBp’s successful implementation.
The NTBp aims to take Malaysia’s trade ecosystem to the next level and future-proof it for the challenges that lie ahead.
The goal of the NTBp is to provide a positive impact for the nation through higher export revenue for exporters, strengthening Malaysia’s global trade competitiveness and ranking, as well as improving the well-being of the rakyat.
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