MATRADE is a Malaysian national trade promotion agency under the Ministry of International Trade and Industry (MITI) whose purpose is to develop and promote Malaysia’s export to the rest of the world. Its main mission is to promote Malaysia’s numerous enterprises while assisting and developing Malaysia’s external trade with particular emphasis on the export of manufactured and semi-manufactured products. To do this, MATRADE has formulated and implemented a national export marketing strategy, in addition to undertaking commercial intelligence and market research. It has also created a comprehensive database of information for the improvement and development of trade.
Malaysia is already rated as one of the world’s leading exporting nations, supplying products to over 200 countries worldwide. However, to raise the profile of Malaysian exporters and give them a competitive edge in foreign markets, particularly the USA (Malaysia’s third-largest trading partner), MATRADE disseminates timely and relevant information and market intelligence. For example, bilateral trade in goods with the United States rose to $71.4 billion in 2021, with U.S. imports from Malaysia totaling $56.2 billion, a 27.3% ($12.1 billion) increase.
The figures from 2022 are expected to be even greater, reflecting further steady growth in the amount of goods exported from Malaysia to the U.S. This trend represents significant possibilities for the thousands of SME operations based in Malaysia who want to establish a presence in the United States. However, in order to take full advantage of these openings, a SME must have the right tools and that is where MATRADE has stepped up and delivered what is sure to be a huge advantage.
One specific point that MATRADE emphasizes to manufacturers seeking international opportunities, especially in the United States, is the need for a dedicated online B2B marketplace platform as ecommerce becomes more digitized. To that effect, MATRADE has partnered with GoBiz USA, a globally-driven, US-based service platform and B2B marketplace designed to help new business owners navigate the challenges of starting a business, structure, and scale their operation by providing state-of-the-art resources. GoBiz USA has strong ties to the Malaysian market and an established presence in the country, with the goal of helping Malaysian manufacturers gain entry into the American marketplace.
GoBiz USA is poised to accomplish this by working closely with MATRADE in order to onboard Malaysia-based manufacturers to the GoBiz platform, smoothing out the flow of importing their products into the United States and ultimately connect them with US-based vendors, distributors, resellers and the like.
GoBiz USA is uniquely positioned to assist Malaysian manufacturers in a wide variety with exclusive services and resources:
- Market Expansion: GoBizUSA can help Malaysian manufacturers expand their market presence in the United States and other markets. With their knowledge of the US market, they can offer advice on market entry strategies, regulatory compliance, and the identification of prospective partners and customers.
- Business Development: GoBizUSA can help Malaysian manufacturers expand into new US markets and territories by identifying potential partners, suppliers, and customers. In addition, GoBiz USA can aid in developing an entry strategy and conducting market research of trending products and current market conditions.
- Export Assistance: GoBizUSA can assist Malaysian manufacturers in navigating the complexities of exporting products and services by providing guidance on regulatory compliance, identifying potential markets, and locating dependable partners.
- Supplier Contracting: GoBizUSA can help Malaysian manufacturers initiate supplier contracts by providing guidance on the tendering process, contract administration, and compliance with US regulations.
With the GoBiz USA Oracle Netsuite executive level platform, Malaysian manufacturers will get access to a unique dashboard that will allow them to conduct their entire business in a streamlined manner and be able to network with business owners in order to gain market share in the United States.
Go to www.gobizusa.com to find out how GoBiz USA can offer more business opportunities.