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Over RM1.7 trillion export goal: Matrade looks to Africa amid US-China trade war | Scoop

Over RM1.7 trillion export goal: Matrade looks to Africa amid US-China trade war

Datuk Seri Reezal Merican says nation is exploring untapped potential in emerging markets like Egypt, Libya, Botswana

6:00 PM MYT

 

KUALA LUMPUR – The Malaysia External Trade Development Corporation (Matrade) is aiming for exports to surpass RM1.7 trillion this year, as it looks to strengthen the country’s trade sector by tapping into new emerging markets, including African countries.

Chairman Datuk Seri Reezal Merican Naina Merican stressed that in light of geopolitical tensions and the ongoing trade war between China and the United States, Malaysia must look beyond its traditional partners. 

He pointed out that the country is keen to explore the untapped potential in emerging markets particularly in Africa, to sustain economic growth, citing nations such as Egypt, Libya, and Botswana, which are experiencing economic expansion. 

“I believe that about 10 years ago, Africa had a population of around 800 million, and now it has risen to nearly 1.4 billion,” he told reporters after the Ramadan Aidilfitri Charity Event in Kepala Batas, where 600 individuals received cash assistance and essential goods. 

Reezal Merican noted that after Dubai and China, Malaysia is now looking into the potential of expanding into these emerging markets, which are hoped to yield trade returns for the national economy.

“Even though our country is small, it demonstrates our capabilities in the export sector, particularly in electrical and electronic goods, semiconductors, and with new strategies being implemented by the Investment, Trade, and Industry Ministry under minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz,” he said. 

He also said Matrade will continue its efforts to promote Malaysian exports through the Malaysia International Halal Showcase (Mihas). Following a successful debut in Dubai last year, Mihas will be held overseas for the second time, with Shanghai, China, hosting the 2025 edition as part of the China International Import Expo in November. – March 23, 2025

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