Mohd Mustafa hopes more MSMEs would venture into the international business as there is high demand for local products and services

by NURUL SUHAIDI / TMRpic

THE Malaysia External Trade Development Corp (Matrade) is targeting a potential RM70 million in investment through its newly launched platform, the Matrade Digital Trade Platform (MTDP).

In collaboration with Fusionex Group, the platform empowers local businesses by providing avenues targeted for micro, small and medium enterprises (MSMEs) to leverage their export opportunity.

Matrade CEO Datuk Mohd Mustafa Abdul Aziz (picture) hoped more MSMEs would venture into the international business as there is high demand for local products and services.

“For the first year, we are targeting the total revenue of approximately RM6 million to RM7 million and about 3,500 companies to come on board, whereas for the upcoming five years we aim to get 34,000 companies with a total of RM60 million to RM70 million,” he said at the launch of MTDP today.

To achieve that, he said the implementation will involve many activities, training, regular recruitment and a boarding programme.

Mohd Mustafa added that Malaysia’s total trade volume has surpassed RM1 trillion within the first five months of 2022.

“This signals a strong trajectory, hence we are optimistic to reach the target given the trade performance has seen a significant uptrend despite the disruption brought by the pandemic,” he added.

He said as the demand for products regionally continues to grow, the Matrade marketplace will strengthen its role to provide MSMEs with export supply and an endorsement to the global customers.

Meanwhile, Fusionex Group CEO Datuk Seri Ivan Tan said the training will not only emphasise technical aspects but encompasses the overall concept of business paradigm such as branding, packaging, quality images and making a good business impression.

“The challenges are in marketing, branding and the lack of guidance as to how to appeal their product to the global customers,” he said.

MDTP is currently focused on business-to-business and business-to-consumer trade platforms that accelerate local SMEs’ entry onto the international trade scene, reduce trade complexities and promote Malaysian products and services across the globe.

It will act as business connectivity which is infused with virtual tools such as cutting-edge artificial intelligence and Big Data analytics.

Upon onboarding, the business will have access to Matrade’s vast export network and eventually become less reliant on the traditional way of running the business.

Moving forward, MDTP will be integrated with more features such as a learning section, sourcing and funding that can benefit the overall export ecosystems.