What role does the gove play in supporting trade

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What role does the government play in supporting trade?

The government has formed the Malaysian Industrial Development Authority (MIDA) & the Malaysia External Trade Development Corporation (MATRADE) to promote trade and export of Malaysian goods.

Trade promotion, through participation in local and international trade fairs, will continue to be encouraged with greater emphasis on the quality of the exhibited products. Efforts will also be undertaken to promote Malaysian brand names through more intensive advertising and marketing.

The newly-formed GTCS will conduct market studies and organize fact-finding missions, particularly to new markets. Information on market opportunities will be disseminated through seminars with the private sector. Assistance will also be provided by MATRADE in sourcing for raw materials and semi-processed products required as inputs for the manufacturing sector with the objective of reducing the costs of production.

A focused export -targeting approach will be taken to increase the market share of Malaysian exports, particularly in markets that have the potential for increased demand of such goods. In this regard, MATRADE will work together with the private sector to promote Malaysian products particularly, resource-based products in foreign markets and organize exhibition of such products.

Efforts will be taken by MATRADE to upgrade the marketing capabilities of the private sector through training and consultation on various aspects such as product design, packaging and labeling.

If you want to know about the functions of what MATRADE is doing, please click HERE

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