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Matrade Urges SMEs To Explore Untapped Potential Markets

[ 08-07-2014 ]
Matrade Urges SMEs To Explore Untapped Potential Markets
SUBANG JAYA, June 26 (Bernama) -- The Malaysia External Trade Development Corporation (Matrade) is urging local small and medium enterprises (SMEs) to explore the untapped potential markets like the African region, central Asia and Latin America, to boost their business growth and network internationally.

Its Chief Executive Officer Datuk Dr Wong Lai Sum said this would also help speed up the target contribution by SMEs to the gross domestic product to 41 per cent by 2020 from 32 per cent in 2010.

"With the supply that we have right now, we have to move our exports to where the demand is. But because of the distance, people sometimes tend to pull back.

"Malaysians are very good in making things but they (also) need to be better in marketing products across the board," she told reporters after the launch of the SME Recognition Award 2014 here Thursday.

The SME contribution target was announced by Prime Minister Datuk Seri Najib Tun Razak during the release of the SME Masterplan 2012-2020 in July two years ago.

The masterplan also targets to increase SMEs export to 25 per cent by 2020, from 19 per cent in 2010.

Meanwhile, Wong said in 2013, events organised by Matrade has generated business worth of some RM18 billion, and out of this more than 60 per cent was contributed by the SMEs.

The figure in 2014 was expected to be better than last year, given the recovery in the economies in Europe and the United States, she said, adding that in the first five months of this year, the agency had recorded double-digit growth.