Matrade introduces additional MDG measures to assist SMEs
KUALA LUMPUR: Malaysia External Trade Development Corporation (Matrade) has announced additional initiatives under the Market Development Grant (MDG) to ensure Malaysian exporters remain resilient and can sustain themselves amidst the Covid-19 pandemic.
In a statement yesterday, Matrade chief executive officer Mohd Mustafa Abdul Aziz said the local small and medium enterprises (SMEs) have been very active in promoting their products and services globally through partnerships with international buyers.
“However, the pandemic has affected their business health, including curtailing their exports’ growth,” he said.
He added that the government, through the Ministry of International Trade and Industry MITI and Matrade, supports the SMEs’ efforts through the MDG to enhance the facilitation of export activities.
“With our continuous efforts to sustain our SMEs in the global market, additional initiatives are being introduced to cope with this devastating challenge,” said Mohd Mustafa.
Mohd Mustafa said the additional initiatives include addressing increased export cost, facilitating participation in virtual events such as international trade fair and exhibitions both locally and overseas, as well as addressing losses due to cancellation or postponement of export promotion activities.
It will also help in terms of International Certification registration for export; intellectual property (IP) registration for the international market, as well as branding and advertising for exports, including via digital platforms.
The MDG initiatives will commence from July 15, 2021 until year-end.
Since March 2020 and up to end-May this year, Matrade had assisted 1,350 Malaysian SME exporters with a total of 6,810 activities, covering industries such as furniture, palm oil products, medical products, wood products, prepared foods, machinery and equipment and engineering services.
These SMEs reported exports totalling RM2.6 billion during this period, added Matrade.