Sarawak Business Community Urged To Utilise Matrade To Boost Overseas Trade

Sarawak Business Community Urged To Utilise Matrade To Boost Overseas Trade

KUCHING, July 17 (Bernama) -- The Minister of International Trade and Industry Tan Sri Muhyiddin Yassin has urged the Sarawak manufacturing and Small and Medium Entrepreneur (SME) business community to reach greater heights by moving up their value chain in the global supply market and increasing their overall competitiveness.

Muhyiddin said that this could be achieved with Sarawakian companies making full use of Malaysia External Trade Development Corporation (MATRADE)'s various trade promotional activities, market access programmes and grants such as those for brand promotion and overseas trade missions.

"I believe that the presence of MATRADE's office in Kuching will further assist, encourage and incentivise Sarawakian exporters and SMEs to fully utilise the facilities, programmes, grants and services provided by MATRADE," he said.

The minister said this when co-officiating the opening of MATRADE's office here on Thursday with the Chief Minister of Sarawak Tan Sri Abdul Taib Mahmud.

He added MATRADE's office in Kuching was part of the initiatives by the government to intensify its services and deliverables to the Sarawak business community.

Muhyiddin also urged the local companies to take advantage of MATRADE's network of 34 offices worldwide.

He said only two per cent of total number of companies registered with MATRADE were from Sarawak and from January 1, 2002 to June 30 this year MATRADE only received 100 applications from Sarawakian companies for MATRADE's Market Development Grant (MDG) out of a total of 7,790 applications nationwide.

"Application for other grants such as the Brand Promotion Grant (BPG) and Services Export Fund (SEF) from Sarawak were negligible," he said.

The minister said Sarawak's total global trade from January to May this year amounted to RM30.6 billion, an increase of 19.9 per cent over the corresponding period in 2007. Exports expanded by 23.2 per cent to RM26.66 billion while imports increased by 1.55 per cent to RM3.93 billion.

High exports of liquefied natural gas (LNG), crude petroleum, palm oil, plain plywood, saw logs and sawn timber contributed to the increase in exports for the first two months of 2008.

Sarawak trade surplus amounted to RM22.73 billion, an increase of 27.84 per cent over the corresponding period in 2007.

-- BERNAMA