Applications For Market Development Grant (MDG) Can Now Be Processed At MATRADE’s Sarawak Branch Office

By Malaysia External Trade Development Corporation (MATRADE) Bernama - Friday, July 18ATTENTION EDITOR, GENERAL & BUSINESS DESKS

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Applications For Market Development Grant (MDG) Can Now Be Processed At MATRADE’s Sarawak Branch Office

KUCHING, THURSDAY, July 17 - The Minister Of International Trade And Industry, YB Tan Sri Muhyiddin Yassin, Has Urged Sarawak’s Manufacturing And SME Business Community To Greater Heights By Moving Up The Value Chain In The Global Supply Market And Increasing Their Overall Competitiveness.

He said that this could be achieved if Sarawakian companies made full use of Malaysia External Trade Development Corporation’s (MATRADE) various trade promotion activities, market access programmes and grants such as brand promotion and overseas trade missions. The minister said this when co-officiating the official opening of MATRADE’s office in Kuching, Sarawak today with YAB Pehin Sri Haji Abdul Taib Mahmud, the Chief Minister of Sarawak.

In opening MATRADE’s Sarawak office, Tan Sri Muhyiddin stated, “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.”

“MATRADE’s office in Kuching is part of the initiatives by the Government to intensify its services and deliverables to Sarawak’s business community. It is hoped that the establishment of MATRADE’s Sarawak office, Sarawakian companies will take advantage of the services provided by MATRADE as well as fully utilise MATRADE’s network of 34 offices worldwide,” he added.

In addition, the office, which spans 3,743 square feet, also has a display space called the MATRADE Sarawak Exhibition Centre (MSEC) where exporters can showcase samples of their products and services.

Tan Sri Muhyiddin noted that at present, only two per cent of the total number of companies registered with MATRADE were from Sarawak. Moreover, from January 1, 2002 to June 30, 2008, MATRADE only received 100 applications from Sarawakian companies for MATRADE’s Market Development Grant (MDG) out of a total of 7,790 applications nationwide. Applications for other grants such as the Brand Promotion Grant (BPG) and Services Export Fund (SEF) from Sarawak were negligible.

Furthermore, Tan Sri Muhyiddin added that in view of the current low uptake of the MDG scheme as well as to further enhance its service delivery, MATRADE has decided that from August 1, 2008, all MDG applications from Sarawakian companies would be processed by MATRADE’s Sarawak office.

Tan Sri Muhyiddin stressed that MATRADE’s presence in Sarawak would deliver strategic and key value-added services to Sarawak’s business community and key decision makers such as: · Access to trade leads in traditional as well as new markets; · Timely commercial intelligence and market information in printed and electronic media; · Facilitating participation of Sarawak companies in overseas trade promotion events; · Connecting the exporters to potential buyers; · Facilitating access to trade support and trade financing; and · Access to trade advisory services.

Tan Sri Muhyiddin emphasised, “I would like to use this occasion to encourage all Sarawak companies to register with MATRADE and fully utilise the services provided by us. The facilities provided by MATRADE with regards to researching trade information are useful for Sarawakian companies to formulate and implement export marketing strategies as well as gaining valuable real-time market information for the improvement and development of their respective businesses.”

“Moreover, MATRADE’s network of 34 offices worldwide will be a tremendous asset in assisting both Sarawakian exporters and foreign buyers to converge and establish mutually beneficial business networking relationships,” he pointed out.

The Minister said that the opening of MATRADE’s Sarawak office was timely in view of Sarawak’s increasing trade volume. Sarawak's total global trade for January 2008 to May 2008 amounted to RM30.6 billion, an increase of 19.9% over the corresponding period in 2007. Exports expanded by 23.2% to RM26.66 billion, while imports increased by 1.55% to RM 3.93 billion. Higher 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’s trade surplus amounted to RM22.73 billion, an increase of 27.84% over the corresponding period in 2007.

About MATRADE

The Malaysia External Trade Development Corporation (MATRADE) was established on March 1, 1993 as the external trade promotion arm of Malaysia's Ministry of International Trade and Industry (MITI). Its functions are: · To promote, assist and develop Malaysia's external trade with particular emphasis on the export of manufactured and semi-manufactured products and services; · To formulate and implement export marketing strategies and trade promotion activities to promote Malaysia's export; · To undertake commercial intelligence and market research and create a comprehensive database of information for the improvement and development of Malaysia's trade; · To organise training programmes to improve the international marketing skills of Malaysian exporters; · To enhance and protect Malaysia's international trade investment abroad; and · To promote, facilitate and assist in the services areas related to trade.

Source : Malaysia External Trade Development Corporation (MATRADE)

For more information, please contact: Mr. S. Jai Shankar Senior Manager, Corporate Communications Malaysia External Trade Development Corporation (MATRADE) GL: 03 – 6207 7077 DL: 03 – 6207 7402 Fax: 03 – 6203 7194 Email: jai@matrade.gov.my

DATE OF RELEASE: 17 JULY 2008 RELEASED BY BERNAMA MEDIA RELATIONS & EVENT MANAGEMENT