KUALA LUMPUR, 18 DECEMBER 2024 (WEDNESDAY) – The Malaysia External Trade Development Corporation (MATRADE) and Dunia Melayu Dunia Islam (DMDI) have officially signed a Memorandum of Understanding (MoU) to bolster trade and export promotion cooperation.
The exchange ceremony took place during the Opening Ceremony of Malaysia Consumer Expo 2024 at the Malaysia International Trade Exhibition Centre (MITEC) in Kuala Lumpur. Tuan Yang Terutama Tun Seri Setia Dr. Hj Mohd Ali Bin Mohd Rustam, Yang di-Pertua Negeri Melaka witnessed the MoU exchange between Mr Abu Bakar Yusof, Deputy CEO of MATRADE and Adj Professor Datin Seri Azreen Binti Abu Noh, Chairperson of DMDI Economic Bureau.
This strategic partnership aims to establish a comprehensive framework for collaboration in several key areas to enhance trade and export promotion efforts. MATRADE and DMDI will jointly facilitate trade missions, participation 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.
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 exporters to leverage the latest platforms and business trends, as well as online media, to either expand exports in existing markets or diversify into new ones. This 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,” said Mr. Abu Bakar Yusof, Deputy CEO of MATRADE.
The MoU also emphasises the importance of exchanging visits and business delegations, fostering deeper relationships between Malaysia and DMDI’s network of
23 affiliated countries. Additionally, it includes capacity-building initiatives such as joint
training courses, seminars, and workshops, aimed at equipping small and medium enterprises (SMEs) with the necessary skills and knowledge to thrive in the international markets
This collaboration is very significant to DMDI as it opens to 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,” said Adj Professor Datin Seri Azreen Binti Abu Noh, Chairperson of DMDI Economic Bureau.
By leveraging MATRADE’s extensive global network of 49 trade offices and digital platforms, this collaboration seeks to promote Malaysian products and services more
effectively. Concurrently, MATRADE will also benefit from DMDI’s extensive network,
which will enhance market access for Malaysian businesses. DMDI will also gain from
MATRADE’s export development programmes which is designed to equip its local entrepreneurs with the capabilities needed to expand their global footprint.
This MoU underscores MATRADE’s 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.
About MATRADE
The Malaysia External Trade Development Corporation (MATRADE) was established on 1 March 1993 as the national trade promotional arm under Malaysia’s Ministry of Investment, Trade and Industry (MITI). MATRADE’s primary role is to assist Malaysian exporters in developing and expanding their export markets. Aligned with Malaysia’s commercial diplomacy efforts, MATRADE is the nation’s trade facilitator and champion of Malaysian-made products and services on the global stage.
