Annual Report 2017

11 O U R I N S T I T U T I O N The impact of these and other capacity building programmes means that we have developed a set of confident, go-getter companies that are best-in- class, competitive, nimble and entrepreneurial in identifying new markets. I urge all exporters to look at overseas markets close to home, specifically, the ASEAN Economic Community (AEC), the world’s largest economic zone with a huge market of US$2.6 trillion and a population of 622 million consumers. The AEC holds massive potential and forward- thinking companies will be the ultimate winners, racing ahead of the rest. Our strength lies in the fact that Malaysia has recorded consecutive years of growth, since embarking on the path of modernisation and industrialisation. Having breached the RM1.774 trillion mark in terms of total trade in 2017, we are optimistic that we can move up the ranks to be among the World’s Top 20 trading nations. In 2017, Malaysia’s total trade expanded by 19.4% compared to just 1.5% in 2016. Exports surged 18.9% to RM935.39 billion, while imports stood at RM838.14 billion, up by 19.9%. The share of exports (goods and services) in Malaysia’s Gross Domestic Product (GDP) at constant prices is above 72.8%, indicating external trade’s importance to Malaysia’s economy. As such, MATRADE’s support to ramp up export-based programmes will ensure that Malaysia’s competitiveness is sustained on an international scale. With our 25th anniversary looming on the horizon, we will continue to deliver results and look forward to another year of achieving new highs in global trade. The nation breached the RM1.774 trillion mark in terms of total trade in 2017 DATO’ DR NORAINI AHMAD Chairman MATRADE