Matrade launches MDG guidelines for online export promotion

KUCHING: Malaysia External Trade Development Corporation (Matrade) has introduced the guidelines of Market Development Grant (MDG) for online export promotions in view of the Covid19 pandemic.

The new guidelines will allow small and medium enterprises (SMEs) to claim certain expenses for participation in virtual trade events to promote exports from July 1, said a statement yesterday.

Under these new guidelines, eligible companies can apply for reimbursable grant for activities under the two categories; namely virtual international trade fairs and virtual trade promotion missions where business to business (B2B) meetings are organised.

Introduced in 2002, the MDG aims at assisting Malaysian SME exporters to promote Malaysian products and services as well as enhance product branding in the international markets.

Matrade chief executive officer Datuk Wan Latiff Wan Musa said the Covid-19 pandemic had impacted the way international business was conducted and leveraging on the digital platforms had become a new normal.

“Travel restrictions imposed

Travel restrictions imposed by most of the countries around the world to contain the spread of Covid-19 have expedited the transformation into digitalisation among the businesses to conduct export promotions. Datuk Wan Latiff Wan Musa

by most of the countries around the world to contain the spread of Covid-19 have expedited the transformation into digitalisation among the businesses to conduct export promotions.

“Virtual trade shows, business pitching, B2B meetings and webinars have become alternatives to physical events,” he said.

He added that Matrade had organised various buyerseller engagements via digital platforms to ensure that Malaysian companies had access to the international buyers even during the travel restriction periods.

Wan Latiff urged Malaysian exporters to be well-versed and well-prepared to join this fastemerging export promotion method.

With the improvement to MDG’s guidelines, he hoped that SMEs would actively participate in the virtual business events and ensure that their presence in the