Annual Report 2017

26 MA T R A D E A N N U A L R E P O R T 2 0 1 7 M alaysia’s growth trajectory received a major stimulus in 2017 as external trade figures pushed to record numbers on all fronts. Total trade, exports and imports all recorded significant growth numbers. This phenomenon will obviously be hard to replicate going into 2018 due to the high-base effect. However, as most external variables are not expected to change too drastically, the growth figures for 2018 should remain strong. Other growth catalysts would be better utilisation of MATRADE’s existing facilities and services such as the Market Development Grant and Services Export Fund. These support facilities have traditionally provided the impetus for many SMEs to expand their footprint beyond Malaysian shores as it partly defrays the cost of overseas expansion and promotion. This is critical to ensure more SMEs graduate from being mere suppliers to the domestic market to becoming regional and global exporters. Growth drivers also include the relatively stable global economy and the recovery in oil prices. The growing adoption of Industry 4.0 related technology and innovations such as machine learning, automation and robotics, autonomous vehicles and new tracking technology all promises greater export opportunities for many Malaysian companies in various sectors such as Electrical & Electronics (E&E), Machinery and Equipment (M&E), as well as those in the services sector, especially Information and Communications Technology (ICT). Greater utilisation of existing Free Trade Agreements (FTAs) that Malaysia is party to, including the use of provisions within these FTAs such as Mutual Recognition Agreements (MRA) would also have positive impact on Malaysia’s export prospects. Malaysia will continue to explore bilateral and multilateral trade arrangements that could benefit its external sector. China’s “One Belt, One Road” policy also has the potential to yield sizable trade and investment opportunities for Malaysian companies. MATRADE’s programmes will continue to be tailored to seek new high growth markets, promote higher value-added products and explore niche market segments within existing markets, so that Malaysian exports can make a difference. Clearly, there are many positive possibilities on the horizon. However, the year will not be without its LOOKING AHEAD China’s “One Belt, One Road” policy has the potential to yield sizable trade and investment opportunities for Malaysian companies