Annual Report 2017

16 MA T R A D E A N N U A L R E P O R T 2 0 1 7 MATRADE’s task today is to prepare our stakeholders for the next 25 years. Our role is to educate and guide stakeholders on the course they need to navigate in order to address tomorrow’s challenges today Thirdly, planning with other specialist government agencies, such as the Construction Industry Development Board (CIDB) or Malaysian Digital Economy Corporation (MDEC), is tightly coordinated to ensure minimal overlap of activities and that joint resources are optimised for the best outcomes. Lastly, since MATRADE’s establishment as a TPO, a number of indisputable facts have emerged that bolster our chances for continued export success in the future. Firstly, SMEs that utilised MATRADE services or programmes in one form or another generally have better export success than companies who don’t. Similarly, SMEs that have leveraged on MATRADE’s expertise have better market diversification. Thirdly, studies have shown that every dollar spent by TPOs on trade promotion and/or intervention have resulted in an increased contribution to GDP. This is true for MATRADE. So, what of the future? What does MATRADE need to do to address the challenges and opportunities for the next 25 years? The capacity and contribution of SMEs have the potential to grow significantly. Tremendous opportunities lie ahead for Malaysian companies with the advent of Industry Revolution 4.0, the Internet of Things, Big Data, Artificial Intelligence, Virtual Reality, Augmented Reality and Material Sciences to name a few. New physical modes of transportation, such as the next- generation Super Sonic Transport and the Hyperloop, coupled with politically-driven connectivity will shrink and bring market regions closer as never before. The global village is now at an inflection point in which these forces can bring renewed value and vigour and effect a quantum leap as to how international trade is planned, conceived and conducted. Those companies that do not incorporate these