Thursday, 17 September 2015, Kuala Lumpur : Malaysia is stepping up efforts to ramp up exports by implementing several initiatives under a strategic road map that, among others, involves deep collaboration between the public and private sectors.
This was one of the decisions reached at the 3rd National Export Council (NEC) meeting convened today. The meeting discussed several measures on boosting exports, taking into consideration the global economic situation. It noted that based on the first 7 months of 2015, Malaysia’s exports, similar to the experience of other countries in the region, were under pressure due to the lack of global demand and slower uptake by its traditional trading partners.

The meeting outlined five key strategies to overcome the challenge:
1) Creating higher value exports,
2) Strengthening export capabilities
3) Market deepening in high-potential markets
4) Growing the number of exporters and
5) Promoting "Brand Malaysia”

The meeting also discussed action plans and measures to improve the export eco-system and enhance the contribution of Mid-Tier companies and SMEs to exports.

The Mid-Tier Companies Development Programme launched in January 2014 is a 9-month export acceleration programme with the objective to develop and nurture selected Mid-Tier Companies to become more resilient and competitive internationally. A total of 44 MTCs participated in Wave 1, and another 57 MTCs are currently participating in Wave 2.

Efforts will also be taken to boost contribution of SMEs to 23% of total exports by 2020 by strengthening existing initiatives and activities. Programmes to merge SMEs into Mid-Tier companies will be intensified to support them in their export ventures. MITI’s agencies, notably MATRADE, MIDA & SME Corp, are already collaborating with MNCs based in Malaysia and overseas to undertake sourcing from Malaysia and help link SMEs suppliers to these large corporations.

On the international front, the promotion of Malaysian products and capabilities will be strengthened to create greater impact and enhance Malaysia’s effort in positioning the country in the global marketplace.

With the softening of commodity prices, the meeting noted that it was crucial that the resource-based sectors such as the palm oil industry move towards producing higher value-added products, particularly in the oleo-chemicals, nutraceuticals and pharmaceuticals. The Government has provided incentives to assist companies to undertake more downstream activities.

The service sector especially tourism is expected to further contribute to exports and measures to facilitate this are currently being developed. Presently, this sector contributes more than RM130 billion annually to exports.

The ongoing efforts to improve the export eco-system in a concerted and coordinated manner will remain the primary agenda of the Council.

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