Exporters urged to capitalise on US-China trade war to expand market

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KUALA LUMPUR (Aug 16): West Asian, Central Asian, African and ASEAN countries are seen as the best prospects for Malaysian exporters to expand their markets, as they bear the brunt of global trade slowdown due to the US-China trade war, among others.

Malaysia External Trade Development Corporation (MATRADE) chief executive officer Datuk Latiff Wan Musa said the exporters could take advantage of the situation by exploring the expanding processed food and beverage, electrical and electronics, and rubber-based products sectors.

"I mentioned processed food products as many small and medium enterprises are involved in the industries. So, they need to continue to participate in MATRADE’s programmes to promote their products in the international market," he told reporters after launching MATRADE’s 62nd National Day celebration here today.

He said MATRADE will always help local companies find new markets and market access for their products by providing market intelligence and matching them with high-quality buyers worldwide through its 46 offices around the world.

Wan Latiff said although the country’s exports were relatively slow, exports to the United States has continued to rise, while trade with Taiwan, Thailand, the Philippines, and Mexico has also increased, especially in electronic products as they were heavily affected by the US-China trade war.

"So, we do not want our exporters to just lay back without doing anything, while our competitors are actively holding various promotions to grow and expand their markets," he said.

On the Merdeka Month celebration, he said MATRADE has arrayed six programmes, including flag waving, the cries of “Merdeka” at its August assembly, the Wall of Expression-MyMerdeka Statement, and a Merdeka decoration contest on every floor of MATRADE Tower to instill the patriotic fervour.